Upper middle income - Services, value added (% of GDP)

Services, value added (% of GDP) in Upper middle income was 55.95 as of 2020. Its highest value over the past 60 years was 55.95 in 2020, while its lowest value was 32.69 in 1966.

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 34.58
1961 33.36
1962 34.90
1963 34.71
1964 33.58
1965 33.48
1966 32.69
1967 34.20
1968 34.92
1969 34.97
1970 34.26
1971 34.00
1972 34.06
1973 33.63
1974 34.22
1975 33.80
1976 34.18
1977 35.19
1978 35.73
1979 35.74
1980 37.23
1981 39.49
1982 38.01
1983 37.32
1984 37.51
1985 38.03
1986 37.56
1987 37.76
1988 38.79
1989 41.33
1990 43.73
1991 47.33
1992 52.14
1993 51.82
1994 49.90
1995 50.54
1996 50.51
1997 50.86
1998 51.31
1999 50.81
2000 50.78
2001 51.30
2002 50.89
2003 50.72
2004 49.61
2005 49.56
2006 49.67
2007 50.05
2008 49.34
2009 50.99
2010 50.38
2011 50.16
2012 50.74
2013 51.67
2014 52.40
2015 53.87
2016 54.90
2017 55.05
2018 54.91
2019 55.69
2020 55.95

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