Guyana - Services, value added (% of GDP)

Services, value added (% of GDP) in Guyana was 38.92 as of 2020. Its highest value over the past 60 years was 45.95 in 2018, while its lowest value was 21.88 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 or 4.

Source: World Bank national accounts data, and OECD National Accounts data files.

See also:

Year Value
1960 38.49
1961 38.39
1962 36.06
1963 36.54
1964 36.33
1965 36.72
1966 37.22
1967 36.80
1968 36.34
1969 35.02
1970 35.59
1971 36.54
1972 38.41
1973 43.16
1974 33.30
1975 31.93
1976 38.50
1977 39.53
1978 38.50
1979 38.84
1980 36.21
1981 39.95
1982 41.22
1983 43.32
1984 42.99
1985 40.72
1986 39.12
1987 34.50
1988 38.62
1989 26.91
1990 32.67
1991 25.55
1992 26.13
1993 23.55
1994 22.24
1995 21.88
1996 22.68
1997 25.92
1998 28.99
1999 30.07
2000 33.15
2001 34.30
2002 34.53
2003 35.40
2004 34.86
2005 37.92
2006 40.27
2007 40.59
2008 39.52
2009 40.98
2010 41.56
2011 42.80
2012 43.00
2013 42.96
2014 44.78
2015 44.10
2016 44.30
2017 44.32
2018 45.95
2019 44.71
2020 38.92

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