Latin America & the Caribbean (IDA & IBRD countries) | 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
Latin America & the Caribbean (IDA & IBRD countries)
Records
63
Source
Latin America & the Caribbean (IDA & IBRD countries) | Services, value added (annual % growth)
year value
1960
1961
1962
1963
1964
1965
1966
1967
1968
1969
1970
1971 7.50994633
1972 7.970277
1973 9.37607213
1974 7.61679803
1975 4.52519664
1976 6.37591683
1977 5.04712116
1978 5.49784626
1979 8.33830591
1980 8.58763148
1981 1.67889635
1982 0.87949898
1983 -0.19399792
1984 3.62823501
1985 2.91836416
1986 4.09075162
1987 2.74837661
1988 1.77289777
1989 2.55043248
1990 1.12551897
1991 3.82329325
1992 3.54075873
1993 4.34255028
1994 3.5915509
1995 0.35154309
1996 3.15290686
1997 5.73237475
1998 3.30627052
1999 1.42374539
2000 3.73276201
2001 1.03612215
2002 0.88332711
2003 1.86423033
2004 4.84078931
2005 4.19066882
2006 5.30639138
2007 5.67239634
2008 4.27692093
2009 -0.31112602
2010 5.99089695
2011 4.65146411
2012 3.43424142
2013 2.81557458
2014 1.78598155
2015 0.79469739
2016 0.49034911
2017 1.92307295
2018 2.32810825
2019 1.14158542
2020 -6.55314068
2021 6.91145921
2022 4.59081513

Latin America & the Caribbean (IDA & IBRD countries) | 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
Latin America & the Caribbean (IDA & IBRD countries)
Records
63
Source