Croatia - Services, value added (% of GDP)

Services, value added (% of GDP) in Croatia was 59.35 as of 2020. Its highest value over the past 25 years was 60.20 in 2011, while its lowest value was 50.71 in 1995.

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
1995 50.71
1996 52.83
1997 51.50
1998 52.64
1999 53.98
2000 53.72
2001 54.40
2002 55.20
2003 56.31
2004 55.49
2005 56.64
2006 56.71
2007 57.89
2008 57.87
2009 58.78
2010 59.84
2011 60.20
2012 59.81
2013 59.38
2014 59.60
2015 59.43
2016 59.38
2017 59.72
2018 59.59
2019 59.51
2020 59.35

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