Caribbean small states | Industry (including construction), value added (% of GDP)

Industry (including construction) corresponds to ISIC divisions 05-43 and includes manufacturing (ISIC divisions 10-33). 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 4. Note: For VAB countries, gross value added at factor cost is used as the denominator. 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.
Publisher
The World Bank
Origin
Caribbean small states
Records
63
Source
Caribbean small states | Industry (including construction), value added (% of GDP)
1960
1961
1962
1963
1964
1965
1966 28.39929892
1967 29.75966072
1968 31.45106492
1969 29.36424221
1970 27.27375293
1971 27.35331275
1972 26.87957811
1973 30.76510596
1974 42.59300122
1975 41.54743801
1976 41.88767345
1977 44.23552851
1978 47.15366894
1979 52.79082069
1980 57.6397126
1981 54.06632877
1982 47.52089869
1983 44.42053784
1984 48.65635384
1985 45.19097388
1986 32.99228824
1987 32.17634841
1988 30.55101901
1989 29.11828391
1990 30.71447011
1991 30.99735923
1992 30.60581897
1993 25.22912553
1994 26.81304552
1995 26.33534366
1996 25.86517635
1997 23.5707238
1998 21.9484837
1999 22.22488039
2000 24.69194668
2001 23.67822558
2002 22.99580573
2003 26.54227471
2004 28.39356375
2005 31.14724644
2006 32.50658177
2007 32.53964906
2008 36.4500457
2009 29.05570388
2010 30.22246357
2011 32.34966977
2012 28.76968166
2013 28.27790097
2014 27.68927264
2015 23.85454639
2016 23.27945998
2017 24.13426852
2018 24.93912316
2019 23.6954748
2020 23.54870545
2021 28.07878835
2022 34.9267264

Caribbean small states | Industry (including construction), value added (% of GDP)

Industry (including construction) corresponds to ISIC divisions 05-43 and includes manufacturing (ISIC divisions 10-33). 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 4. Note: For VAB countries, gross value added at factor cost is used as the denominator. 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.
Publisher
The World Bank
Origin
Caribbean small states
Records
63
Source