Sierra Leone - Services, value added (% of GDP)

Services, value added (% of GDP) in Sierra Leone was 30.98 as of 2020. Its highest value over the past 56 years was 45.15 in 1983, while its lowest value was 12.44 in 1999.

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
1964 33.57
1965 36.23
1966 35.91
1967 40.26
1968 41.76
1969 37.42
1970 36.41
1971 39.27
1972 40.89
1973 38.09
1974 37.54
1975 38.62
1976 41.73
1977 41.89
1978 40.01
1979 41.01
1980 41.41
1981 43.58
1982 44.16
1983 45.15
1984 44.46
1985 39.03
1986 42.04
1987 33.97
1988 39.55
1989 39.74
1990 31.80
1991 24.11
1992 19.92
1993 22.20
1994 19.19
1995 17.13
1996 13.74
1997 13.37
1998 12.96
1999 12.44
2000 12.49
2001 41.46
2002 40.18
2003 38.78
2004 35.99
2005 36.23
2006 35.58
2007 34.72
2008 35.10
2009 34.60
2010 35.26
2011 35.25
2012 32.56
2013 28.48
2014 29.83
2015 33.87
2016 33.29
2017 32.00
2018 32.35
2019 32.80
2020 30.98

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