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Correlations > Industry Statistics > Total Manufacturing > Value added (per $ GDP)

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. Per $ GDP figures expressed per 100 $ gross domestic product.
VIEW DATA:   Totals   Per $ GDP  
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Showing latest available data.

Correlations between Industry > Total Manufacturing > Value added (per $ GDP) ...

Variable Strength
...and  Industry > Total Manufacturing > Total value of shipments (per $ GDP) 89% [plot | correlate | graph]
...and  Industry > Total Manufacturing > Production workers wages (per $ GDP) 80% [plot | correlate | graph]
...and  Industry > Total Manufacturing > Annual payroll (per $ GDP) 79% [plot | correlate | graph]
...and  Labor > Percent of Civilian Employed People in the Manufacturing Industry 77% [plot | correlate | graph]
...and  Industry > Total Manufacturing > Total capital expenditures (per $ GDP) 73% [plot | correlate | graph]
...and  Industry > Total Manufacturing > Total cost of materials (per $ GDP) 71% [plot | correlate | graph]
...and  Labor > Total Manufacturing > Number of employees (per capita) 69% [plot | correlate | graph]
...and  Labor > Total Manufacturing > Production workers hours (per capita) 66% [plot | correlate | graph]
...and  Industry > Total Manufacturing > Annual payroll (per capita) 64% [plot | correlate | graph]
...and  Industry > Plastics & rubber products manufacturing > Total value of shipments (per $ GDP) 56% [plot | correlate | graph]
...and  Economy > GSP > Nominal GSP > Fabricated metal product manufacturing (per $ GDP) 54% [plot | correlate | graph]
...and  Industry > Fabricated metal product manufacturing > Total cost of materials (per $ GDP) 54% [plot | correlate | graph]
...and  Labor > Total Manufacturing > Production workers (average per year) (per capita) 54% [plot | correlate | graph]
...and  Economy > GSP > Real GSP > Fabricated metal product manufacturing (per $ GDP) 54% [plot | correlate | graph]
...and  Labor > Primary metal manufacturing > Production workers (average per year) (per capita) 54% [plot | correlate | graph]
...and  Industry > Plastics & rubber products manufacturing > Annual payroll (per $ GDP) 53% [plot | correlate | graph]
...and  Industry > Fabricated metal product manufacturing > Total value of shipments (per $ GDP) 53% [plot | correlate | graph]
...and  Industry > Fabricated metal product manufacturing > Value added (per $ GDP) 53% [plot | correlate | graph]
...and  Industry > Fabricated metal product manufacturing > Total capital expenditures (per $ GDP) 52% [plot | correlate | graph]
...and  Industry > Plastics & rubber products manufacturing > Total cost of materials (per $ GDP) 51% [plot | correlate | graph]
...and  Economy > GSP > Real GSP > Plastics and rubber products manufacturing (per $ GDP) 51% [plot | correlate | graph]
...and  Economy > GSP > Gross Operating Surplus > Fabricated metal product manufacturing (per $ GDP) 51% [plot | correlate | graph]
...and  Economy > GSP > Nominal GSP > Plastics and rubber products manufacturing (per $ GDP) 51% [plot | correlate | graph]
...and  Industry > Plastics & rubber products manufacturing > Value added (per $ GDP) 50% [plot | correlate | graph]
...and  Labor > Primary metal manufacturing > Production workers hours (per capita) 50% [plot | correlate | graph]
...and  Economy > GSP > Nominal GSP > Furniture and related product manufacturing (per $ GDP) 49% [plot | correlate | graph]
...and  Economy > GSP > Real GSP > Furniture and related product manufacturing (per $ GDP) 49% [plot | correlate | graph]
...and  Economy > GSP > Real GSP > Plastics and rubber products manufacturing (per capita) 49% [plot | correlate | graph]
...and  Economy > GSP > Nominal GSP > Plastics and rubber products manufacturing (per capita) 48% [plot | correlate | graph]
...and  Economy > GSP > Gross Operating Surplus > Plastics and rubber products manufacturing (per $ GDP) 47% [plot | correlate | graph]
...and  Industry > Plastics & rubber products manufacturing > Production workers wages (per $ GDP) 47% [plot | correlate | graph]
...and  Industry > Plastics & rubber products manufacturing > Annual payroll (per capita) 46% [plot | correlate | graph]
...and  Economy > GSP > Nominal GSP > Furniture and related product manufacturing (per capita) 44% [plot | correlate | graph]
...and  Industry > Primary metal manufacturing > Value added (per $ GDP) 43% [plot | correlate | graph]
...and  Economy > GSP > Real GSP > Furniture and related product manufacturing (per capita) 43% [plot | correlate | graph]
...and  Industry > Electrical equipment, appliance, & component manufacturing > Production workers wages (per $ GDP) 43% [plot | correlate | graph]
...and  Economy > GSP > Nominal GSP > Electrical equipment and appliance manufacturing (per $ GDP) 42% [plot | correlate | graph]
...and  Economy > GSP > Real GSP > Electrical equipment and appliance manufacturing (per $ GDP) 42% [plot | correlate | graph]
...and  Economy > GSP > Gross Operating Surplus > Plastics and rubber products manufacturing (per capita) 42% [plot | correlate | graph]
...and  Economy > GSP > Nominal GSP > Warehousing and storage (per $ GDP) 42% [plot | correlate | graph]
...and  Economy > GSP > Nominal GSP > Nonmetallic mineral product manufacturing (per $ GDP) 42% [plot | correlate | graph]
...and  Economy > GSP > Real GSP > Warehousing and storage (per $ GDP) 42% [plot | correlate | graph]
...and  Industry > Primary metal manufacturing > Total value of shipments (per $ GDP) 42% [plot | correlate | graph]
...and  Economy > GSP > Real GSP > Nonmetallic mineral product manufacturing (per $ GDP) 42% [plot | correlate | graph]
...and  Economy > GSP > Gross Operating Surplus > Fabricated metal product manufacturing (per capita) 41% [plot | correlate | graph]
...and  Industry > Machinery manufacturing > Production workers wages (per $ GDP) 41% [plot | correlate | graph]
...and  Economy > GSP > Nominal GSP > Machinery manufacturing (per $ GDP) 41% [plot | correlate | graph]
...and  Economy > GSP > Real GSP > Machinery manufacturing (per $ GDP) 41% [plot | correlate | graph]
...and  Industry > Primary metal manufacturing > Total cost of materials (per $ GDP) 41% [plot | correlate | graph]
...and  Economy > GSP > Gross Operating Surplus > Warehousing and storage (per $ GDP) 41% [plot | correlate | graph]
Average: 52%

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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