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Definition of Value in Index of Services
Answer
- WriterJanet McCullough
- Date2020-09-08
- Views8032
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Can you tell me what the "Value" index represents in the Index of Services by Industry Section table? I had assumed that "value" was equivalent to "Sales Revenue," but the percentage change in the value index from 2017 to 2018 does not at all match the percentage change in Sales Revenue shown in the Summary by Industry table. For example: Accommodation and food service activities show a 7.4% increase in sales revenue from 2017 to 2018, according to the Summary by Industry, but the Index of Services by Industry Section table shows that the value index for this sector only increased by 1.0% (from 105.0 to 106.0). Food and beverage service activities show an even greater disparity between the two tables. Thank you very much for your assistance.
Answer
Statistics Korea/2020-09-14
Dear Janet McCullough, Thank you for visiting the KOSIS website. In the Monthly Service Industry Survey, the value index is obtained by dividing monthly sales by the average monthly sales of the base year (2015=100.0) and the annual value index represents the average of all monthly indices. Therefore, the concept of the value index is different from that of sales revenue in the Service Industry Survey. In addition, the Monthly Service Industry Survey is different from the Service Industry Survey in terms of the survey cycle and survey purposes. ※ Comparison - The Monthly Service Industry Survey is carried out on a monthly basis to see the short-term output of service industry. In the meantime, the Service Industry Survey is carried out on a yearly basis to see structural changes of service industry. Thank you.