Suriname - Services, value added (% of GDP)

Services, value added (% of GDP) in Suriname was 53.13 as of 2020. Its highest value over the past 60 years was 66.02 in 1987, while its lowest value was 33.16 in 1995.

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 39.24
1961 40.71
1962 41.54
1963 40.81
1964 41.59
1965 40.71
1966 36.41
1967 35.82
1968 36.65
1969 36.45
1970 40.31
1971 38.72
1972 41.38
1973 39.40
1974 33.20
1975 40.50
1976 43.01
1977 42.23
1978 44.51
1979 44.37
1980 48.36
1981 49.89
1982 54.43
1983 56.93
1984 56.08
1985 59.56
1986 62.91
1987 66.02
1988 63.87
1989 65.24
1990 50.85
1991 54.18
1992 52.64
1993 49.58
1994 36.54
1995 33.16
1996 36.55
1997 42.77
1998 46.71
1999 46.56
2000 46.01
2001 42.48
2002 43.78
2003 43.02
2004 41.43
2005 41.36
2006 45.41
2007 44.75
2008 44.15
2009 47.71
2010 48.24
2011 47.00
2012 47.66
2013 50.78
2014 52.26
2015 54.50
2016 57.08
2017 48.19
2018 50.83
2019 55.81
2020 53.13

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. 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