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

Services, etc., value added (% of GDP) in Puerto Rico was 3.70 as of 2013. Its highest value over the past 42 years was 44.20 in 1971, while its lowest value was 2.43 in 2010.

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
1971 44.20
1972 40.91
1973 38.21
1974 32.86
1975 32.45
1976 24.48
1977 25.30
1978 21.83
1979 22.31
1980 18.46
1981 20.09
1982 18.93
1983 18.06
1984 16.18
1985 15.45
1986 15.66
1987 13.92
1988 13.46
1989 15.11
1990 14.79
1991 15.66
1992 12.35
1993 10.83
1994 10.43
1995 11.45
1996 13.56
1997 14.84
1998 10.29
1999 15.35
2000 17.27
2001 12.70
2002 10.07
2003 10.75
2004 11.42
2005 12.27
2006 12.84
2007 12.90
2008 11.19
2009 6.29
2010 2.43
2011 3.84
2012 6.08
2013 3.70

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