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

Services, value added (% of GDP) in Puerto Rico was 48.84 as of 2020. Its highest value over the past 60 years was 64.14 in 1975, while its lowest value was 47.88 in 2015.

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 or 4.

Source: World Bank national accounts data, and OECD National Accounts data files.

See also:

Year Value
1960 59.61
1963 60.40
1964 61.69
1965 62.73
1966 63.85
1967 63.09
1968 62.57
1969 62.57
1970 63.33
1971 60.74
1972 61.46
1973 62.66
1974 61.02
1975 64.14
1976 62.33
1977 61.76
1978 60.36
1979 58.61
1980 56.90
1981 55.49
1982 56.70
1983 57.98
1984 57.06
1985 57.16
1986 57.11
1987 57.59
1988 57.20
1989 56.97
1990 57.00
1991 57.78
1992 56.80
1993 51.46
1994 56.27
1995 56.65
1996 57.07
1997 57.95
1998 55.30
1999 55.28
2000 52.33
2001 50.04
2002 49.81
2003 50.24
2004 49.53
2005 52.00
2006 52.30
2007 53.26
2008 52.38
2009 49.51
2010 48.56
2011 48.87
2012 48.99
2013 49.51
2014 48.99
2015 47.88
2016 48.35
2017 48.44
2018 48.82
2019 48.21
2020 48.84

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. Financial intermediation services indirectly measured (FISIM) is an indirect measure of the value of financial intermediation services (i.e. output) provided but for which financial institutions do not charge explicitly as compared to explicit bank charges. Although the 1993 SNA recommends that the FISIM are allocated as intermediate and final consumption to the users, many countries still make a global (negative) adjustment to the sum of gross value added.

Aggregation method: Weighted average

Periodicity: Annual

Classification

Topic: Economic Policy & Debt Indicators

Sub-Topic: National accounts