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

Description	Services, value added (current US$) measures the economic value generated by the services sector after deducting the value of intermediate goods and services used in the production process from the total value of services output. According to the World Bank, services industries correspond to ISIC (Rev. 4) divisions 45–99 and include wholesale and retail trade, repair of motor vehicles, hotels and restaurants, transport, storage and communication, financial intermediation, real estate, renting and business activities, public administration and defense, education, health and social work, as well as other community, social and personal services. Value added represents the contribution of producers or industries to the economy and is calculated as total output minus intermediate consumption. The indicator is expressed in US dollars at current prices, meaning that the monetary values are not adjusted for changes in prices over time.
A cosa serve	The indicator is used to measure and compare the absolute monetary value generated by the services sector across countries and over time. It is particularly useful for analysing the size and economic importance of services within national economies and for studying differences in the structure of economic activity. It can also support international comparisons of the nominal scale of service-sector production. For analysing real changes in services activity over time, it is more appropriate to use the corresponding constant-price indicator, “Services, value added (constant 2015 US$)”, which removes the effect of price changes.
Unit of measure	Millions of $
Aggregation Operator	Average

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