Saudi Arabia - Services, value added (% of GDP)

Services, value added (% of GDP) in Saudi Arabia was 56.24 as of 2020. Its highest value over the past 50 years was 58.51 in 1986, while its lowest value was 15.92 in 1974.

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
1970 36.50
1971 30.37
1972 28.92
1973 27.33
1974 15.92
1975 27.28
1976 28.72
1977 31.92
1978 38.61
1979 34.40
1980 27.95
1981 28.68
1982 39.12
1983 48.97
1984 51.71
1985 55.52
1986 58.51
1987 55.57
1988 55.12
1989 51.74
1990 45.49
1991 46.16
1992 42.81
1993 46.05
1994 46.42
1995 45.51
1996 42.69
1997 44.09
1998 50.17
1999 47.14
2000 41.43
2001 44.30
2002 44.21
2003 41.76
2004 39.66
2005 35.20
2006 34.64
2007 34.61
2008 31.13
2009 42.52
2010 39.22
2011 34.26
2012 35.20
2013 37.98
2014 40.53
2015 51.95
2016 54.02
2017 51.60
2018 48.37
2019 50.44
2020 56.24

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