Sri Lanka | Manufacturing, value added (annual % growth)
Annual growth rate for manufacturing value added based on constant local currency. Aggregates are based on constant 2015 prices, expressed in U.S. dollars. Manufacturing refers to industries belonging to ISIC divisions 10-33. 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. Development relevance: An economy's growth is measured by the change in the volume of its output or in the real incomes of its residents. The 2008 United Nations System of National Accounts (2008 SNA) offers three plausible indicators for calculating growth: the volume of gross domestic product (GDP), real gross domestic income, and real gross national income. The volume of GDP is the sum of value added, measured at constant prices, by households, government, and industries operating in the economy. GDP accounts for all domestic production, regardless of whether the income accrues to domestic or foreign institutions. 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
Democratic Socialist Republic of Sri Lanka
Records
63
Source
Sri Lanka | Manufacturing, value added (annual % growth)
1960
1961
6.11689555 1962
3.28006394 1963
5.47481872 1964
1.23172139 1965
8.10678699 1966
8.5096244 1967
15.46061755 1968
10.2383541 1969
9.03567737 1970
0.30709984 1971
-1.1176052 1972
6.01763789 1973
-3.6180612 1974
1.80503546 1975
7.74261645 1976
-3.85074717 1977
14.8700428 1978
10.17326803 1979
4.92711255 1980
2.45773838 1981
2.64542342 1982
1.75192179 1983
7.04892762 1984
3.52379982 1985
6.08652742 1986
6.30164157 1987
4.20274254 1988
3.42067439 1989
7.51333094 1990
6.79999998 1991
8.80000002 1992
10.49999998 1993
9.09999999 1994
9.17675029 1995
6.52267968 1996
9.05308544 1997
6.32316214 1998
4.43451514 1999
9.2433589 2000
-4.16184219 2001
2.06787447 2002
3.91546641 2003
5.17339053 2004
6.18140223 2005
5.54852574 2006
6.44732756 2007
4.9331233 2008
3.30036913 2009
7.33042252 2010
3.38179581 2011
2.91120583 2012
2.18578365 2013
2.32141856 2014
5.01937201 2015
3.42413373 2016
4.78761721 2017
3.78598187 2018
2.02828163 2019
-2.56405838 2020
7.40012149 2021
-12.62950287 2022
Sri Lanka | Manufacturing, value added (annual % growth)
Annual growth rate for manufacturing value added based on constant local currency. Aggregates are based on constant 2015 prices, expressed in U.S. dollars. Manufacturing refers to industries belonging to ISIC divisions 10-33. 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. Development relevance: An economy's growth is measured by the change in the volume of its output or in the real incomes of its residents. The 2008 United Nations System of National Accounts (2008 SNA) offers three plausible indicators for calculating growth: the volume of gross domestic product (GDP), real gross domestic income, and real gross national income. The volume of GDP is the sum of value added, measured at constant prices, by households, government, and industries operating in the economy. GDP accounts for all domestic production, regardless of whether the income accrues to domestic or foreign institutions. 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
Democratic Socialist Republic of Sri Lanka
Records
63
Source