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

Services, etc., value added (% of GDP) in Uruguay was 64.41 as of 2016. Its highest value over the past 33 years was 68.95 in 2001, while its lowest value was 50.46 in 1987.

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
1983 53.46
1984 50.96
1985 50.46
1986 51.12
1987 50.46
1988 53.76
1989 55.43
1990 56.15
1991 55.95
1992 58.40
1993 62.97
1994 64.08
1995 62.46
1996 63.44
1997 65.92
1998 65.78
1999 67.27
2000 68.53
2001 68.95
2002 66.99
2003 62.80
2004 61.51
2005 62.50
2006 62.88
2007 62.63
2008 63.29
2009 63.59
2010 63.70
2011 63.87
2012 64.62
2013 64.33
2014 64.21
2015 64.14
2016 64.41

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.


Topic: Economic Policy & Debt Indicators

Sub-Topic: National accounts