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Gross value added of industry 2016

Gross value added of industry 2016

In 2016, from the perspective of gross value added (GVA), industry accounted for approximately 20 % of total GVA for the EU, while services accounted for almost 75 %. These shares have been on more or less opposing paths since the beginning of the millennium: in 2000, industry corresponded to 22 % of the total GVA for the EU, dropping to 20 % by 2008 and to 19 % by 2016. In contrast, services have been slowly gaining in importance in terms of value creation, from 70 % in 2000, to 72 % in 2008 and 74% in 2016.
Comparing globally with other industrially developed countries, it can be observed that the USA and Japan followed similar paths: in the USA, industry accounted for 19 % in 2000, diminishing to 16 % in 2015, while in Japan, industry declined from 26 % in 2000 to 23 % in 2015. A last point concerning the comparison between industry and services is that it seems that services weathered the financial and economic crises with less turbulence than industry: in the EU, the GVA created by services dropped by 3 % in 2009, as opposed to 12 % for industry. Similarly, the year after, the GVA generated by services increased by 3 %, while industry-created GVA increased by 8 %.

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