30 May 2024
News
Latin America and the Caribbean represent 7.3% of global GDP
Latin America and the Caribbean represent 7.3% of global GDP
Industrial policy is aimed at fostering an inclusive and sustainable economic development of countries. For decision-makers, information is relevant and necessary. The disaggregation of data at different levels, i.e., firms or economic activities allows the industrial policy to be well-defined and can be optimally applied.
Disaggregated Data Supports Policymaking and Analysis
Disaggregated information is key for exploring business or industry dynamics, for instance, which is relevant for the study of innovation, productivity, business demographics, and employment by gender, to name a few. These are key issues in industrial policy and for policymakers who need microdata to address them.
In this sense, regional intermediate indicators by economic activity provide the needed disaggregation to analyze issues at the business and sectoral level. This contributes to improving the economic analysis and the set of information from which policymakers define and implement industrial policy.
BADECON and Economic Indicators for Latin America
The Statistics Division at ECLAC, with the support of national statistics offices, has been elaborating the Economic Survey Data Base (BADECON, by its Spanish acronym) to compile annual basic statistics, from which regional intermediate indicators are calculated, these indicators are disseminated through CEPALSTAT, the data website at ECLAC.
BADECON contains information on, value-added, employment, electricity consumption and hours worked, among others for the manufacturing industries of Brazil, Chile, Colombia, Ecuador, Mexico, and the Dominican Republic. Altogether, these countries account for more than 70% of the region’s manufacturing value-added.
Share of Intermediate Consumption and Value added over Gross Production Value, around 2020 (percentages)
Source: ECLAC, CEPALSTAT statistical databases and publication, BADECON database.
Based on the analysis performed on the available information, the following indicators are made available in CEPALSTAT:
- Macroeconomic aggregates by country
- Gross Output by economic activity
- Intermediate Consumption by economic activity
- Value Added by economic activity
- Employment by economic activity
- Employment by sex and economic activity
- Hours worked by economic activity
- Total Compensation of employees by country
- Compensation of employees by economic activity
- Number of establishments by economic activity
- Electricity consumption by economic activity
It is planned the inclusion in BADECON of new economic activities such as services, agriculture, etc. This will further support decision-makers and can help strengthen the analysis for policy formulation and implementation. Users are invited to explore the BADECON database and the statistics here.
