Venezuela: Share of manufacturing

The latest value from 2014 is 12.07 percent, an increase from 11.51 percent in 2013. In comparison, the world average is 11.53 percent, based on data from 179 countries. Historically, the average for Venezuela from 1968 to 2014 is 15.97 percent. The minimum value, 11.51 percent, was reached in 2013 while the maximum of 21.13 percent was recorded in 1997. See the global rankings for that indicator or use the country comparator to compare trends over time.

The importance of manufacturing in the economy of Venezuela 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.