Iceland - Services, value added (constant LCU)
The value for Services, value added (constant LCU) in Iceland was 1,675,240,000,000 as of 2020. As the graph below shows, over the past 25 years this indicator reached a maximum value of 1,797,290,000,000 in 2019 and a minimum value of 677,742,000,000 in 1995.
Definition: Services correspond to ISIC divisions 50-99. 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 and import duties. 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. Data are in constant local currency.
Source: World Bank national accounts data, and OECD National Accounts data files.
| Year | Value |
|---|---|
| 1995 | 677,742,000,000 |
| 1996 | 719,908,000,000 |
| 1997 | 758,606,000,000 |
| 1998 | 845,194,000,000 |
| 1999 | 902,747,000,000 |
| 2000 | 952,953,000,000 |
| 2001 | 991,854,000,000 |
| 2002 | 996,671,000,000 |
| 2003 | 1,040,480,000,000 |
| 2004 | 1,096,360,000,000 |
| 2005 | 1,149,000,000,000 |
| 2006 | 1,192,180,000,000 |
| 2007 | 1,324,560,000,000 |
| 2008 | 1,373,900,000,000 |
| 2009 | 1,318,320,000,000 |
| 2010 | 1,285,640,000,000 |
| 2011 | 1,311,400,000,000 |
| 2012 | 1,337,930,000,000 |
| 2013 | 1,384,220,000,000 |
| 2014 | 1,425,060,000,000 |
| 2015 | 1,487,400,000,000 |
| 2016 | 1,593,610,000,000 |
| 2017 | 1,676,380,000,000 |
| 2018 | 1,760,210,000,000 |
| 2019 | 1,797,290,000,000 |
| 2020 | 1,675,240,000,000 |
Base Period: varies by country
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
