St. Kitts and Nevis - Services, etc., value added (% of GDP)

Services, etc., value added (% of GDP) in St. Kitts and Nevis was 70.66 as of 2016. Its highest value over the past 39 years was 74.89 in 1985, while its lowest value was 64.22 in 2001.

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
1977 65.98
1978 70.03
1979 70.61
1980 67.75
1981 72.70
1982 69.86
1983 71.32
1984 72.43
1985 74.89
1986 71.47
1987 70.27
1988 66.51
1989 68.16
1990 67.38
1991 69.83
1992 69.93
1993 70.76
1994 73.37
1995 71.93
1996 72.50
1997 73.10
1998 72.48
1999 71.21
2000 68.21
2001 64.22
2002 66.08
2003 69.91
2004 71.61
2005 72.16
2006 71.14
2007 71.30
2008 71.84
2009 70.51
2010 70.06
2011 70.92
2012 73.60
2013 72.76
2014 71.06
2015 70.44
2016 70.66

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