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Correlations > Industry Statistics > Apparel manufacturing > Value added

DEFINITION: This measure of manufacturing activity is derived by subtracting the cost of materials, supplies, containers, fuel, purchased electricity, and contract work from the value of shipments (products manufactured plus receipts for services rendered). The result of this calculation is adjusted by the addition of value added by merchandising operations (i.e., the difference between the sales value and the cost of merchandise sold without further manufacture, processing, or assembly) plus the net change in finished goods and work-in-process between the beginning- and end-of-year inventories.
VIEW DATA:   Totals   Per $ GDP  
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Showing latest available data.

Correlations between Industry > Apparel manufacturing > Value added ...

Variable Strength
...and  Industry > Apparel manufacturing > Total value of shipments 97% [plot | correlate | graph]
...and  Industry > Apparel manufacturing > Total cost of materials 95% [plot | correlate | graph]
...and  Labor > Apparel manufacturing > Production workers hours 94% [plot | correlate | graph]
...and  Industry > Apparel manufacturing > Production workers wages 93% [plot | correlate | graph]
...and  Industry > Apparel manufacturing > Annual payroll 92% [plot | correlate | graph]
...and  Labor > Apparel manufacturing > Number of employees 89% [plot | correlate | graph]
...and  Economy > GSP > Compensation of Employees > Apparel manufacturing 88% [plot | correlate | graph]
...and  Labor > Apparel manufacturing > Production workers (average per year) 80% [plot | correlate | graph]
...and  Economy > GSP > Nominal GSP > Apparel manufacturing 80% [plot | correlate | graph]
...and  Economy > GSP > Real GSP > Apparel manufacturing 80% [plot | correlate | graph]
...and  Economy > GSP > Nominal GSP > Apparel manufacturing (per capita) 68% [plot | correlate | graph]
...and  Economy > GSP > Real GSP > Apparel manufacturing (per capita) 67% [plot | correlate | graph]
...and  Health > ADAP Insurance Purchasing/Maintenance Funds 65% [plot | correlate | graph]
...and  Economy > GSP > Gross Operating Surplus > Apparel manufacturing 62% [plot | correlate | graph]
...and  Industry > Apparel manufacturing > Annual payroll (per capita) 59% [plot | correlate | graph]
...and  Economy > GSP > Real GSP > Federal Reserve banks, credit intermediation and related services 57% [plot | correlate | graph]
...and  Economy > GSP > Nominal GSP > Federal Reserve banks, credit intermediation and related services 57% [plot | correlate | graph]
...and  Industry > Textile product mills > Value added 56% [plot | correlate | graph]
...and  Labor > Textile product mills > Number of employees 56% [plot | correlate | graph]
...and  Economy > GSP > Gross Operating Surplus > Apparel manufacturing (per capita) 54% [plot | correlate | graph]
...and  Industry > Apparel manufacturing > Total capital expenditures 52% [plot | correlate | graph]
...and  Health > Baseline Dual Eligible Enrollment 52% [plot | correlate | graph]
...and  Economy > GSP > Nominal GSP > Apparel manufacturing (per $ GDP) 52% [plot | correlate | graph]
...and  Economy > GSP > Real GSP > Apparel manufacturing (per $ GDP) 51% [plot | correlate | graph]
...and  Labor > Beverage & tobacco product manufacturing > Production workers (average per year) 51% [plot | correlate | graph]
...and  Industry > Textile product mills > Total value of shipments 50% [plot | correlate | graph]
...and  Labor > Furniture & related product manufacturing > Production workers (average per year) 50% [plot | correlate | graph]
...and  Labor > Apparel manufacturing > Production workers hours (per capita) 49% [plot | correlate | graph]
...and  Industry > Textile product mills > Production workers wages 49% [plot | correlate | graph]
...and  Industry > Textile product mills > Annual payroll 48% [plot | correlate | graph]
...and  Labor > Apparel manufacturing > Number of employees (per capita) 48% [plot | correlate | graph]
...and  Health > Baseline FFS Drug Payments for Duals 48% [plot | correlate | graph]
...and  Industry > Beverage & tobacco product manufacturing > Annual payroll 47% [plot | correlate | graph]
...and  Energy > Renewable Hydroelectric Production 47% [plot | correlate | graph]
...and  Labor > Furniture & related product manufacturing > Number of employees 46% [plot | correlate | graph]
...and  Industry > Apparel manufacturing > Total value of shipments (per $ GDP) 46% [plot | correlate | graph]
...and  Industry > Apparel manufacturing > Total cost of materials (per $ GDP) 45% [plot | correlate | graph]
...and  Economy > GSP > Gross Operating Surplus > Performing arts, museums, and related activities 45% [plot | correlate | graph]
...and  Health > Total SSDI Beneficiaries 45% [plot | correlate | graph]
...and  Health > Total SSI Beneficiaries 45% [plot | correlate | graph]
...and  Economy > GSP > Nominal GSP > Textile and textile product mills 44% [plot | correlate | graph]
...and  Economy > GSP > Real GSP > Textile and textile product mills 44% [plot | correlate | graph]
...and  Industry > Furniture & related product manufacturing > Production workers wages 44% [plot | correlate | graph]
...and  Industry > Apparel manufacturing > Production workers wages (per $ GDP) 44% [plot | correlate | graph]
...and  Health > Blind & Disabled SSI 44% [plot | correlate | graph]
...and  Labor > Beverage & tobacco product manufacturing > Production workers hours 44% [plot | correlate | graph]
...and  Economy > GSP > Compensation of Employees > Motion picture and sound recording industries 44% [plot | correlate | graph]
...and  Economy > GSP > Real GSP > Motion picture and sound recording industries 43% [plot | correlate | graph]
...and  Industry > Apparel manufacturing > Annual payroll (per $ GDP) 43% [plot | correlate | graph]
...and  Economy > GSP > Nominal GSP > Motion picture and sound recording industries 43% [plot | correlate | graph]
Average: 58%

About Correlations:

A correlation is a statistical measure of similarity between at least two given sets of data. StateMaster's correlations compare two variables from our database and reveal statistical relationships between them. The percentages you see represent the strength (or likelihood) that a change in the topic variable is matched by a change in the listed variables below it. But remember: These correlations do not imply causation, that is, one does not necessarily cause the other. Also, not all variables contain all states, rather subsets of states matched together.

VIEW FOR THIS VARIABLE:

NOTES:

  • Outliers have been removed only where they are outside 3 standard deviations of the mean.
  • Only variable pairs where at least 15 states match for each have been considered.
  • Strength is given by the correlation coefficient (R squared). It is the fraction of variation in Y that can be attributed to the variation in X. 100% signifies a perfect fit (R squared of 1). The top 50 such stats are displayed
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