Pacific island small states - Manufacturing, value added (constant 2010 US$)

The latest value for Manufacturing, value added (constant 2010 US$) in Pacific island small states was 745,408,600 as of 2020. Over the past 55 years, the value for this indicator has fluctuated between 805,298,800 in 2017 and 150,699,000 in 1966.

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
1965 180,605,600
1966 150,699,000
1967 231,874,400
1968 241,972,700
1969 194,199,600
1970 221,387,600
1971 202,356,000
1972 211,289,200
1973 218,280,500
1974 226,048,400
1975 227,213,600
1976 245,597,400
1977 269,834,300
1978 288,608,400
1979 337,857,400
1980 313,005,600
1981 356,288,500
1982 348,285,500
1983 319,223,300
1984 360,199,300
1985 320,660,500
1986 370,701,400
1987 328,325,900
1988 331,843,000
1989 410,950,500
1990 451,730,200
1991 448,728,600
1992 456,219,900
1993 508,361,700
1994 534,950,900
1995 531,881,300
1996 555,478,400
1997 581,073,900
1998 588,350,100
1999 628,390,800
2000 615,404,100
2001 690,807,600
2002 694,526,100
2003 692,242,700
2004 748,513,600
2005 662,152,100
2006 680,281,300
2007 664,926,900
2008 704,804,300
2009 663,770,200
2010 715,168,100
2011 647,837,200
2012 630,100,600
2013 653,860,200
2014 728,767,100
2015 750,424,600
2016 791,770,900
2017 805,298,800
2018 797,915,100
2019 785,288,900
2020 745,408,600

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