Lower middle income - Services, value added (% of GDP)

Services, value added (% of GDP) in Lower middle income was 49.17 as of 2020. Its highest value over the past 39 years was 49.75 in 2016, while its lowest value was 38.53 in 1990.

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
1981 38.93
1982 39.21
1983 39.21
1984 39.32
1985 40.37
1986 41.04
1987 39.08
1988 38.91
1989 38.84
1990 38.53
1991 39.15
1992 39.83
1993 41.90
1994 41.39
1995 42.14
1996 41.86
1997 42.88
1998 44.00
1999 44.31
2000 44.05
2001 45.71
2002 45.55
2003 45.63
2004 45.49
2005 45.49
2006 45.66
2007 45.82
2008 46.03
2009 47.21
2010 46.61
2011 46.11
2012 47.18
2013 47.65
2014 48.40
2015 49.61
2016 49.75
2017 49.12
2018 48.86
2019 49.54
2020 49.17

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