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
46.46210819 1965
46.78037798 1966
45.93628704 1967
46.19472307 1968
47.14664184 1969
47.54383586 1970
49.26677187 1971
47.76598774 1972
45.84059878 1973
46.10588615 1974
47.61396961 1975
46.12922013 1976
45.04007519 1977
47.25828956 1978
49.02377742 1979
48.82783558 1980
50.30868385 1981
50.71469244 1982
50.80590687 1983
49.82538952 1984
48.15532303 1985
45.57961189 1986
46.26912083 1987
46.56864667 1988
46.75764432 1989
48.30316453 1990
48.63496653 1991
51.21548417 1992
51.66193026 1993
52.82602565 1994
53.93343978 1995
57.21606322 1996
58.39443372 1997
58.91641643 1998
58.22485012 1999
57.19437398 2000
57.16467937 2001
56.45862801 2002
54.90278874 2003
54.15255945 2004
53.17051231 2005
52.51071792 2006
52.95491778 2007
52.0115244 2008
53.48004482 2009
53.39907363 2010
51.44009189 2011
51.98730096 2012
53.35117415 2013
54.63407537 2014
56.21554582 2015
56.89861562 2016
57.60833313 2017
57.65268159 2018
58.13645917 2019
59.94686001 2020
58.02667481 2021
54.62373885 2022
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