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

Services, etc., value added (% of GDP) in St. Lucia was 84.13 as of 2016. Its highest value over the past 39 years was 84.70 in 2014, while its lowest value was 67.43 in 1979.

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 70.32
1978 68.55
1979 67.43
1980 68.15
1981 69.48
1982 70.98
1983 72.66
1984 72.45
1985 71.47
1986 69.06
1987 73.36
1988 69.36
1989 70.41
1990 72.96
1991 73.66
1992 71.97
1993 73.89
1994 75.85
1995 75.78
1996 77.08
1997 78.67
1998 76.78
1999 76.61
2000 76.77
2001 78.88
2002 78.46
2003 79.52
2004 78.03
2005 77.77
2006 76.79
2007 81.68
2008 79.84
2009 79.84
2010 83.38
2011 84.04
2012 83.95
2013 83.14
2014 84.70
2015 84.56
2016 84.13

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