Industry (including construction), value added (constant 2015 US$)
Countries By Industry (including construction), value added (constant 2015 US$)
Key points
- The Industry (including construction), value added statistic represents the net output of sectors such as mining, manufacturing, construction, electricity, water, and gas after accounting for all outputs and intermediate inputs.
- The data reveals a wide disparity in economic performance across countries, with China, People's Republic of having the highest value of $5,765,206,387,197.15 and Kiribati the lowest at $16,360,638.74.
- The average value of Industry (including construction), value added among the listed countries is approximately $120,173,897,654.04, illustrating the diverse economic landscapes globally.
- This statistic highlights the significant contribution of industries to the GDP of nations and the importance of sectors like manufacturing and construction in driving economic growth.
- Analyzed in constant 2015 US dollars, this statistic offers insights into the industrial output and economic activity of countries, reflecting their development and competitiveness on the global stage.
Official Definition of Industry (including construction), value added (constant 2015 US$)
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. Data are in constant 2015 prices, expressed in U.S. dollars.
Importance
The Industry (including construction), value added statistic is crucial for a country as it provides insights into the economic performance of its industrial and construction sectors. A high value added in this sector indicates strong growth and productivity, contributing significantly to the country's overall GDP.
A low value added in the industry and construction sector may suggest inefficiency, lack of innovation, or underdevelopment in industrial activities. This could hinder economic growth, job creation, and overall competitiveness of the country in the global market.
Therefore, monitoring and aiming to improve the value added in the industry and construction sector is essential for a country's economic development, technological advancement, and sustainability in the long run.
Top 10 Countries by Industry (including construction), value added (constant 2015 US$)
Bottom 10 Countries by Industry (including construction), value added (constant 2015 US$)
Regions
Europe
The Industry (including construction) value added statistic provides a snapshot of the economic performance of each listed country. Countries like Germany, the United Kingdom, and France showcase robust industrial sectors with high value added, indicating strong economic output and competitiveness. In contrast, smaller nations like Montenegro and Andorra have lower values, reflecting their limited industrial capacity. Advantages of high value added include increased GDP and job creation, while the disadvantages may include over-reliance on industrial production. This statistic influences a country's development by driving infrastructure growth, technological advancement, and international trade, impacting each nation's economic stability and global positioning.
Far East: East Asia, SE Asia, Australia
The Industry (including construction), value added (constant 2015 US$) statistic reveals a diverse economic landscape among the selected countries. Japan leads with a substantial value added of $1.29 trillion, followed by China and South Korea. While Japan and China benefit from large manufacturing sectors, Malaysia and Singapore excel in high-tech industries. Indonesia's value added reflects its growing industrial base, whereas Laos and Cambodia lag behind. For nations like Brunei and Papua New Guinea, reliance on extractive industries poses risks. This statistic not only influences GDP but also shapes employment opportunities and technological advancement, highlighting the varying development trajectories and challenges faced by each nation.
ASEAN
Brunei's Industry (including construction) value added stands at $8,351,644,779.81, while Cambodia follows closely at $7,423,636,753.98. The highest value in this statistic belongs to Indonesia with $392,275,831,805.20, followed by Malaysia with $125,989,695,541.72. Singapore and Thailand also show significant values at $85,493,385,651.36 and $147,560,404,749.58 respectively. This data indicates that Indonesia and Malaysia dominate in this sector, leveraging their manufacturing and construction capabilities for economic growth. However, countries like Brunei and Cambodia may need to diversify their industries to reduce reliance on traditional sectors. For Singapore and Thailand, maintaining competitiveness and innovation will be key to sustaining their industry value added in the long term.
Latin America
The Industry (including construction), value added (constant 2015 US$) statistic reveals the economic performance of selected countries in Latin America. Brazil leads with a substantial value of $321.6 billion, followed by Mexico at $338.1 billion and Argentina at $111.1 billion. Peru, Chile, and Colombia also show significant value added in this sector. Brazil and Mexico benefit from diversified industrial bases, enabling economic resilience. However, reliance on this sector could lead to vulnerability during economic downturns. For countries like Bolivia and Nicaragua, comparatively lower values reflect challenges in industrial growth. This statistic is crucial for assessing economic diversification, competitiveness, and resilience in the face of global economic fluctuations.
Middle East
The Industry (including construction), value added statistic in constant 2015 US$ shows significant variation among the listed countries, with Saudi Arabia leading the group at $279.41 billion and Syria at the lower end with $2.66 billion. Saudi Arabia's strong performance reflects its diversified industrial base and robust infrastructure, supporting economic growth. However, its heavy reliance on the oil sector poses a vulnerability to fluctuations in global oil prices. On the other hand, Syria's limited value added signals challenges in industrial development, largely due to prolonged conflicts impacting the economy. Each country's level of value-added output in the industry sector directly impacts its overall economic growth and diversification efforts.
Rivals
Anglosphere v BRICS
Australia, with a value added in the industry (including construction) sector of approximately $334 billion USD, demonstrates a strong industrial base. Brazil follows closely behind at around $322 billion USD, showing a significant contribution to the sector. Meanwhile, the United States leads with a substantial value added of $3.57 trillion USD, reflecting a highly developed and diversified industrial sector. China's immense value added of $5.77 trillion USD highlights its position as a global industrial powerhouse. Each country's industrial performance is integral to its economic growth, with advantages including job creation and technological advancement. However, challenges such as environmental impact and reliance on certain industries pose risks to sustainable development.
Russia v Ukraine
Industry (including construction), value added (constant 2015 US$), reveals a stark contrast between the Russian Federation and Ukraine. Russia's significantly higher value added in this sector at $427.30 billion, compared to Ukraine's $21.05 billion, underscores Russia's industrial dominance in the region. While Russia benefits from a diversified industrial base and vast resource wealth, Ukraine faces challenges due to political instability and conflict. The high value added for Russia indicates a strong industrial development, contributing to economic stability and global influence. In contrast, Ukraine's lower value added reflects economic vulnerability and the need for structural reforms to enhance competitiveness and resilience in the face of ongoing geopolitical tensions.
France v United Kingdom
France's industry and construction sector added a value of approximately $410 billion in constant 2015 US dollars, while the United Kingdom saw a higher value added of around $540 billion in the same period. France's slightly lower figure may indicate a smaller industrial base compared to the UK. The advantage for France lies in potentially lower production costs, while the UK benefits from a larger industrial output. However, a disadvantage for France could be limited economic diversification, whereas the UK may face challenges related to maintaining competitiveness. This statistic's significance lies in driving economic growth, creating employment opportunities, and influencing trade balances for both countries.
Israel v Iran
Iran's Industry (including construction) value added stands at approximately $139.32 billion, significantly surpassing Israel's $67.86 billion. This stark contrast highlights Iran's more diversified industrial sector compared to Israel, where manufacturing plays a more dominant role. Iran's advantage lies in its broader industrial base, offering greater resilience to economic shocks. However, Iran's heavy reliance on the industrial sector also poses risks during global downturns. For Israel, focusing more on manufacturing may lead to higher efficiencies and innovation but also makes it more susceptible to industry-specific challenges. Ultimately, the Industry value added statistic reflects each country's economic structure and resilience, guiding their development strategies and policies.
Saudi Arabia v Iran
Iran's Industry (including construction) value added is $139.32 billion, while Saudi Arabia's is significantly higher at $279.41 billion. This indicates that Saudi Arabia has a stronger industrial sector compared to Iran. Iran may benefit from a potentially more diverse industrial base, while Saudi Arabia's higher value added reflects a more robust economy but also a greater dependency on the industrial sector. For Iran, there may be opportunities for growth and innovation in various industries. However, Saudi Arabia's reliance on industry could indicate vulnerability to global market fluctuations. Overall, this statistic suggests differing levels of industrial development and resilience to external economic shocks for Iran and Saudi Arabia.
India v Pakistan
India's Industry (including construction) value added is significantly higher than Pakistan's, with a value of $675.24 billion compared to Pakistan's $67.27 billion. This reflects India's larger industrial and manufacturing sector. India enjoys the advantage of a more diversified industrial base, offering greater resilience and potential for economic growth. However, this also comes with challenges such as environmental degradation and resource depletion. Pakistan may have a smaller industrial output, but this could indicate room for expansion and specialization in high-value industries. This statistic suggests that India is more advanced in industrial development, which can drive economic prosperity, while Pakistan has growth potential in developing its industrial sector for future economic stability.
Turkey v Greece
Greece has a value added in Industry (including construction) of approximately $29.7 billion, while Turkey's value added is significantly higher at around $272 billion. This indicates a substantial difference in the industrial output levels between the two countries. Greece's lower value may suggest a less diversified industrial sector compared to Turkey, potentially leading to vulnerabilities in economic shocks. However, Greece's smaller scale could also mean more agility and flexibility in adapting to market changes. Turkey's higher value denotes a more robust and extensive industrial sector, which can be advantageous for overall economic stability and growth, but may also carry risks of over-reliance on specific industries. This statistic is crucial for both countries' development as it reflects their industrial capacity, competitiveness, and resilience in the global market.
China v Japan
China, People's Republic of, leads in Industry (including construction) value added with $5,765,206,387,197.15, showcasing its robust industrial sector. On the other hand, Japan follows with $1,285,924,680,052.68, reflecting its well-established but comparatively smaller industry. China benefits from economies of scale, a vast domestic market, and a focus on manufacturing. However, it faces challenges such as overcapacity and pollution. Meanwhile, Japan excels in high-tech manufacturing and quality control but struggles with an aging workforce and shrinking domestic market. This statistic underscores China's rapid industrial growth and Japan's need for innovation and adaptation to stay competitive globally.
FAQs
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Which country has the most Industry (including construction) value added (constant 2015 US$)?
Answer: China, People's Republic of has the highest value added in the Industry (including construction) category, with a value of $5,765,206,387,197.15. -
Which country has the least Industry (including construction) value added (constant 2015 US$)?
Answer: Kiribati has the least value added in the Industry (including construction) category, with a value of $16,360,638.74. -
What is the average Industry (including construction) value added (constant 2015 US$) among the listed
countries?
Answer: The average Industry (including construction) value added among the listed countries is $120,173,897,654.04. -
How is Industry (including construction) value added calculated?
Answer: Industry (including construction) value added is calculated as the net output of a sector after adding up all outputs and subtracting intermediate inputs. It is expressed in constant 2015 US dollars without deductions for depreciation of fabricated assets or depletion of natural resources. -
What sectors are included in the Industry (including construction) value added category?
Answer: The Industry (including construction) value added category includes manufacturing, construction, electricity, water, gas, and value added in mining within the specified ISIC divisions 05-43.