The Gambia - Manufacturing, value added (constant 2010 US$)

The latest value for Manufacturing, value added (constant 2010 US$) in The Gambia was 55,328,650 as of 2020. Over the past 53 years, the value for this indicator has fluctuated between 87,503,950 in 2015 and 14,166,590 in 1967.

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
1967 14,166,590
1968 15,446,700
1969 15,873,400
1970 16,897,490
1971 16,897,490
1972 16,897,490
1973 18,433,630
1974 19,543,060
1975 21,932,600
1976 22,956,690
1977 23,554,080
1978 24,748,850
1979 24,748,850
1980 25,431,580
1981 26,114,300
1982 28,503,850
1983 31,746,800
1984 38,232,700
1985 42,073,050
1986 40,622,250
1987 41,646,340
1988 47,235,930
1989 50,306,260
1990 51,250,980
1991 52,353,150
1992 52,195,700
1993 52,668,060
1994 53,455,320
1995 54,782,640
1996 54,977,010
1997 55,801,660
1998 56,638,690
1999 57,488,270
2000 58,638,030
2001 59,612,550
2002 62,399,480
2003 63,436,200
2004 67,036,890
2005 78,793,320
2006 82,038,030
2007 85,230,320
2008 78,173,500
2009 74,839,370
2010 75,151,570
2011 78,096,180
2012 80,021,820
2013 82,565,300
2014 85,254,960
2015 87,503,950
2016 81,338,410
2017 74,939,580
2018 74,036,820
2019 70,204,120
2020 55,328,650

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