Lesotho - Services, value added (% of GDP)

Services, value added (% of GDP) in Lesotho was 52.39 as of 2020. Its highest value over the past 60 years was 64.77 in 1983, while its lowest value was 4.79 in 1962.

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
1960 6.55
1961 5.49
1962 4.79
1963 7.31
1964 7.07
1965 10.91
1966 33.47
1967 36.96
1968 38.21
1969 38.65
1970 36.93
1971 53.84
1972 37.68
1973 26.31
1974 34.43
1975 38.31
1976 38.92
1977 33.25
1978 28.39
1979 28.86
1980 44.54
1981 44.10
1982 64.37
1983 64.77
1984 64.67
1985 64.68
1986 61.01
1987 60.73
1988 58.64
1989 58.16
1990 55.92
1991 55.85
1992 53.15
1993 53.46
1994 53.96
1995 53.20
1996 54.63
1997 56.42
1998 55.06
1999 53.31
2000 51.32
2001 48.27
2002 49.11
2003 49.24
2004 48.70
2005 48.88
2006 47.45
2007 48.78
2008 48.20
2009 53.89
2010 53.84
2011 51.89
2012 52.85
2013 54.88
2014 53.07
2015 51.53
2016 53.34
2017 54.50
2018 51.65
2019 51.99
2020 52.39

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