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

Services, etc., value added (% of GDP) in Nigeria was 60.42 as of 2016. Its highest value over the past 35 years was 60.42 in 2016, while its lowest value was 19.74 in 1992.

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 31.52
1982 32.13
1983 33.66
1984 31.75
1985 30.93
1986 32.51
1987 27.44
1988 26.56
1989 24.25
1990 23.21
1991 23.02
1992 19.74
1993 23.41
1994 28.33
1995 21.92
1996 20.35
1997 21.83
1998 27.39
1999 26.84
2000 21.76
2001 25.37
2002 20.92
2003 20.54
2004 23.70
2005 23.74
2006 26.08
2007 26.63
2008 25.67
2009 28.74
2010 50.79
2011 49.36
2012 50.63
2013 52.97
2014 54.82
2015 58.76
2016 60.42

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