Venezuela: Share of industry

The latest value from 2014 is 37.24 percent, a decline from 44.73 percent in 2013. In comparison, the world average is 26.24 percent, based on data from 190 countries. Historically, the average for Venezuela from 1968 to 2014 is 47.22 percent. The minimum value, 37.24 percent, was reached in 2014 while the maximum of 58.26 percent was recorded in 1974. See the global rankings for that indicator or use the country comparator to compare trends over time.

The importance of industry in the economy of Venezuela and other countries is measured as the value added of the industrial sector as percent of GDP. Industry includes mining, manufacturing, construction, electricity, water, and gas.

Definition: 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. Note: For VAB countries, gross value added at factor cost is used as the denominator.