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

Services, etc., value added (% of GDP) in Cuba was 73.53 as of 2015. Its highest value over the past 45 years was 74.10 in 2006, while its lowest value was 64.77 in 1997.

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
1970 68.05
1971 68.05
1972 68.05
1973 68.05
1974 68.05
1975 68.05
1976 68.04
1977 68.05
1978 68.05
1979 68.06
1980 68.08
1981 67.95
1982 68.09
1983 68.09
1984 68.07
1985 68.22
1986 67.28
1987 68.77
1988 68.09
1989 67.99
1990 67.38
1991 68.96
1992 69.10
1993 72.26
1994 69.89
1995 68.36
1996 65.67
1997 64.77
1998 67.51
1999 68.05
2000 67.44
2001 68.36
2002 70.07
2003 71.45
2004 72.20
2005 73.81
2006 74.10
2007 73.26
2008 73.40
2009 73.19
2010 73.22
2011 73.84
2012 72.47
2013 72.61
2014 73.64
2015 73.53

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.

Classification

Topic: Economic Policy & Debt Indicators

Sub-Topic: National accounts