ISIC is an abbreviation for International standard industrial classification of all economic activities recommended by UN Statistical Commission for all Member-states of United Nations to make use of it either by: “(a) Adopting this system of classification as a national standard, or (b) Rearranging their statistical data in accordance with this system for purposes of international comparability” – (ECOSOC Resolution 149 A - VII of 27 August 1948).

UNIDO’s statistical and research publications have used MVA per capita to differentiate between country groups, however, this approach was not strictly followed due to the problem of a comparable valuation of output in different countries. At the level of an economy as a whole, countries’ socio-economic performance can be compared based on GDP at purchasing power parity (PPP), which eliminates the difference between the nominal currency exchange rates and the actual prices of goods and services in different countries.

Manufacturing value added (MVA) of an economy is the total estimate of net-output of all resident manufacturing activity units obtained by adding up outputs and subtracting intermediate consumption. Measurement of MVA requires appropriate demarcation of the type of economic activity and of the territory in which the activity takes place.