Brunei: Share of services
* indicates monthly or quarterly data series
Brunei |
Value added in the services sector as percent of GDP |
---|---|
Latest value | 38.75 |
Year | 2023 |
Measure | percent |
Data availability | 1974 - 2023 |
Average | 32.08 |
Min - Max | 8.15 - 47.06 |
Source | The World Bank |
The latest value from 2023 is 38.75 percent, an increase from 32.52 percent in 2022. In comparison, the world average is 54.55 percent, based on data from 152 countries. Historically, the average for Brunei from 1974 to 2023 is 32.08 percent. The minimum value, 8.15 percent, was reached in 1974 while the maximum of 47.06 percent was recorded in 1998.
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The importance of services in the economy of Brunei 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.
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Related indicators | Latest | Reference | Measure |
---|---|---|---|
Share of industry | 61.80 | 2023 | percent |
Share of manufacturing | 18.62 | 2023 | percent |
Share of services | 38.75 | 2023 | percent |
Industry value added | 9.35 | 2023 | billion U.S. dollars |
Manufacturing value added | 2.82 | 2023 | billion U.S. dollars |
Services value added | 5.86 | 2023 | billion U.S. dollars |
Savings, percent of GDP | 45.96 | 2023 | percent |
Savings, in dollars | 8.40 | 2022 | billion U.S. dollars |