The Gambia - Services, value added (constant 2010 US$)

The latest value for Services, value added (constant 2010 US$) in The Gambia was 849,081,700 as of 2020. Over the past 53 years, the value for this indicator has fluctuated between 914,546,500 in 2019 and 116,552,600 in 1967.

Definition: Services correspond to ISIC divisions 50-99. 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. Data are in constant 2010 U.S. dollars.

Source: World Bank national accounts data, and OECD National Accounts data files.

See also:

Year Value
1967 116,552,600
1968 128,950,500
1969 132,080,700
1970 140,059,500
1971 140,059,500
1972 140,427,800
1973 153,316,700
1974 162,338,900
1975 182,470,200
1976 192,781,300
1977 196,279,700
1978 208,186,600
1979 205,915,700
1980 232,417,800
1981 250,720,000
1982 237,456,700
1983 251,217,200
1984 268,427,000
1985 274,478,600
1986 264,545,000
1987 280,610,000
1988 288,449,100
1989 294,034,700
1990 315,543,700
1991 313,322,800
1992 335,030,500
1993 372,550,700
1994 365,696,900
1995 387,086,000
1996 399,186,100
1997 416,082,700
1998 439,455,700
1999 436,431,400
2000 458,571,500
2001 479,492,900
2002 483,461,100
2003 497,716,000
2004 537,664,800
2005 525,245,200
2006 569,536,300
2007 607,229,000
2008 589,292,500
2009 609,608,700
2010 625,392,400
2011 642,535,900
2012 671,734,500
2013 707,264,100
2014 716,876,500
2015 715,133,100
2016 700,257,800
2017 782,418,300
2018 861,583,300
2019 914,546,500
2020 849,081,700

Development Relevance: An economy's growth is measured by the change in the volume of its output or in the real incomes of its residents. The 2008 United Nations System of National Accounts (2008 SNA) offers three plausible indicators for calculating growth: the volume of gross domestic product (GDP), real gross domestic income, and real gross national income. The volume of GDP is the sum of value added, measured at constant prices, by households, government, and industries operating in the economy. GDP accounts for all domestic production, regardless of whether the income accrues to domestic or foreign institutions.

Limitations and Exceptions: In the services industries, including most of government, value added in constant prices is often imputed from labor inputs, such as real wages or number of employees. In the absence of well defined measures of output, measuring the growth of services remains difficult.

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: Gap-filled total

Base Period: 2010

Periodicity: Annual

Classification

Topic: Economic Policy & Debt Indicators

Sub-Topic: National accounts