Korea, Rep. | Manufacturing, value added (% of GDP)

Manufacturing refers to industries belonging to ISIC divisions 15-37. 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. 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
Republic of Korea
Records
63
Source
Korea, Rep. | Manufacturing, value added (% of GDP)
1960 11.40456182
1961 11.96552867
1962 11.69718502
1963 12.84474446
1964 14.24901987
1965 17.10368054
1966 16.69636995
1967 16.80876979
1968 17.1539961
1969 17.06964342
1970 17.35679039
1971 16.66666667
1972 18.73374417
1973 21.4878874
1974 20.85895003
1975 20.13354073
1976 21.44920126
1977 21.07200628
1978 21.13657596
1979 21.64692013
1980 21.98584774
1981 21.834797
1982 21.83582199
1983 22.97102971
1984 24.57243995
1985 24.22838158
1986 25.44506136
1987 26.72579126
1988 27.60381028
1989 26.59500681
1990 25.01897224
1991 25.18901473
1992 24.41078933
1993 24.64149999
1994 25.30211274
1995 25.80146219
1996 24.70505809
1997 24.66161551
1998 25.46710788
1999 25.67377289
2000 26.44837351
2001 24.87906659
2002 24.48564896
2003 24.12400805
2004 26.11841277
2005 25.73718379
2006 25.30537196
2007 25.48295331
2008 25.62215148
2009 25.77490296
2010 27.43876659
2011 28.23679861
2012 27.8318955
2013 27.78585374
2014 27.04245216
2015 26.60603573
2016 26.35776522
2017 26.94587269
2018 26.63850865
2019 25.22222287
2020 24.7802807
2021 25.48649083
2022 25.63196364

Korea, Rep. | Manufacturing, value added (% of GDP)

Manufacturing refers to industries belonging to ISIC divisions 15-37. 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. 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
Republic of Korea
Records
63
Source