Guinea-Bissau - Services, value added (% of GDP)

Services, value added (% of GDP) in Guinea-Bissau was 50.19 as of 2020. Its highest value over the past 50 years was 51.24 in 2019, while its lowest value was 19.29 in 1990.

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
1970 31.30
1971 33.07
1972 31.76
1973 32.72
1974 33.13
1975 26.87
1976 36.38
1977 31.21
1978 28.40
1979 28.55
1980 39.08
1981 34.81
1982 38.83
1983 46.10
1984 44.31
1985 37.87
1986 34.95
1987 27.15
1988 25.41
1989 31.97
1990 19.29
1991 34.24
1992 38.67
1993 33.17
1994 30.88
1995 30.81
1996 29.02
1997 29.57
1998 24.56
1999 26.65
2000 41.80
2001 46.07
2002 38.82
2003 38.27
2004 39.39
2005 38.98
2006 41.39
2007 41.63
2008 38.28
2009 40.74
2010 39.37
2011 40.56
2012 38.07
2013 40.11
2014 41.93
2015 36.43
2016 36.35
2017 32.52
2018 50.26
2019 51.24
2020 50.19

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