Ecuador - Services, value added (% of GDP)

Services, value added (% of GDP) in Ecuador was 52.63 as of 2020. Its highest value over the past 60 years was 54.18 in 2003, while its lowest value was 39.89 in 1963.

Definition: 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.

Source: World Bank national accounts data, and OECD National Accounts data files.

See also:

Year Value
1960 40.97
1961 41.13
1962 40.08
1963 39.89
1964 40.12
1965 41.08
1966 42.44
1967 42.12
1968 40.70
1969 43.74
1970 41.65
1971 41.46
1972 42.03
1973 44.56
1974 45.73
1975 48.58
1976 49.34
1977 49.27
1978 50.17
1979 51.13
1980 53.35
1981 53.01
1982 51.82
1983 52.55
1984 48.37
1985 47.76
1986 47.26
1987 46.92
1988 44.42
1989 44.39
1990 45.12
1991 44.69
1992 44.60
1993 44.29
1994 46.03
1995 47.81
1996 49.46
1997 50.19
1998 52.09
1999 49.52
2000 45.27
2001 50.38
2002 51.87
2003 54.18
2004 54.06
2005 53.43
2006 51.78
2007 51.29
2008 49.53
2009 52.06
2010 51.15
2011 49.31
2012 48.98
2013 49.25
2014 49.35
2015 51.37
2016 51.55
2017 51.23
2018 51.44
2019 51.80
2020 52.63

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.

Aggregation method: Weighted average

Periodicity: Annual

Classification

Topic: Economic Policy & Debt Indicators

Sub-Topic: National accounts