Seychelles - Services, value added (% of GDP)

Services, value added (% of GDP) in Seychelles was 68.14 as of 2020. Its highest value over the past 44 years was 71.01 in 2016, while its lowest value was 46.44 in 2003.

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
1976 67.25
1977 69.44
1978 69.72
1979 69.35
1980 69.53
1981 59.49
1982 60.09
1983 58.98
1984 60.56
1985 63.40
1986 60.70
1987 62.95
1988 58.18
1989 59.79
1990 55.23
1991 55.08
1992 53.83
1993 50.86
1994 60.13
1995 60.68
1996 60.10
1997 60.79
1998 60.64
1999 60.20
2000 50.50
2001 51.69
2002 48.88
2003 46.44
2004 62.49
2005 63.21
2006 65.89
2007 67.95
2008 67.62
2009 70.34
2010 68.49
2011 63.89
2012 67.54
2013 69.73
2014 69.12
2015 70.55
2016 71.01
2017 70.27
2018 69.77
2019 70.45
2020 68.14

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