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

Services, etc., value added (% of GDP) in Ecuador was 55.06 as of 2016. Its highest value over the past 56 years was 58.25 in 2003, while its lowest value was 43.41 in 1962.

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
1960 44.99
1961 44.05
1962 43.41
1963 43.44
1964 43.88
1965 51.93
1966 54.05
1967 54.01
1968 51.55
1969 54.26
1970 51.17
1971 50.39
1972 50.07
1973 50.63
1974 50.11
1975 52.88
1976 52.72
1977 53.50
1978 54.21
1979 55.24
1980 56.95
1981 57.14
1982 56.19
1983 55.70
1984 51.65
1985 51.59
1986 50.96
1987 50.64
1988 47.34
1989 47.66
1990 48.70
1991 48.08
1992 48.98
1993 48.31
1994 50.62
1995 51.92
1996 53.41
1997 54.70
1998 57.30
1999 54.65
2000 48.01
2001 54.71
2002 56.44
2003 58.25
2004 57.84
2005 56.57
2006 54.46
2007 53.93
2008 51.37
2009 55.15
2010 53.50
2011 51.07
2012 51.35
2013 51.75
2014 51.81
2015 55.42
2016 55.06

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