St. Lucia - Manufacturing, value added (constant 2010 US$)

The latest value for Manufacturing, value added (constant 2010 US$) in St. Lucia was 46,800,170 as of 2016. Over the past 39 years, the value for this indicator has fluctuated between 46,800,170 in 2016 and 11,024,970 in 1977.

Definition: Manufacturing refers to industries belonging to ISIC divisions 15-37. Value added is the net output of a sector after adding up all outputs and subtracting intermediate inputs. It is calculated without making deductions for depreciation of fabricated assets or depletion and degradation of natural resources. The origin of value added is determined by the International Standard Industrial Classification (ISIC), revision 3. Data are expressed constant 2010 U.S. dollars.

Source: World Bank national accounts data, and OECD National Accounts data files.

See also:

Year Value
1977 11,024,970
1978 12,636,390
1979 12,636,390
1980 13,831,150
1981 13,197,650
1982 12,326,010
1983 14,613,510
1984 16,709,630
1985 21,807,570
1986 26,004,110
1987 27,228,620
1988 29,431,090
1989 29,516,120
1990 33,840,210
1991 30,902,200
1992 32,165,000
1993 31,242,360
1994 29,477,860
1995 32,590,170
1996 31,591,010
1997 28,274,590
1998 30,345,220
1999 30,349,470
2000 29,707,430
2001 29,737,700
2002 28,464,890
2003 29,165,930
2004 34,143,160
2005 33,468,210
2006 34,165,840
2007 34,790,800
2008 36,605,570
2009 37,266,400
2010 38,346,040
2011 38,971,540
2012 41,472,610
2013 45,147,110
2014 44,776,370
2015 45,071,850
2016 46,800,170

Development Relevance: An economy's growth is measured by the change in the volume of its output or in the real incomes of its residents. The 2008 United Nations System of National Accounts (2008 SNA) offers three plausible indicators for calculating growth: the volume of gross domestic product (GDP), real gross domestic income, and real gross national income. The volume of GDP is the sum of value added, measured at constant prices, by households, government, and industries operating in the economy. GDP accounts for all domestic production, regardless of whether the income accrues to domestic or foreign institutions.

Limitations and Exceptions: Ideally, industrial output should be measured through regular censuses and surveys of firms. But in most developing countries such surveys are infrequent, so earlier survey results must be extrapolated using an appropriate indicator. The choice of sampling unit, which may be the enterprise (where responses may be based on financial records) or the establishment (where production units may be recorded separately), also affects the quality of the data. Moreover, much industrial production is organized in unincorporated or owner-operated ventures that are not captured by surveys aimed at the formal sector. Even in large industries, where regular surveys are more likely, evasion of excise and other taxes and nondisclosure of income lower the estimates of value added. Such problems become more acute as countries move from state control of industry to private enterprise, because new firms and growing numbers of established firms fail to report. In accordance with the System of National Accounts, output should include all such unreported activity as well as the value of illegal activities and other unrecorded, informal, or small-scale operations. Data on these activities need to be collected using techniques other than conventional surveys of firms.

Statistical Concept and Methodology: Gross domestic product (GDP) represents the sum of value added by all its producers. Value added is the value of the gross output of producers less the value of intermediate goods and services consumed in production, before accounting for consumption of fixed capital in production. The United Nations System of National Accounts calls for value added to be valued at either basic prices (excluding net taxes on products) or producer prices (including net taxes on products paid by producers but excluding sales or value added taxes). Both valuations exclude transport charges that are invoiced separately by producers. Total GDP is measured at purchaser prices. Value added by industry is normally measured at basic prices.

Aggregation method: Gap-filled total

Base Period: 2010

Periodicity: Annual

General Comments: Note: Data for OECD countries are based on ISIC, revision 4.

Classification

Topic: Economic Policy & Debt Indicators

Sub-Topic: National accounts