South Africa - Services, value added (% of GDP)

Services, value added (% of GDP) in South Africa was 64.57 as of 2020. Its highest value over the past 60 years was 64.57 in 2020, while its lowest value was 43.07 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 or 4.

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

See also:

Year Value
1960 48.40
1961 48.22
1962 48.57
1963 48.61
1964 48.84
1965 48.51
1966 48.74
1967 49.44
1968 50.77
1969 50.26
1970 51.24
1971 52.16
1972 51.30
1973 50.05
1974 48.30
1975 48.47
1976 48.92
1977 49.18
1978 47.74
1979 45.50
1980 43.07
1981 45.12
1982 46.53
1983 47.47
1984 48.27
1985 47.46
1986 47.38
1987 48.90
1988 48.29
1989 49.03
1990 50.47
1991 52.39
1992 55.34
1993 57.31
1994 57.31
1995 58.23
1996 59.21
1997 59.96
1998 60.40
1999 61.41
2000 61.19
2001 60.78
2002 60.79
2003 62.58
2004 62.53
2005 62.64
2006 63.50
2007 62.75
2008 61.54
2009 63.64
2010 64.28
2011 64.34
2012 64.30
2013 64.05
2014 64.01
2015 64.10
2016 63.91
2017 64.33
2018 64.19
2019 64.36
2020 64.57

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