Lesotho - Industry, value added (% of GDP)

Industry, value added (% of GDP) in Lesotho was 29.97 as of 2020. Its highest value over the past 57 years was 40.57 in 2008, while its lowest value was 2.37 in 1963.

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
1963 2.37
1964 3.67
1965 5.21
1966 6.73
1967 11.80
1968 10.35
1969 11.32
1970 10.17
1971 10.17
1972 10.95
1973 11.20
1974 12.52
1975 13.24
1976 19.19
1977 15.13
1978 21.31
1979 25.09
1980 24.19
1981 22.37
1982 15.39
1983 12.32
1984 13.53
1985 12.85
1986 14.01
1987 14.56
1988 17.57
1989 18.70
1990 21.35
1991 27.85
1992 29.63
1993 30.71
1994 31.14
1995 30.89
1996 32.48
1997 29.65
1998 30.31
1999 32.25
2000 35.16
2001 37.99
2002 38.70
2003 36.47
2004 34.67
2005 33.77
2006 35.48
2007 39.13
2008 40.57
2009 33.30
2010 31.46
2011 33.20
2012 30.82
2013 29.02
2014 32.16
2015 33.74
2016 30.59
2017 28.58
2018 31.65
2019 30.92
2020 29.97

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