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

Services, etc., value added (% of GDP) in Liberia was 52.80 as of 2016. Its highest value over the past 52 years was 53.09 in 2015, while its lowest value was 4.14 in 1996.

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
1964 35.34
1965 33.56
1966 35.38
1967 34.61
1968 36.34
1969 35.02
1970 34.36
1971 35.05
1972 34.61
1973 31.80
1974 28.76
1975 28.25
1976 30.67
1977 35.47
1978 36.25
1979 35.72
1980 35.98
1981 35.43
1982 36.18
1983 35.77
1984 36.09
1985 35.75
1986 34.86
1987 38.62
1988 38.02
1989 37.59
1990 28.82
1991 27.64
1992 33.11
1993 34.29
1994 33.51
1995 12.91
1996 4.14
1997 12.81
1998 14.27
1999 16.61
2000 19.68
2001 19.39
2002 17.86
2003 23.80
2004 27.18
2005 26.73
2006 30.30
2007 28.48
2008 27.73
2009 36.95
2010 50.20
2011 47.40
2012 44.80
2013 47.01
2014 48.53
2015 53.09
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