Guatemala - Services, value added (% of GDP)

Services, value added (% of GDP) in Guatemala was 61.87 as of 2020. Its highest value over the past 55 years was 63.03 in 2018, while its lowest value was 52.60 in 1976.

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
1965 54.22
1966 53.65
1967 54.03
1968 53.42
1969 53.64
1970 54.02
1971 53.49
1972 52.95
1973 52.91
1974 53.38
1975 53.46
1976 52.60
1977 52.81
1978 52.96
1979 53.09
1980 53.17
1981 53.27
1982 53.64
1983 54.15
1984 54.62
1985 54.48
1986 54.30
1987 54.17
1988 53.96
1989 54.26
1990 54.33
1991 54.68
1992 54.71
1993 55.25
1994 55.83
1995 56.19
1996 56.26
1997 56.30
1998 56.57
1999 56.83
2000 57.39
2001 54.79
2002 54.34
2003 54.84
2004 54.97
2005 56.24
2006 56.72
2007 57.01
2008 58.04
2009 58.94
2010 59.47
2011 58.98
2012 59.53
2013 60.84
2014 60.90
2015 61.45
2016 61.89
2017 62.47
2018 63.03
2019 62.65
2020 61.87

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