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

Services, etc., value added (% of GDP) in Guinea was 48.58 as of 2016. Its highest value over the past 30 years was 55.21 in 1992, while its lowest value was 41.08 in 2005.

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
1986 41.49
1987 43.01
1988 42.85
1989 42.04
1990 42.89
1991 49.60
1992 55.21
1993 52.61
1994 53.12
1995 51.56
1996 51.22
1997 48.86
1998 45.65
1999 47.38
2000 44.16
2001 42.78
2002 42.67
2003 43.58
2004 42.17
2005 41.08
2006 47.38
2007 48.92
2008 47.20
2009 47.65
2010 46.64
2011 47.40
2012 48.34
2013 47.98
2014 47.79
2015 50.31
2016 48.58

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