Honduras - Services, value added (% of GDP)

Services, value added (% of GDP) in Honduras was 57.11 as of 2018. Its highest value over the past 58 years was 61.06 in 2009, while its lowest value was 36.57 in 1978.

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 39.51
1961 38.95
1962 38.08
1963 39.12
1964 38.80
1965 37.16
1966 38.07
1967 37.28
1968 37.02
1969 38.44
1970 41.01
1971 41.52
1972 42.09
1973 40.93
1974 40.89
1975 43.06
1976 43.10
1977 40.58
1978 36.57
1979 39.04
1980 41.61
1981 45.18
1982 46.52
1983 48.75
1984 48.62
1985 49.81
1986 49.86
1987 48.98
1988 48.35
1989 46.89
1990 44.25
1991 46.44
1992 45.57
1993 47.57
1994 45.91
1995 46.11
1996 45.79
1997 47.36
1998 47.84
1999 50.69
2000 50.74
2001 53.02
2002 54.84
2003 55.66
2004 56.03
2005 56.40
2006 56.95
2007 58.34
2008 59.64
2009 61.06
2010 60.64
2011 58.21
2012 58.62
2013 60.97
2014 60.15
2015 58.83
2016 58.38
2017 56.82
2018 57.11

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