The total services value added of Colombia in 2024 amounted to 243 561.91 million USD, which is 17.19% more than in 2023, when it was 207 834.80 million USD. It has been growing in this country for already 4 years in a row. Over the entire data period, since 1965, this indicator has increased in 91.00 times. The lowest added value in the service sector was recorded in 1966, when it was 2 539.48 million USD. The maximum value of Colombia was in 2024, when it reached 243 561.91 million USD.
Services industries correspond to ISIC (Rev. 4) divisions 45-99 and includes wholesale and retail trade, repair of motor vehicles, hotels and retaurants, transport, storage and communication, financial intermediation, real estate, renting and business activities, public administration and defence, compulsory social security, education, health and social work, other community, social and personal service activities, private households with employed persons, and extra-territorial organizations and bodies. Value added is the contribution to the economy by a producer or an industry or an institutional sector, which is estimated by the total value of output produced and deducting the total value of intermediate consumption of goods and services used to produce that output.
Services, value added | Colombia – yearly data, chart and table
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Primary data
Change
Per month
Per capita
Per person employed in services
Per 1000 km2 surface area
PPP
In constant 2015 dollars
In local currency (average annual exchange rate)
Per capita (local currency)
Percent of GDP
Table
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Overview
Additional infomation:
About indicator
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 and import duties. 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. Data are in current U.S. dollars.
