St. Vincent and the Grenadines - Services, etc., value added (% of GDP)

Services, etc., value added (% of GDP) in St. Vincent and the Grenadines was 74.10 as of 2016. Its highest value over the past 39 years was 74.96 in 2012, while its lowest value was 63.28 in 1988.

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 70.64
1978 66.89
1979 66.94
1980 69.78
1981 67.80
1982 68.23
1983 69.30
1984 67.59
1985 66.95
1986 65.64
1987 66.47
1988 63.28
1989 64.14
1990 64.65
1991 66.19
1992 64.58
1993 67.79
1994 70.29
1995 68.68
1996 70.21
1997 70.62
1998 69.77
1999 71.35
2000 71.69
2001 73.30
2002 74.61
2003 74.78
2004 74.58
2005 74.88
2006 74.64
2007 72.74
2008 74.11
2009 73.59
2010 73.34
2011 74.16
2012 74.96
2013 74.54
2014 74.80
2015 74.44
2016 74.10

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.


Topic: Economic Policy & Debt Indicators

Sub-Topic: National accounts