Suriname - Industry, value added (% of GDP)

Industry, value added (% of GDP) in Suriname was 35.23 as of 2020. Its highest value over the past 60 years was 47.83 in 1974, while its lowest value was 16.14 in 1993.

Definition: Industry corresponds to ISIC divisions 10-45 and includes manufacturing (ISIC divisions 15-37). It comprises value added in mining, manufacturing (also reported as a separate subgroup), construction, electricity, water, and gas. 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 or 4.

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

See also:

Year Value
1960 41.70
1961 38.30
1962 36.03
1963 34.97
1964 36.09
1965 37.07
1966 43.66
1967 45.24
1968 46.20
1969 45.39
1970 41.65
1971 43.32
1972 42.54
1973 44.20
1974 47.83
1975 32.12
1976 34.22
1977 36.44
1978 33.28
1979 33.82
1980 32.83
1981 32.34
1982 29.45
1983 27.39
1984 28.07
1985 27.03
1986 25.98
1987 23.32
1988 25.97
1989 25.18
1990 22.48
1991 18.08
1992 16.79
1993 16.14
1994 27.30
1995 29.22
1996 26.26
1997 27.17
1998 21.16
1999 21.89
2000 24.89
2001 24.77
2002 28.66
2003 26.80
2004 31.03
2005 33.84
2006 36.98
2007 37.07
2008 40.07
2009 34.29
2010 35.17
2011 35.11
2012 35.26
2013 32.25
2014 30.25
2015 27.26
2016 26.76
2017 38.28
2018 36.76
2019 33.36
2020 35.23

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: Weighted average

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