Indicator: Services, value added (constant 2015 US$) - Ranking 2024

Description	Services, value added (constant 2015 US$) measures the economic value generated by the services sector after deducting the value of intermediate goods and services used in the production process from the total value of services output. According to the World Bank, services industries correspond to ISIC (Rev. 4) divisions 45–99 and include wholesale and retail trade, repair of motor vehicles, hotels and restaurants, transport, storage and communication, financial intermediation, real estate, renting and business activities, public administration and defense, education, health and social work, and other community, social and personal services. The indicator is expressed in constant 2015 US dollars, meaning that the series has been adjusted for price changes over time, with 2015 as the reference year. This allows the indicator to reflect changes in the real volume of services value added rather than changes caused by inflation.
A cosa serve	The indicator is used to measure and compare the real contribution of services to economic activity across countries and over time. It supports analyses of economic structure, sectoral development and long-term changes in productive capacity. It can also be used to examine the absolute scale of the services sector and its evolution independently of inflation. When combined with indicators such as services value added as a percentage of GDP or annual percentage growth, it provides a broader picture of the importance, size and performance of the services sector within national economies.
Unit of measure	Millions of $
Aggregation Operator	Average

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