Korea, Rep. | 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 Korea
Records
63
Source
Korea, Rep. | Machinery and transport equipment (% of value added in manufacturing)
1960
1961
1962
1963 5.53745928
1964 4.71908345
1965 6.09865471
1966 8.14102564
1967 6.66238958
1968 6.63112296
1969 7.96793965
1970 6.82606315
1971 5.4505814
1972 5.35972423
1973 6.67150109
1974 6.87803631
1975 6.28141612
1976 7.8942848
1977 11.17582948
1978 10.69976931
1979 10.31927634
1980 9.3446909
1981 10.34313474
1982 11.56447527
1983 12.48087223
1984 13.00803115
1985 13.80708382
1986 13.82093547
1987 14.3324788
1988 14.4076767
1989 15.1910508
1990 30.15188979
1991 29.88896993
1992 29.01730853
1993 30.0645946
1994 32.75263475
1995 36.08677383
1996 36.49607384
1997 37.03171939
1998 35.160949
1999 38.94205647
2000 41.29710564
2001 41.09716851
2002 42.27381906
2003 43.02143312
2004 44.35739273
2005 43.96997375
2006 46.28571083
2007 49.52987505
2008 47.94784159
2009 50.18257425
2010 49.79954665
2011 49.26276989
2012 48.33147595
2013 48.81676515
2014 48.62532854
2015 48.73387316
2016 47.43563
2017 48.33114387
2018 48.19273178
2019 47.30495155
2020 47.30495155
2021 47.30495155
2022

Korea, Rep. | 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 Korea
Records
63
Source