Armenia: Share of services

The latest value from 2023 is 59.43 percent, an increase from 55.62 percent in 2022. In comparison, the world average is 55.55 percent, based on data from 168 countries. Historically, the average for Armenia from 2012 to 2023 is 51.31 percent. The minimum value, 45.7 percent, was reached in 2012 while the maximum of 59.43 percent was recorded in 2023. See the global rankings for that indicator or use the country comparator to compare trends over time.

The importance of services in the economy of Armenia and other countries is measured as the value added of services as percent of GDP. The services sector includes wholesale and retail trade, transport, financial services, education, health care, and real estate.

Definition: Services correspond to ISIC divisions 50-99 and 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, import duties, and any statistical discrepancies noted by national compilers as well as discrepancies arising from rescaling. 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 or 4.