Quantcast

What is the Role of Manufacturing in Boosting Economic Growth of Countries?

Next Story

Want to know where your favorite video game originated? Check this out!

Countries Where Manufacturing Contributes Maximum To the GDP

If you have a theme, we have a map. Contact us for your custom mapping requirements
+1 408 637 0064

A robust manufacturing sector is vital for the economic growth of a country. The manufacturing sector is also a significant source of employment providing livelihood to millions of people. Given the importance of this sector many countries around the world are placing much emphasis on the growth of the manufacturing industry. The map provides information about how much does the manufacturing sector contribute to the GDP of each country around the world.

The contribution of the manufacturing sector to the GDP has not remained static, but has fluctuated during the years. According to a World Bank data, the contribution of the manufacturing sector to the GDP was highest in Swaziland. In 2014, the contribution of the manufacturing sector to the GDP of this nation, which is located in the southern part of Africa, was 36 percent. Though, it forms a substantial part of the GDP but as compared to 1995, the contribution of the sector has fallen. In 1995, the contribution of the manufacturing sector to the GDP of Swaziland stood at 39 percent.

In South Korea, the contribution of the manufacturing sector to the GDP was 30 percent in 2014, an increase of 5 percent from 1995. At the 3rd, 4th, and 5th spots were Thailand, Czech Republic and Belarus, where the contribution of the manufacturing sector to the GDP was 28 percent, 27 percent, and 25 percent respectively.

However, in the United States, manufacturing accounted for just 12 percent of the GDP in 2014. In the United Kingdom, manufacturing accounted for just 10 percent of the GDP, a dip of around 7 percent since 1995. Nearly two decades ago, the contribution of the manufacturing sector to the GDP was 17 percent in the UK. Australia has seen a sharp dip. While in 1995, the contribution of the manufacturing sector to the GDP was 14 percent, by 2014 it slid down to just 7 percent. In India, which is largely an agrarian economy, the dip is not too noticeable. While in 1995, the manufacturing sector contributed 17 percent to India’s GDP, in 2014 its share was 16 percent.

In many European countries such as Germany, Hungary, Romania, and Slovenia, there has not been a drastic change. In Romania, the contribution of the manufacturing sector to GDP was 25 percent in 1995, but in 2014 it was 24 percent; in Hungary it increased from 21 percent in 1995 to 23 percent in 2014; in Slovenia it dipped from 25 percent in 1995 to 23 percent in 2914, while in Germany it remained static at 23 percent.

(Data sourced from World Bank)

Read More

Top Ten Car Manufacturing Countries

Top Ten Manufacturing Hubs In USA

Recent Posts

Leave a Reply

Your email address will not be published. Required fields are marked *