Colombia | Services, value added (% of GDP)
Services correspond to ISIC divisions 50-99 and 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 3 or 4. Limitations and exceptions: In the services industry the many self-employed workers and one-person businesses are sometimes difficult to locate, and they have little incentive to respond to surveys, let alone to report their full earnings. Compounding these problems are the many forms of economic activity that go unrecorded, including the work that women and children do for little or no pay. 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. Financial intermediation services indirectly measured (FISIM) is an indirect measure of the value of financial intermediation services (i.e. output) provided but for which financial institutions do not charge explicitly as compared to explicit bank charges. Although the 1993 SNA recommends that the FISIM are allocated as intermediate and final consumption to the users, many countries still make a global (negative) adjustment to the sum of gross value added.
Publisher
The World Bank
Origin
Republic of Colombia
Records
63
Source
Colombia | Services, value added (% of GDP)
1960
1961
1962
1963
1964
1965 46.46210819
1966 46.78037798
1967 45.93628704
1968 46.19472307
1969 47.14664184
1970 47.54383586
1971 49.26677187
1972 47.76598774
1973 45.84059878
1974 46.10588615
1975 47.61396961
1976 46.12922013
1977 45.04007519
1978 47.25828956
1979 49.02377742
1980 48.82783558
1981 50.30868385
1982 50.71469244
1983 50.80590687
1984 49.82538952
1985 48.15532303
1986 45.57961189
1987 46.26912083
1988 46.56864667
1989 46.75764432
1990 48.30316453
1991 48.63496653
1992 51.21548417
1993 51.66193026
1994 52.82602565
1995 53.93343978
1996 57.21606322
1997 58.39443372
1998 58.91641643
1999 58.22485012
2000 57.19437398
2001 57.16467937
2002 56.45862801
2003 54.90278874
2004 54.15255945
2005 53.17051231
2006 52.51071792
2007 52.95491778
2008 52.0115244
2009 53.48004482
2010 53.39907363
2011 51.44009189
2012 51.98730096
2013 53.35117415
2014 54.63407537
2015 56.21554582
2016 56.89861562
2017 57.60833313
2018 57.65268159
2019 58.13645917
2020 59.94686001
2021 58.02667481
2022 54.62373885
Colombia | Services, value added (% of GDP)
Services correspond to ISIC divisions 50-99 and 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 3 or 4. Limitations and exceptions: In the services industry the many self-employed workers and one-person businesses are sometimes difficult to locate, and they have little incentive to respond to surveys, let alone to report their full earnings. Compounding these problems are the many forms of economic activity that go unrecorded, including the work that women and children do for little or no pay. 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. Financial intermediation services indirectly measured (FISIM) is an indirect measure of the value of financial intermediation services (i.e. output) provided but for which financial institutions do not charge explicitly as compared to explicit bank charges. Although the 1993 SNA recommends that the FISIM are allocated as intermediate and final consumption to the users, many countries still make a global (negative) adjustment to the sum of gross value added.
Publisher
The World Bank
Origin
Republic of Colombia
Records
63
Source