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

Services, etc., value added (% of GDP) in Grenada was 78.11 as of 2016. Its highest value over the past 39 years was 80.13 in 2012, while its lowest value was 67.10 in 1979.

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
1977 67.53
1978 69.46
1979 67.10
1980 69.86
1981 67.43
1982 67.96
1983 69.38
1984 70.67
1985 72.08
1986 71.73
1987 68.95
1988 69.13
1989 71.79
1990 73.63
1991 71.41
1992 73.07
1993 74.23
1994 74.01
1995 73.57
1996 74.84
1997 74.40
1998 74.37
1999 73.45
2000 73.25
2001 74.88
2002 73.66
2003 73.48
2004 75.00
2005 70.09
2006 72.88
2007 74.01
2008 75.41
2009 77.92
2010 77.73
2011 79.27
2012 80.13
2013 79.04
2014 78.09
2015 76.93
2016 78.11

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