Dominican Republic - Services, value added (% of GDP)

Services, value added (% of GDP) in Dominican Republic was 57.20 as of 2020. Its highest value over the past 60 years was 87.33 in 1963, while its lowest value was 34.89 in 1975.

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 85.66
1961 86.91
1962 86.70
1963 87.33
1964 87.08
1965 45.32
1966 41.16
1967 40.81
1968 41.15
1969 39.85
1970 39.83
1971 39.95
1972 41.47
1973 39.97
1974 35.79
1975 34.89
1976 39.84
1977 40.63
1978 44.40
1979 43.02
1980 43.07
1981 44.54
1982 45.99
1983 44.03
1984 40.52
1985 59.43
1986 49.87
1987 60.19
1988 51.57
1989 47.03
1990 47.67
1991 46.76
1992 47.35
1993 48.75
1994 49.62
1995 49.80
1996 49.85
1997 50.74
1998 49.42
1999 50.65
2000 52.14
2001 53.96
2002 53.78
2003 55.16
2004 55.14
2005 55.77
2006 55.60
2007 54.93
2008 57.24
2009 59.16
2010 59.29
2011 59.64
2012 59.91
2013 58.93
2014 58.72
2015 59.06
2016 59.85
2017 59.43
2018 58.63
2019 58.29
2020 57.20

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