Trinidad and Tobago | 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 Trinidad and Tobago
Records
63
Source
Trinidad and Tobago | Services, value added (% of GDP)
1960
1961
1962
1963
1964
1965
1966 55.31554767
1967 53.46572033
1968 51.45605821
1969 53.86293634
1970 54.78493642
1971 54.93506183
1972 53.74009128
1973 50.70977501
1974 39.59262622
1975 40.0709413
1976 40.51719825
1977 42.30033985
1978 45.27229185
1979 44.22676532
1980 42.63998396
1981 46.20880758
1982 54.80063469
1983 55.54553749
1984 54.48998227
1985 55.88788667
1986 60.07763615
1987 57.32804539
1988 57.19062771
1989 54.15283296
1990 48.29054274
1991 51.04350447
1992 55.11395833
1993 54.51296479
1994 50.04315683
1995 51.07785886
1996 51.26118208
1997 54.39063079
1998 57.48167608
1999 56.81093798
2000 51.47408932
2001 53.39264678
2002 55.3124889
2003 47.73637398
2004 44.68810974
2005 39.74891771
2006 38.03974882
2007 39.49610266
2008 35.17570022
2009 46.5265845
2010 45.51051901
2011 42.98616385
2012 48.47082459
2013 50.40973007
2014 52.18584658
2015 58.08120554
2016 60.0613196
2017 58.84373838
2018 55.7933917
2019 58.99312136
2020 62.36175898
2021 53.45380381
2022 47.84531493
Trinidad and Tobago | 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 Trinidad and Tobago
Records
63
Source