Sierra Leone - Industry, value added (% of GDP)

Industry, value added (% of GDP) in Sierra Leone was 5.24 as of 2020. Its highest value over the past 56 years was 38.81 in 1992, while its lowest value was 4.56 in 2015.

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
1964 26.53
1965 26.84
1966 24.94
1967 26.15
1968 27.76
1969 26.25
1970 25.40
1971 26.22
1972 26.94
1973 24.37
1974 21.55
1975 19.53
1976 19.44
1977 19.44
1978 19.42
1979 19.19
1980 20.16
1981 17.88
1982 15.96
1983 14.18
1984 13.12
1985 12.96
1986 14.67
1987 17.93
1988 11.30
1989 10.17
1990 17.97
1991 33.79
1992 38.81
1993 31.11
1994 38.36
1995 36.07
1996 36.30
1997 27.09
1998 23.75
1999 24.31
2000 26.76
2001 7.91
2002 8.81
2003 10.34
2004 11.78
2005 11.26
2006 10.37
2007 9.67
2008 7.83
2009 6.55
2010 7.78
2011 7.87
2012 14.53
2013 21.23
2014 15.61
2015 4.56
2016 5.61
2017 5.19
2018 5.27
2019 5.55
2020 5.24

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