Colombia | Services, value added (annual % growth)

Annual growth rate for value added in services based on constant local currency. Aggregates are based on constant 2015 prices, expressed in U.S. dollars. Services correspond to ISIC divisions 45-99. They include value added in wholesale and retail trade (including hotels and restaurants), transport, and government, financial, professional, and personal services such as education, health care, and real estate services. Also included are imputed bank service charges, import duties, and any statistical discrepancies noted by national compilers as well as discrepancies arising from rescaling. Value added is the net output of a sector after adding up all outputs and subtracting intermediate inputs. It is calculated without making deductions for depreciation of fabricated assets or depletion and degradation of natural resources. The industrial origin of value added is determined by the International Standard Industrial Classification (ISIC), revision 4. Development relevance: An economy's growth is measured by the change in the volume of its output or in the real incomes of its residents. The 2008 United Nations System of National Accounts (2008 SNA) offers three plausible indicators for calculating growth: the volume of gross domestic product (GDP), real gross domestic income, and real gross national income. The volume of GDP is the sum of value added, measured at constant prices, by households, government, and industries operating in the economy. GDP accounts for all domestic production, regardless of whether the income accrues to domestic or foreign institutions. Limitations and exceptions: In the services industries, including most of government, value added in constant prices is often imputed from labor inputs, such as real wages or number of employees. In the absence of well defined measures of output, measuring the growth of services remains difficult. Statistical concept and methodology: Gross domestic product (GDP) represents the sum of value added by all its producers. Value added is the value of the gross output of producers less the value of intermediate goods and services consumed in production, before accounting for consumption of fixed capital in production. The United Nations System of National Accounts calls for value added to be valued at either basic prices (excluding net taxes on products) or producer prices (including net taxes on products paid by producers but excluding sales or value added taxes). Both valuations exclude transport charges that are invoiced separately by producers. Total GDP is measured at purchaser prices. Value added by industry is normally measured at basic prices.
Publisher
The World Bank
Origin
Republic of Colombia
Records
63
Source
Colombia | Services, value added (annual % growth)
1960
1961
1962
1963
1964
1965
1966 5.8046226
1967 2.86904582
1968 5.36344756
1969 6.80940883
1970 8.527555
1971 9.26108305
1972 6.61630244
1973 7.35586602
1974 6.30853167
1975 2.79574935
1976 5.22271992
1977 5.72323883
1978 7.96307171
1979 5.13327434
1980 5.00170391
1981 4.31807429
1982 2.9634683
1983 0.96145445
1984 1.57250053
1985 1.94824098
1986 3.77605526
1987 5.02043474
1988 5.61658104
1989 2.60676482
1990 3.97252196
1991 3.19394556
1992 5.95711301
1993 6.38533816
1994 8.04125364
1995 7.2085165
1996 7.1565129
1997 5.14466246
1998 0.22839193
1999 -3.82838421
2000 1.43150443
2001 1.96194334
2002 2.33036865
2003 3.48827478
2004 5.29411655
2005 4.68374849
2006 6.31225139
2007 6.68809757
2008 3.22869231
2009 1.56204863
2010 4.92161737
2011 6.35289533
2012 4.33355726
2013 5.35806993
2014 5.46964449
2015 3.60115244
2016 2.37641535
2017 2.57648258
2018 3.66323962
2019 4.43134882
2020 -4.81052681
2021 12.00909446
2022 8.22597068

Colombia | Services, value added (annual % growth)

Annual growth rate for value added in services based on constant local currency. Aggregates are based on constant 2015 prices, expressed in U.S. dollars. Services correspond to ISIC divisions 45-99. They include value added in wholesale and retail trade (including hotels and restaurants), transport, and government, financial, professional, and personal services such as education, health care, and real estate services. Also included are imputed bank service charges, import duties, and any statistical discrepancies noted by national compilers as well as discrepancies arising from rescaling. Value added is the net output of a sector after adding up all outputs and subtracting intermediate inputs. It is calculated without making deductions for depreciation of fabricated assets or depletion and degradation of natural resources. The industrial origin of value added is determined by the International Standard Industrial Classification (ISIC), revision 4. Development relevance: An economy's growth is measured by the change in the volume of its output or in the real incomes of its residents. The 2008 United Nations System of National Accounts (2008 SNA) offers three plausible indicators for calculating growth: the volume of gross domestic product (GDP), real gross domestic income, and real gross national income. The volume of GDP is the sum of value added, measured at constant prices, by households, government, and industries operating in the economy. GDP accounts for all domestic production, regardless of whether the income accrues to domestic or foreign institutions. Limitations and exceptions: In the services industries, including most of government, value added in constant prices is often imputed from labor inputs, such as real wages or number of employees. In the absence of well defined measures of output, measuring the growth of services remains difficult. Statistical concept and methodology: Gross domestic product (GDP) represents the sum of value added by all its producers. Value added is the value of the gross output of producers less the value of intermediate goods and services consumed in production, before accounting for consumption of fixed capital in production. The United Nations System of National Accounts calls for value added to be valued at either basic prices (excluding net taxes on products) or producer prices (including net taxes on products paid by producers but excluding sales or value added taxes). Both valuations exclude transport charges that are invoiced separately by producers. Total GDP is measured at purchaser prices. Value added by industry is normally measured at basic prices.
Publisher
The World Bank
Origin
Republic of Colombia
Records
63
Source