Austria - Services, value added (% of GDP)

Services, value added (% of GDP) in Austria was 63.15 as of 2020. Its highest value over the past 44 years was 63.21 in 2019, while its lowest value was 49.60 in 1976.

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
1976 49.60
1977 50.53
1978 50.53
1979 51.69
1980 51.60
1981 52.20
1982 53.44
1983 54.00
1984 54.22
1985 54.59
1986 55.04
1987 55.59
1988 55.73
1989 56.07
1990 56.11
1991 56.45
1992 57.35
1993 58.40
1994 58.17
1995 58.92
1996 58.68
1997 58.49
1998 58.86
1999 58.73
2000 59.31
2001 59.49
2002 60.30
2003 60.39
2004 60.32
2005 60.57
2006 60.70
2007 60.32
2008 61.03
2009 62.17
2010 62.29
2011 62.28
2012 62.00
2013 62.33
2014 62.65
2015 62.88
2016 62.60
2017 62.56
2018 62.86
2019 63.21
2020 63.15

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