Suriname - Manufacturing, value added (constant 2010 US$)

The latest value for Manufacturing, value added (constant 2010 US$) in Suriname was 746,041,500 as of 2020. Over the past 45 years, the value for this indicator has fluctuated between 794,333,700 in 2018 and 291,569,400 in 1999.

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
1975 606,515,800
1976 652,102,800
1977 641,689,500
1978 682,648,400
1979 644,235,000
1980 571,817,400
1981 587,892,600
1982 491,441,500
1983 445,512,400
1984 429,437,200
1985 459,291,100
1986 470,773,400
1987 365,136,400
1988 408,769,100
1989 415,658,400
1990 422,547,800
1991 435,076,200
1992 369,017,500
1993 294,986,200
1994 302,958,800
1995 298,403,000
1996 312,070,300
1997 313,209,300
1998 320,042,900
1999 291,569,400
2000 465,827,600
2001 523,913,700
2002 504,551,700
2003 533,025,200
2004 589,972,400
2005 650,336,400
2006 634,616,800
2007 646,919,600
2008 706,382,800
2009 625,389,800
2010 700,573,200
2011 712,876,000
2012 583,697,100
2013 634,616,800
2014 583,013,600
2015 589,165,000
2016 615,798,800
2017 750,431,700
2018 794,333,700
2019 732,870,900
2020 746,041,500

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