Services, value added (% of GDP)

This indicator captures the economic contribution of the services sector to a nation's GDP, encompassing a wide array of activities classified under ISIC divisions 50-99. It reflects the net output generated by sectors such as wholesale and retail trade, hospitality, transportation, and diverse professional services, including health care and education. By calculating the value added—achieved by subtracting intermediate inputs from total outputs—this metric offers a comprehensive view of economic performance, devoid of depreciation considerations. Additionally, it accounts for imputed bank service charges, import duties, and statistical anomalies highlighted by national accounts compilers. This nuanced approach underscores the vital role of the services sector in driving economic growth and development, signaling trends that inform policy and investment decisions. Source: