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

Services, etc., value added (% of GDP) in Somalia was 27.52 as of 1986. Its highest value over the past 26 years was 33.99 in 1974, while its lowest value was 21.19 in 1960.

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 21.19
1961 21.94
1962 21.51
1963 22.92
1964 22.39
1965 23.73
1966 23.10
1967 24.85
1968 25.09
1969 24.59
1970 24.71
1971 25.43
1972 23.77
1973 25.58
1974 33.99
1975 33.32
1976 29.79
1977 26.97
1978 29.15
1979 31.21
1980 23.60
1981 24.05
1982 24.17
1983 26.14
1984 24.83
1985 25.56
1986 27.52

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