Lower middle income | 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
Lower middle income
Records
63
Source
Lower middle income | Services, value added (% of GDP)
1960
1961
1962
1963
1964
49.34791641 1965
47.92157995 1966
47.56414706 1967
47.7318401 1968
46.67482318 1969
45.81430822 1970
47.95182822 1971
46.62790487 1972
42.96811444 1973
41.64314238 1974
43.72203544 1975
43.97621594 1976
45.39550903 1977
47.25068066 1978
46.75652837 1979
46.27495967 1980
39.7862741 1981
40.17496152 1982
39.76542149 1983
39.88531647 1984
40.7443094 1985
41.52140563 1986
39.5670036 1987
39.3833755 1988
39.26884779 1989
38.94810225 1990
39.57352595 1991
40.02460449 1992
41.96336739 1993
41.43985879 1994
42.08418938 1995
41.80129389 1996
43.03320055 1997
44.61462037 1998
45.04126261 1999
45.56284167 2000
46.77811152 2001
46.46999578 2002
46.42718225 2003
46.39918343 2004
46.42935468 2005
46.62825479 2006
46.89712618 2007
47.41916382 2008
48.75717361 2009
47.74148059 2010
47.2425177 2011
48.34992765 2012
48.73127303 2013
49.57008859 2014
50.8714605 2015
50.75795701 2016
49.98711503 2017
49.7688972 2018
50.55752484 2019
49.6574162 2020
48.87835906 2021
48.67719836 2022

Lower middle income | 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
Lower middle income
Records
63
Source