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

Services, etc., value added (% of GDP) in Lesotho was 57.38 as of 2016. Its highest value over the past 53 years was 69.39 in 1983, while its lowest value was 7.64 in 1964.

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
1963 7.82
1964 7.64
1965 11.43
1966 35.03
1967 38.99
1968 40.22
1969 41.95
1970 40.84
1971 58.55
1972 41.12
1973 30.22
1974 39.88
1975 43.51
1976 43.80
1977 38.68
1978 35.47
1979 32.72
1980 48.86
1981 48.56
1982 66.75
1983 69.39
1984 69.23
1985 69.13
1986 67.15
1987 67.82
1988 65.00
1989 64.99
1990 62.53
1991 61.36
1992 57.86
1993 57.80
1994 57.79
1995 57.29
1996 57.63
1997 60.62
1998 58.77
1999 56.51
2000 54.41
2001 51.05
2002 52.13
2003 53.49
2004 54.51
2005 55.34
2006 54.06
2007 55.03
2008 52.75
2009 59.59
2010 61.11
2011 59.60
2012 61.80
2013 62.11
2014 59.39
2015 57.81
2016 57.38

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