Small states - Industry, value added per worker (constant 2010 US$)

The latest value for Industry, value added per worker (constant 2010 US$) in Small states was 46,974 as of 2019. Over the past 24 years, the value for this indicator has fluctuated between 53,016 in 2012 and 27,238 in 1995.

Definition: Value added per worker is a measure of labor productivity—value added per unit of input. Value added denotes the net output of a sector after adding up all outputs and subtracting intermediate inputs. Data are in constant 2010 U.S. dollars. Industry corresponds to the International Standard Industrial Classification (ISIC) tabulation categories C-F (revision 3) or tabulation categories B-F (revision 4), and includes mining and quarrying (including oil production), manufacturing, construction, and public utilities (electricity, gas, and water).

Source: Derived using World Bank national accounts data and OECD National Accounts data files, and employment data from International Labour Organization, ILOSTAT database.

See also:

Year Value
1995 27,238
1996 27,965
1997 28,673
1998 28,709
1999 28,695
2000 38,343
2001 38,616
2002 40,537
2003 42,451
2004 42,189
2005 43,038
2006 47,935
2007 47,350
2008 47,244
2009 46,011
2010 50,187
2011 52,720
2012 53,016
2013 51,834
2014 50,821
2015 49,030
2016 48,542
2017 48,356
2018 47,992
2019 46,974

Development Relevance: Labor productivity is used to assess a country's economic ability to create and sustain decent employment opportunities with fair and equitable remuneration. Productivity increases obtained through investment, trade, technological progress, or changes in work organization can increase social protection and reduce poverty, which in turn reduce vulnerable employment and working poverty. Productivity increases do not guarantee these improvements, but without them—and the economic growth they bring—improvements are highly unlikely. Please also see GDP per person employed (constant 2011 PPP $) [SL.GDP.PCAP.EM.KD], which is a key measure for monitoring the Sustainable Development Goal 8 of promoting sustained, inclusive and sustainable economic growth, full and productive employment and decent work for all.

Limitations and Exceptions: For comparability of individual sectors labor productivity is estimated according to national accounts conventions. However, there are still significant limitations on the availability of reliable data. Information on consistent series of output is not easily available, especially in low- and middle-income countries, because the definition, coverage, and methodology are not always consistent across countries. For more details, see Agriculture, value added (constant 2010 US$) [NV.AGR.TOTL.KD], Industry, value added (constant 2010 US$) [NV.IND.TOTL.KD], and Services, etc., value added (constant 2010 US$) [NV.SRV.TOTL.KD].

Other Notes: Caution should be used for aggregates (population-weighted averages); world totals can be presented without a large economy such as USA.

Statistical Concept and Methodology: Value added per worker is calculated by dividing value added of a sector by the number employed in the sector. Gross domestic product (GDP) represents the sum of value added by all 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. Value added by industry is normally measured at basic prices, while total GDP is measured at purchaser prices. Data on employment are modeled estimates by the International Labour Organization (ILO) ILOSTAT database. The concept of employment generally refers to people above a certain age who worked, or who held a job, during a reference period. Employment data include both full-time and part-time workers.

Aggregation method: Weighted average

Base Period: 2010

Periodicity: Annual

Classification

Topic: Economic Policy & Debt Indicators

Sub-Topic: National accounts