India - Services, value added (% of GDP)

Services, value added (% of GDP) in India was 48.89 as of 2020. Its highest value over the past 60 years was 49.86 in 2019, while its lowest value was 32.95 in 1973.

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 38.78
1961 38.33
1962 39.94
1963 38.10
1964 36.34
1965 37.45
1966 36.46
1967 34.61
1968 35.05
1969 34.31
1970 35.05
1971 35.80
1972 35.52
1973 32.95
1974 33.61
1975 35.14
1976 35.80
1977 34.66
1978 34.94
1979 35.52
1980 33.81
1981 33.87
1982 34.90
1983 34.52
1984 35.42
1985 36.12
1986 36.99
1987 37.45
1988 36.80
1989 37.23
1990 37.04
1991 37.79
1992 37.91
1993 38.49
1994 37.50
1995 37.85
1996 37.71
1997 39.08
1998 40.13
1999 41.97
2000 42.73
2001 43.81
2002 44.73
2003 44.70
2004 44.11
2005 44.44
2006 44.04
2007 44.01
2008 45.88
2009 45.98
2010 45.03
2011 45.44
2012 46.30
2013 46.70
2014 47.82
2015 47.78
2016 47.75
2017 47.67
2018 48.51
2019 49.86
2020 48.89

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