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

Services, etc., value added (% of GDP) in Vanuatu was 62.70 as of 2014. Its highest value over the past 35 years was 74.51 in 1980, while its lowest value was 61.02 in 2000.

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
1979 72.00
1980 74.51
1981 72.18
1982 73.31
1983 66.05
1984 65.36
1985 62.73
1986 65.84
1987 66.29
1988 66.79
1989 66.80
1990 65.04
1991 70.72
1992 72.90
1993 71.88
1994 71.02
1995 71.32
1996 71.81
1997 74.19
1998 61.58
1999 61.91
2000 61.02
2001 62.72
2002 62.40
2003 65.02
2004 64.77
2005 65.77
2006 67.03
2007 67.32
2008 66.37
2009 64.95
2010 63.19
2011 63.48
2012 63.62
2013 63.22
2014 62.70

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