Industry value linked to currency rates
Comparing Domestic currency per Special drawing rights (End-of-period (EoP)) with Industry (including construction), value added (constant LCU), per capita across 169 countries, 2017–2025.
- Rank correlation
- +0.69
- Holding size constant
- +0.72
- Countries compared
- 169
- Period
- 2017–2025
What might link these
The relationship between industry value added per capita and domestic currency per Special drawing rights might be influenced by a country's economic stability and trade policies. A careful reader should consider the potential impact of inflation, a likely confounder, on both indicators. The correlation could reflect underlying economic conditions rather than a direct link between the two indicators.
Why this is not proof of anything
This is a correlation across countries, not an experiment. It cannot show that either indicator causes the other, and both may simply follow a third thing. This correlation might mislead by suggesting a direct relationship between industry value and currency rates, when in fact it may be driven by other economic factors.
The second figure above repeats the measurement with national population and income held constant. It is the more conservative number: a relationship that largely disappears there was mostly telling you that larger, richer countries have more of most things.
How this was measured
Both indicators were ranked across every country reporting each, and the two rankings compared — ranks rather than raw values, because a handful of very large countries can otherwise manufacture a relationship on their own. The calculation is arithmetic over figures already published on this site; the commentary above is drafted from the two indicator names and the resulting coefficients.