Howmuch.net presented an infograpfic on the importance of services in the world’s economy.
According to the website, the role of services in Uzbekistan accounts for $20.7 billion, which is around 4.5 times less than in neighboring Kazakhstan ($91.6 billion)
Top-3 countries in Asia by services output include China - $6.3 trillion (44.61% employment), Japan - $3.4 trillion (72.09% employment) and India - $1.3 trillion (31.45% employment).
These three countries lead all other Asian nations in terms of value added by services. However, while China and India are two of the top three in this sector in the region, they are two of the few countries with under 50% of their populations employed in the services sector.
Most of the world’s economic production comes from the agriculture, industry, and services sectors. The services sector, in particular, plays a much larger role in the world economy than one might think.
Services account for at least 50% of the GDP in over half of the world’s countries and about 65% of the world’s GDP.
To create the visualization, howmuch.net pulled data from The World Bank, which shows services as a percentage of GDP, value added by services in USD, and employment in services as a percentage of total employment. Countries on the map are color-coded based on the percentage of each country’s GDP represented by services. Darker shades indicate higher percentages, and lighter shades indicate lower percentages.
By analyzing this data, one can see how the services sector impacts the world economy as well as economies in countries around the world. Only countries with data from 2017 or earlier were considered for this analysis.
