Pacific island small states - Industry, value added (% of GDP)

Industry, value added (% of GDP) in Pacific island small states was 14.30 as of 2020. Its highest value over the past 45 years was 22.21 in 1976, while its lowest value was 13.47 in 2019.

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
1975 21.87
1976 22.21
1977 20.51
1978 19.43
1979 20.12
1980 19.25
1981 18.26
1982 18.40
1983 17.12
1984 16.29
1985 17.10
1986 18.36
1987 18.71
1988 17.94
1989 19.90
1990 19.81
1991 19.80
1992 20.08
1993 20.13
1994 19.92
1995 18.95
1996 18.90
1997 18.78
1998 18.11
1999 17.28
2000 18.00
2001 18.65
2002 19.10
2003 18.53
2004 19.28
2005 16.80
2006 16.46
2007 16.37
2008 16.46
2009 16.25
2010 15.90
2011 15.98
2012 15.24
2013 14.62
2014 13.75
2015 13.67
2016 14.48
2017 13.92
2018 13.52
2019 13.47
2020 14.30

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