Lower middle income | 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
Lower middle income
Records
63
Source
Lower middle income | Services, value added (annual % growth)
1960
1961
1962
1963
1964
1965
1966 5.16109728
1967 4.4724602
1968 3.99148917
1969 5.47450628
1970 6.08528654
1971 4.96611744
1972 7.62519244
1973 4.61495266
1974 13.37371823
1975 10.45336308
1976 7.76001528
1977 5.53098731
1978 5.32581201
1979 2.33004171
1980 3.7352296
1981 0.71833207
1982 4.04372929
1983 5.50144
1984 2.00015138
1985 4.23003269
1986 1.30501122
1987 2.47634717
1988 3.46082785
1989 5.40526588
1990 5.35008024
1991 4.45221471
1992 4.20069906
1993 2.44541184
1994 2.20012864
1995 4.50861246
1996 5.05472954
1997 5.38182925
1998 5.08261765
1999 5.74834423
2000 3.46603598
2001 7.01637996
2002 6.09480375
2003 5.91856992
2004 8.45167088
2005 7.38895364
2006 7.26095559
2007 8.17701134
2008 5.95606922
2009 5.7852381
2010 6.46282042
2011 5.13327497
2012 5.93349415
2013 5.82825798
2014 6.34822028
2015 5.44664459
2016 5.40861266
2017 4.72478568
2018 5.19224858
2019 4.93863983
2020 -4.26946551
2021 6.19698474
2022 6.75384409

Lower middle income | 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
Lower middle income
Records
63
Source