China is now the world’s second largest industrial manufacturer, says a new report by the United Nations Industrial Development Organization (UNIDO).
With this development, China unseats Japan and is trailing behind the United States, a press release issued by the UN Information Center (UNIC) said here on Saturday.
According to UNIDO estimates, the share of China in world total of manufacturing value added (MVA) at constant 2,000 US dollars has reached 15.6 percent in 2009, compared to 15.4 percent of Japan, while the United States maintains its first rank with 19 percent. These three countries combined produce half of the world manufacturing output.
The conclusion is made from the data published in UNIDO’s International Yearbook of Industrial Statistics 2010, which is the only international publication providing economists, planners, policymakers and business people with worldwide statistics on current performance and trends in the manufacturing sector.
Despite the lead of China in absolute amount of production, the report suggests that Japan is still the most industrialized country of the world in terms of MVA per capita. Japan’s MVA per capita for 2008 was almost 9,000 US dollars compared to about 700 US dollars of China.
The report also suggests that the effect of the recent financial crisis on industrial growth was severe for industrialized countries, but relatively mild for developing countries. Out of the top 10 countries in manufacturing production, two more countries from the developing world, namely India and Brazil, ranked ninth and tenth. - pna
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