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

Services, etc., value added (% of GDP) in Guyana was 52.80 as of 2016. Its highest value over the past 56 years was 59.73 in 2014, while its lowest value was 26.12 in 1995.

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
1960 42.80
1961 42.48
1962 39.48
1963 40.31
1964 40.41
1965 40.94
1966 42.30
1967 41.74
1968 41.21
1969 39.87
1970 40.55
1971 41.35
1972 43.38
1973 48.28
1974 36.55
1975 34.55
1976 42.13
1977 43.61
1978 42.98
1979 43.69
1980 40.87
1981 47.26
1982 47.68
1983 53.00
1984 50.93
1985 48.53
1986 46.22
1987 39.94
1988 44.39
1989 30.64
1990 37.04
1991 29.61
1992 30.23
1993 28.11
1994 26.35
1995 26.12
1996 27.30
1997 30.82
1998 34.61
1999 35.38
2000 39.88
2001 40.78
2002 40.59
2003 41.37
2004 41.73
2005 45.43
2006 46.09
2007 45.63
2008 43.01
2009 57.94
2010 57.63
2011 57.20
2012 56.85
2013 57.55
2014 59.73
2015 58.89
2016 52.80

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