Seychelles - Services, value added (constant 2010 US$)

The latest value for Services, value added (constant 2010 US$) in Seychelles was 989,842,900 as of 2020. Over the past 43 years, the value for this indicator has fluctuated between 1,105,960,000 in 2019 and 266,642,900 in 1983.

Definition: Services correspond to ISIC divisions 50-99. 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. Data are in constant 2010 U.S. dollars.

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

See also:

Year Value
1977 290,059,500
1978 290,059,500
1979 358,561,200
1980 343,232,600
1981 306,899,400
1982 271,955,700
1983 266,642,900
1984 279,152,100
1985 304,839,100
1986 299,362,200
1987 325,115,500
1988 323,104,900
1989 360,045,700
1990 383,051,100
1991 405,644,800
1992 419,845,300
1993 414,757,200
1994 433,413,200
1995 447,123,300
1996 464,305,600
1997 524,965,200
1998 560,195,600
1999 579,436,000
2000 610,046,100
2001 593,012,500
2002 580,403,400
2003 568,435,100
2004 516,884,200
2005 557,029,700
2006 618,033,800
2007 688,125,600
2008 678,329,800
2009 689,351,400
2010 726,462,800
2011 746,653,100
2012 791,099,600
2013 883,049,300
2014 928,157,400
2015 971,870,300
2016 1,024,833,000
2017 1,079,597,000
2018 1,091,462,000
2019 1,105,960,000
2020 989,842,900

Development Relevance: An economy's growth is measured by the change in the volume of its output or in the real incomes of its residents. The 2008 United Nations System of National Accounts (2008 SNA) offers three plausible indicators for calculating growth: the volume of gross domestic product (GDP), real gross domestic income, and real gross national income. The volume of GDP is the sum of value added, measured at constant prices, by households, government, and industries operating in the economy. GDP accounts for all domestic production, regardless of whether the income accrues to domestic or foreign institutions.

Limitations and Exceptions: In the services industries, including most of government, value added in constant prices is often imputed from labor inputs, such as real wages or number of employees. In the absence of well defined measures of output, measuring the growth of services remains difficult.

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: Gap-filled total

Base Period: 2010

Periodicity: Annual

Classification

Topic: Economic Policy & Debt Indicators

Sub-Topic: National accounts