Indicator: Services, value added (annual % growth) - Ranking 2024

Description	Services, value added (annual % growth) measures the annual percentage change in the real value added generated by the services sector. According to the World Bank, services industries correspond to ISIC (Rev. 4) divisions 45–99 and include a broad range of activities, such as wholesale and retail trade, hotels and restaurants, transport and storage, information and communication, financial intermediation, real estate and business activities, public administration, education, health and social work, and other community, social and personal services. Value added represents the contribution of producers or industries to the economy and is calculated as the total value of output minus the value of intermediate goods and services used in production. The indicator expresses the annual percentage change in services value added at constant 2015 prices, measured in US dollars, thereby focusing on changes in the real volume of economic activity rather than price changes.
A cosa serve	The indicator is used to monitor the annual performance of the services sector and its contribution to overall economic dynamics. It can help identify periods of expansion or contraction in services activity and facilitate comparisons of services-sector growth across countries and over time. It is also useful for analysing structural transformation, particularly the increasing importance of services relative to agriculture and manufacturing, and for studying the relationship between services-sector performance and broader economic growth. Because it measures annual growth rather than the absolute size of the sector, it should be considered alongside indicators such as services value added as a percentage of GDP or total services value added.
Unit of measure	%
Aggregation Operator	Average

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