Singapore - Services, etc., value added (% of GDP)

Services, etc., value added (% of GDP) in Singapore was 73.82 as of 2016. Its highest value over the past 56 years was 78.82 in 1960, while its lowest value was 62.20 in 1980.

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. Note: For VAB countries, gross value added at factor cost is used as the denominator.

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

See also:

Year Value
1960 78.82
1961 78.57
1962 77.75
1963 76.96
1964 74.18
1965 73.33
1966 73.01
1967 72.66
1968 71.71
1969 71.04
1970 68.83
1971 67.40
1972 65.27
1973 65.64
1974 65.57
1975 65.41
1976 64.72
1977 64.96
1978 65.63
1979 63.97
1980 62.20
1981 62.76
1982 64.06
1983 63.01
1984 62.35
1985 65.60
1986 64.90
1987 65.45
1988 64.40
1989 65.73
1990 67.32
1991 65.67
1992 65.81
1993 65.76
1994 66.28
1995 66.09
1996 66.21
1997 66.77
1998 66.12
1999 67.10
2000 65.07
2001 67.63
2002 67.61
2003 68.17
2004 66.67
2005 67.58
2006 68.24
2007 70.61
2008 72.63
2009 72.09
2010 72.33
2011 73.69
2012 73.61
2013 75.20
2014 74.36
2015 73.83
2016 73.82

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.

Aggregation method: Weighted average

Periodicity: Annual

General Comments: Note: Data for OECD countries are based on ISIC, revision 4.

Classification

Topic: Economic Policy & Debt Indicators

Sub-Topic: National accounts