Services, value added (constant LCU)

This indicator encapsulates the economic contributions of sectors classified under ISIC divisions 50-99, representing a broad spectrum of service-oriented industries. It includes value generated from wholesale and retail activities, hospitality, transportation, as well as essential services like education, healthcare, and real estate management. Additionally, it acknowledges the financial intricacies involved, such as imputed bank service charges and import duties. The computation reflects the net output, effectively illustrating the sector’s productivity by subtracting intermediate inputs from total outputs, all while maintaining the value in constant local currency to adjust for inflation. Importantly, this metric highlights the resilience and dynamic nature of the service sector, acting as a crucial barometer for economic health and development over time, without factoring in asset depreciation or environmental resource impacts. Source: