Iceland | Machinery and transport equipment (% of value added in manufacturing)

Value added in manufacturing is the sum of gross output less the value of intermediate inputs used in production for industries classified in ISIC major division D. Machinery and transport equipment correspond to ISIC divisions 29, 30, 32, 34, and 35. Development relevance: Firms typically use multiple processes to produce a product. For example, an automobile manufacturer engages in forging, welding, and painting as well as advertising, accounting, and other service activities. Collecting data at such a detailed level is not practical, nor is it useful to record production data at the highest level of a large, multiplant, multiproduct firm. The ISIC has therefore adopted as the definition of an establishment "an enterprise or part of an enterprise which independently engages in one, or predominantly one, kind of economic activity at or from one location . . . for which data are available . . ." (United Nations 1990). By design, this definition matches the reporting unit required for the production accounts of the United Nations System of National Accounts. The ISIC system is described in the United Nations' International Standard Industrial Classification of All Economic Activities, Third Revision (1990). The discussion of the ISIC draws on Ryten (1998). Limitations and exceptions: In establishing classifications systems compilers must define both the types of activities to be described and the units whose activities are to be reported. There are many possibilities, and the choices affect how the statistics can be interpreted and how useful they are in analyzing economic behavior. The ISIC emphasizes commonalities in the production process and is explicitly not intended to measure outputs (for which there is a newly developed Central Product Classification). Nevertheless, the ISIC views an activity as defined by "a process resulting in a homogeneous set of products." Statistical concept and methodology: The data on the distribution of manufacturing value added by industry are provided by the United Nations Industrial Development Organization (UNIDO). UNIDO obtains the data from a variety of national and international sources, including the United Nations Statistics Division, the World Bank, the Organisation for Economic Co-operation and Development, and the International Monetary Fund. To improve comparability over time and across countries, UNIDO supplements these data with information from industrial censuses, statistics from national and international organizations, unpublished data that it collects in the field, and estimates by the UNIDO Secretariat. Nevertheless, coverage may be incomplete, particularly for the informal sector. When direct information on inputs and outputs is not available, estimates may be used, which may result in errors in industry totals. Moreover, countries use different reference periods (calendar or fiscal year) and valuation methods (basic or producer prices) to estimate value added.
Publisher
The World Bank
Origin
Republic of Iceland
Records
63
Source
Iceland | Machinery and transport equipment (% of value added in manufacturing)
1960
1961
1962
1963
1964
1965
1966
1967
1968 9.83321301
1969 9.46581871
1970 9.29865026
1971 10.80214604
1972 10.18392936
1973 9.98469229
1974 10.27053199
1975 9.41356058
1976 8.95938065
1977 9.29958478
1978 9.02785551
1979 9.28577064
1980 3.96812621
1981 3.38710103
1982 4.03536572
1983 3.47244971
1984 2.81194701
1985 2.93419524
1986 3.48084638
1987 3.50489441
1988 3.53227095
1989 2.4128183
1990 2.30212459
1991 2.36688516
1992 2.67066063
1993 2.46433913
1994 1.78393804
1995 1.99545381
1996 2.36326094
1997 8.92173029
1998 8.50226582
1999 8.44504341
2000 7.96410544
2001 7.29119778
2002 7.92655916
2003 7.6510595
2004 7.82371691
2005 8.78045206
2006 8.78053318
2007 8.78100984
2008 8.78100984
2009 8.78100984
2010 8.78100985
2011 9.16413856
2012 9.16413856
2013 9.16413856
2014 9.16413856
2015 9.62979047
2016 11.87114319
2017 11.24848607
2018 12.6645768
2019 12.83923339
2020 12.27633069
2021 12.27563558
2022

Iceland | Machinery and transport equipment (% of value added in manufacturing)

Value added in manufacturing is the sum of gross output less the value of intermediate inputs used in production for industries classified in ISIC major division D. Machinery and transport equipment correspond to ISIC divisions 29, 30, 32, 34, and 35. Development relevance: Firms typically use multiple processes to produce a product. For example, an automobile manufacturer engages in forging, welding, and painting as well as advertising, accounting, and other service activities. Collecting data at such a detailed level is not practical, nor is it useful to record production data at the highest level of a large, multiplant, multiproduct firm. The ISIC has therefore adopted as the definition of an establishment "an enterprise or part of an enterprise which independently engages in one, or predominantly one, kind of economic activity at or from one location . . . for which data are available . . ." (United Nations 1990). By design, this definition matches the reporting unit required for the production accounts of the United Nations System of National Accounts. The ISIC system is described in the United Nations' International Standard Industrial Classification of All Economic Activities, Third Revision (1990). The discussion of the ISIC draws on Ryten (1998). Limitations and exceptions: In establishing classifications systems compilers must define both the types of activities to be described and the units whose activities are to be reported. There are many possibilities, and the choices affect how the statistics can be interpreted and how useful they are in analyzing economic behavior. The ISIC emphasizes commonalities in the production process and is explicitly not intended to measure outputs (for which there is a newly developed Central Product Classification). Nevertheless, the ISIC views an activity as defined by "a process resulting in a homogeneous set of products." Statistical concept and methodology: The data on the distribution of manufacturing value added by industry are provided by the United Nations Industrial Development Organization (UNIDO). UNIDO obtains the data from a variety of national and international sources, including the United Nations Statistics Division, the World Bank, the Organisation for Economic Co-operation and Development, and the International Monetary Fund. To improve comparability over time and across countries, UNIDO supplements these data with information from industrial censuses, statistics from national and international organizations, unpublished data that it collects in the field, and estimates by the UNIDO Secretariat. Nevertheless, coverage may be incomplete, particularly for the informal sector. When direct information on inputs and outputs is not available, estimates may be used, which may result in errors in industry totals. Moreover, countries use different reference periods (calendar or fiscal year) and valuation methods (basic or producer prices) to estimate value added.
Publisher
The World Bank
Origin
Republic of Iceland
Records
63
Source