The Gambia - Services, value added (% of GDP)

Services, value added (% of GDP) in The Gambia was 51.13 as of 2020. Its highest value over the past 54 years was 67.59 in 1993, while its lowest value was 48.80 in 2016.

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
1966 59.47
1967 59.39
1968 59.42
1969 59.46
1970 61.54
1971 61.44
1972 59.46
1973 59.53
1974 59.49
1975 59.04
1976 57.75
1977 59.45
1978 61.41
1979 61.66
1980 59.97
1981 56.89
1982 55.00
1983 56.79
1984 55.35
1985 59.97
1986 59.87
1987 58.60
1988 63.11
1989 63.73
1990 64.65
1991 66.48
1992 67.50
1993 67.59
1994 66.14
1995 63.77
1996 61.35
1997 63.85
1998 64.73
1999 60.39
2000 60.65
2001 59.81
2002 60.07
2003 58.40
2004 51.06
2005 50.74
2006 55.60
2007 57.36
2008 52.99
2009 51.10
2010 49.20
2011 54.90
2012 54.45
2013 55.13
2014 56.44
2015 51.89
2016 48.80
2017 53.43
2018 54.90
2019 54.81
2020 51.13

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