The services industries value added of Lebanese Republic in 2023 amounted to 42.38% of GDP. In 2022, the value was 88.62%. According to the World Bank data, since 1994, this indicator has decreased in 1.46 times. The lowest services share of GDP was recorded in 2023, with a value of 42.38%. The services industries value added share in Lebanese Republic was in 2021, when it reached 94.15% of GDP.
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.
Share of services in GDP | Lebanese Republic – yearly data, chart and table
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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.
