South Korea: Value added by the manufacturing sector as percent of GDP
For that indicator, The World Bank provides data for South Korea from 1960 to 2017. The average value for South Korea during that period was 22.46 percent with a minumum of 11.23 percent in 1960 and a maximum of 28.48 percent in 2011.
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The importance of manufacturing in the economy of South Korea and other countries is measured as the value added of manufacturing as percent of GDP. Manufacturing is part of the industrial sector of the economy.
Definition: 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.