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Units: toe for final energy and kWh for electricity.
Output: Both value added and gross output may be used to measure economic output
from the industrial sector. In both cases, the real national currency is used, deflated by
the deflator for the sector or branch to a base year. This step is crucial, so that the
weight of each sector or branch reflects the correct weight in the base year. The value
of output can then be converted to a common international currency, usually US
dollars, using purchasing power parities (PPP). One alternative is to calculate the total
value of production or shipments, or gross output. This represents the total value of all
outputs from a given industry. Value added is equal to the contribution to GDP arising
from the sector, which represents only the increase in economic output produced by
the sector or branch in question.
The gross output measure tends to be more stable over time but has the disadvantage
that it cannot be aggregated to total output because of double counting; the inputs to
one branch may be the outputs of another branch. On the one hand, value added could
be aggregated but may have greater fluctuations from year to year if input costs or
output prices change. On the other hand, using value added allows the estimation of
impacts on energy use from structural changes.
Unit: Constant currency. The market value of output in the real national currency is
deflated to a base year using GDP deflators. The national currency can be converted
to US dollars, using the PPP for the base year.
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