Trinidad and Tobago - Services, etc., value added (% of GDP)

Services, etc., value added (% of GDP) in Trinidad and Tobago was 65.46 as of 2016. Its highest value over the past 32 years was 65.46 in 2016, while its lowest value was 33.40 in 2008.

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 52.03
1985 53.09
1986 57.95
1987 55.76
1988 56.74
1989 53.73
1990 50.20
1991 49.39
1992 51.66
1993 52.50
1994 48.98
1995 50.64
1996 50.76
1997 52.96
1998 57.00
1999 55.42
2000 49.10
2001 51.59
2002 53.72
2003 45.75
2004 41.73
2005 39.18
2006 38.16
2007 37.54
2008 33.40
2009 43.89
2010 43.15
2011 40.70
2012 44.04
2013 47.68
2014 50.95
2015 59.03
2016 65.46

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