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

Services, etc., value added (% of GDP) in Georgia was 66.14 as of 2016. Its highest value over the past 36 years was 69.38 in 2010, while its lowest value was 19.43 in 1993.

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
1980 40.00
1981 39.13
1982 38.84
1983 39.84
1984 38.17
1985 35.11
1986 35.94
1987 37.88
1988 38.24
1989 38.35
1990 35.21
1991 34.27
1992 23.17
1993 19.43
1994 23.85
1995 32.07
1996 42.14
1997 47.14
1998 49.54
1999 51.23
2000 55.71
2001 55.60
2002 55.03
2003 53.80
2004 55.66
2005 56.47
2006 62.32
2007 65.00
2008 68.74
2009 68.73
2010 69.38
2011 67.35
2012 66.91
2013 66.57
2014 66.75
2015 66.21
2016 66.14

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