Countries by Industry (including construction), value added (current US$)

Ranking 2024

Analysis

This metric measures the contribution of industry to each country's economy in current US dollars. Industry (including construction) corresponds to ISIC (Rev.4) divisions 05-43. It is comprised of mining, manufacturing, construction, electricity, water, and gas industries. Value added is the contribution to the economy by a producer or an industry or an institutional sector, which is estimated by the total value of output produced and deducting the total value of intermediate consumption of goods. The unit is an absolute current US dollar value, meaning exchange rate movements and inflation affect cross-country comparisons. Data cover 204 countries, with 201 of 204 (98.5%) having data from the last seven years and 84.8% reporting in the latest year (2024). All datapoints are classified as official quality. Seventeen extreme outliers were identified using a 3-sigma threshold, reflecting the wide dispersion in this dataset.

China ranks first at $6.84 trillion, nearly 64% above the United States at rank 2 ($4.17 trillion). Japan (rank 3, $1.21 trillion) and Germany (rank 4, $1.20 trillion) are virtually tied. India ranks 5th at $963 billion, followed by Russia (rank 6, $668 billion) and South Korea (rank 7, $636 billion). The United Kingdom (rank 8, $631 billion) and Mexico (rank 9, $590 billion) round out the top ten alongside Saudi Arabia (rank 10, $557 billion). These ten countries alone account for a dominant share of global industrial value added, reflecting large populations, resource endowments, or advanced manufacturing bases.

Ireland ranks 23rd at $205 billion, placing it ahead of Vietnam (rank 24, $179 billion) and Norway (rank 25, $179 billion), notable given Ireland's relatively small population. Guyana appears at rank 89 with $18.75 billion, placing it between Costa Rica (rank 88, $18.79 billion) and Croatia (rank 90, $17.85 billion). Puerto Rico (rank 52, $59.44 billion) is included as a separate entry, ranking above Portugal (rank 53, $58.55 billion). In the lower half of the ranking, countries such as Togo (rank 151, $2.18 billion), Malawi (rank 153, $1.93 billion), and Tuvalu (rank 204, $2.58 million) reflect very limited industrial sectors. Liechtenstein (rank 141, $3.22 billion) outranks several larger-population developing nations.

Because values are in current US dollars, currency fluctuations can significantly shift a country's rank from year to year without any real change in industrial output. Countries with resource-heavy industries such as oil and gas may see large swings tied to commodity prices rather than structural industrial change. The average year-over-year change across the dataset is 11.7%, indicating meaningful volatility. Some territories and special administrative regions (such as Hong Kong, Macao, Puerto Rico, and Cayman Islands) are included as separate entries, which may affect comparisons with their sovereign or associated states. Data for 31 of 204 countries do not reflect the most recent year, and reporting methodologies can vary across national statistical agencies.

Methodology

Metric: Industry (including construction), value added in current US dollars. Indicator code: NV.IND.TOTL.CD. Data source: World Bank World Development Indicators. Reference year: 2024. Definition: Industry (including construction) corresponds to ISIC (Rev.4) divisions 05-43. It is comprised of mining, manufacturing, construction, electricity, water, and gas industries. Value added is the contribution to the economy by a producer or an industry or an institutional sector, which is estimated by the total value of output produced and deducting the total value of intermediate consumption of goods. Coverage: 204 countries. Recency: 201 of 204 (98.5%) have data from the last seven years; 173 of 204 (84.8%) report in the latest year. Data quality: 100% of datapoints are classified as official. Outliers: 17 extreme outliers identified at the 3-sigma threshold. Average year-over-year change: 11.7%. Value range: $2.58 million (Tuvalu) to $6.84 trillion (China), a spread of approximately 264,735,866%.

Sources

• World Bank