Belize - Services, etc., value added (% of GDP)

Services, etc., value added (% of GDP) in Belize was 68.27 as of 2015. Its highest value over the past 37 years was 68.27 in 2015, while its lowest value was 41.69 in 1980.

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. Note: For VAB countries, gross value added at factor cost is used as the denominator.

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

See also:

Year Value
1978 43.99
1979 47.31
1980 41.69
1981 46.41
1982 53.20
1983 54.28
1984 52.17
1985 54.66
1986 54.51
1987 49.65
1988 49.26
1989 53.14
1990 57.83
1991 59.87
1992 60.68
1993 61.41
1994 62.56
1995 61.58
1996 61.17
1997 62.28
1998 63.00
1999 63.52
2000 62.06
2001 64.28
2002 65.47
2003 65.74
2004 65.77
2005 67.30
2006 64.88
2007 65.55
2008 65.15
2009 65.72
2010 65.11
2011 64.26
2012 64.82
2013 65.17
2014 65.57
2015 68.27

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.

Aggregation method: Weighted average

Periodicity: Annual

General Comments: Note: Data for OECD countries are based on ISIC, revision 4.


Topic: Economic Policy & Debt Indicators

Sub-Topic: National accounts