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    Home > Coatings News > Paints and Coatings Market > Industry | United Nations Industrial Development Organization released a report stating that global manufacturing growth has slowed

    Industry | United Nations Industrial Development Organization released a report stating that global manufacturing growth has slowed

    • Last Update: 2021-03-28
    • Source: Internet
    • Author: User
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    The "2020 International Industrial Statistics Yearbook" released by the United Nations Industrial Development Organization on February 20 shows that the global manufacturing growth rate has fallen for the second consecutive year, and the growth rate in 2019 was only 2%.
    China's manufacturing value added (MVA) growth rate has dropped from 6.
    2% in 2018 to 5.
    5% in 2019.
    The US manufacturing value added (MVA) growth rate dropped from 3.
    2% in 2018 to 2% in 2019.
    The growth rate of manufacturing value added in Europe and other industrialized economies has also shown a similar trend.
    The report shows that manufactured goods account for 80% of world merchandise trade.
    Due to trade frictions, mutual economic sanctions, the uncertainty of Brexit, and the deterioration of the overall business environment, the manufacturing industry is directly affected by the slowdown in commodity circulation.
    The slowdown in manufacturing in industrialized economies has in turn adversely affected the growth of manufacturing in developing and emerging economies, with its growth rate dropping from 3.
    2% in 2018 to 2.
    0% in 2019.
    The report shows that only five years after the adoption of the "2030 Agenda" and the establishment of the Sustainable Development Goals, the global manufacturing industry has shown these downward trends.
    The ninth goal of the Sustainable Development Goals is to "significantly increase the proportion of the industrial sector in GDP and total employment", but the actual situation is just the opposite.
    The proportion of manufacturing in industrialization and emerging industrial economies There was a decline from 2010 to 2019.
    During the same period, the share of manufacturing value added in the GDP of other developing countries and least developed countries increased slightly.
    However, the growth rate observed so far in developing countries is insufficient to meet the requirements of achieving the Sustainable Development Goals.
    Data from the least developed countries shows that a few countries such as Bangladesh, Ethiopia and Myanmar have made significant progress in expanding their manufacturing industries.
    However, many other least developed countries, especially the least developed countries in Africa, have experienced a decline in their manufacturing industries and are facing the possibility of "industrialization".
    Analysis of departmental data shows that China's auto production has exceeded that of the United States and Japan.
    China accounts for more than 25% of global automobile production.
    Among other emerging economies, Mexico ranks 5th after Germany, and India ranks 7th after South Korea.
    Compared with industrialized economies, workers in developing countries earn much less from manufacturing employment.
    For example, in Latin American countries, the proportion of wages earned by engaging in value-added services ranges from 11% to 42%.
    In contrast, in Germany and other European countries, this proportion may reach 45%.
    The "Yearbook" of the United Nations Industrial Development Organization provides detailed statistics on the business structure of specific countries.
    These statistics provide an important reference for the formulation of industrial policies and the comparative analysis of structural changes and productivity.
    This article is an English version of an article which is originally in the Chinese language on echemi.com and is provided for information purposes only. This website makes no representation or warranty of any kind, either expressed or implied, as to the accuracy, completeness ownership or reliability of the article or any translations thereof. If you have any concerns or complaints relating to the article, please send an email, providing a detailed description of the concern or complaint, to service@echemi.com. A staff member will contact you within 5 working days. Once verified, infringing content will be removed immediately.
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