The Bahamas - Services, etc., value added (% of GDP)

Services, etc., value added (% of GDP) in The Bahamas was 86.22 as of 2016. Its highest value over the past 32 years was 87.84 in 2015, while its lowest value was 78.29 in 1991.

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
1984 83.87
1985 83.95
1986 83.91
1987 83.43
1989 79.76
1990 81.04
1991 78.29
1992 78.65
1993 82.07
1994 79.63
1995 80.41
1996 80.28
1997 78.57
1998 79.11
1999 80.69
2000 79.60
2001 83.77
2002 81.79
2003 81.71
2004 82.76
2005 82.41
2006 80.54
2007 84.26
2008 82.74
2009 83.67
2010 81.41
2011 80.54
2012 84.51
2013 85.73
2014 83.83
2015 87.84
2016 86.22

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