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

Services, etc., value added (% of GDP) in Mongolia was 50.54 as of 2016. Its highest value over the past 35 years was 58.28 in 1981, while its lowest value was 30.95 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. 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
1981 58.28
1982 56.27
1983 55.27
1984 55.83
1985 56.42
1986 53.05
1987 55.19
1988 54.55
1989 45.69
1990 44.66
1991 48.80
1992 35.90
1993 39.60
1994 37.23
1995 30.95
1996 33.82
1997 34.55
1998 40.45
1999 40.77
2000 44.13
2001 48.48
2002 52.95
2003 50.84
2004 45.41
2005 41.73
2006 37.36
2007 37.65
2008 44.21
2009 47.35
2010 49.95
2011 52.37
2012 52.72
2013 50.45
2014 50.54
2015 51.67
2016 50.54

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