China becomes world’s second-largest producer of manufacturing output
March 6th, 2010 - 3:36 pm ICT by ANINew Delhi, Mar 6 (ANI): The United Nations Industrial Development Organization (UNIDO) report has put China ahead of Japan as the world’s second-largest producer of manufacturing output, trailing behind only the United States.
According to UNIDO report released on Wednesday, China produced 15.6 percent of the world’s total manufacturing value added (MVA) in 2009, compared with 15.4 percent for Japan, while the US clinched its first rank with 19 percent.
These three countries combined produce half of the world’s manufacturing output, the China Daily quoted the report, as saying.
Despite the lead of China in absolute amount of production, the report says Japan remains the world’s most industrialized country in terms of MVA per capita.
Japan’s MVA per capita for 2008 was almost 9,000 dollars compared with about 700 dollars in 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.
Of the top 10 countries in manufacturing production, two are from the developing world, India and Brazil, ranking 9th and 10th respectively. (ANI)
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Tags: brazil, china daily, developing countries, developing world, development organization, financial crisis, half of the world, India, industrialized countries, japan, mva, nations industrial development, New Delhi, per capita, united nations, united nations industrial, united states
