Lesotho - Services, value added (constant 2010 US$)

The latest value for Services, value added (constant 2010 US$) in Lesotho was 1,055,869,000 as of 2020. Over the past 50 years, the value for this indicator has fluctuated between 1,224,252,000 in 2016 and 183,320,000 in 1970.

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, 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. Data are in constant 2010 U.S. dollars.

Source: World Bank national accounts data, and OECD National Accounts data files.

See also:

Year Value
1970 183,320,000
1971 183,320,000
1972 202,091,000
1973 191,339,700
1974 253,732,700
1975 235,851,900
1976 224,160,100
1977 269,469,700
1978 282,047,100
1979 346,122,900
1980 329,613,200
1981 354,232,000
1982 364,829,100
1983 365,065,900
1984 383,257,900
1985 406,392,400
1986 413,684,400
1987 431,614,600
1988 446,737,500
1989 470,723,600
1990 493,686,500
1991 520,392,200
1992 534,797,200
1993 546,806,800
1994 567,355,300
1995 600,899,800
1996 604,466,900
1997 643,723,100
1998 693,894,400
1999 698,398,600
2000 672,667,500
2001 697,993,900
2002 709,476,800
2003 742,850,800
2004 767,329,900
2005 785,598,100
2006 808,210,800
2007 849,124,500
2008 869,173,200
2009 872,465,000
2010 911,893,700
2011 960,730,100
2012 1,024,780,000
2013 1,097,609,000
2014 1,170,280,000
2015 1,216,035,000
2016 1,224,252,000
2017 1,196,780,000
2018 1,171,063,000
2019 1,178,394,000
2020 1,055,869,000

Development Relevance: An economy's growth is measured by the change in the volume of its output or in the real incomes of its residents. The 2008 United Nations System of National Accounts (2008 SNA) offers three plausible indicators for calculating growth: the volume of gross domestic product (GDP), real gross domestic income, and real gross national income. The volume of GDP is the sum of value added, measured at constant prices, by households, government, and industries operating in the economy. GDP accounts for all domestic production, regardless of whether the income accrues to domestic or foreign institutions.

Limitations and Exceptions: In the services industries, including most of government, value added in constant prices is often imputed from labor inputs, such as real wages or number of employees. In the absence of well defined measures of output, measuring the growth of services remains difficult.

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: Gap-filled total

Base Period: 2010

Periodicity: Annual

Classification

Topic: Economic Policy & Debt Indicators

Sub-Topic: National accounts