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

Services, etc., value added (% of GDP) in Philippines was 59.52 as of 2016. Its highest value over the past 56 years was 59.52 in 2016, while its lowest value was 34.45 in 1977.

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
1960 41.79
1961 41.57
1962 42.06
1963 41.01
1964 42.13
1965 41.74
1966 41.92
1967 41.13
1968 40.20
1969 39.88
1970 38.59
1971 37.33
1972 37.03
1973 35.32
1974 34.45
1975 34.66
1976 34.58
1977 34.45
1978 34.91
1979 35.08
1980 36.10
1981 35.94
1982 37.82
1983 38.40
1984 37.34
1985 40.35
1986 41.48
1987 41.56
1988 41.88
1989 42.41
1990 43.62
1991 45.00
1992 45.34
1993 45.71
1994 45.47
1995 46.31
1996 47.30
1997 48.99
1998 50.85
1999 51.73
2000 51.58
2001 52.30
2002 52.27
2003 52.73
2004 52.94
2005 53.50
2006 54.14
2007 54.45
2008 53.88
2009 55.21
2010 55.12
2011 55.93
2012 56.92
2013 57.63
2014 57.34
2015 58.84
2016 59.52

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