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Q124 (CAPF/2018) Economy › Basic Concepts & National Income › Basic Concepts & National Income

Consider the following countries : 1. China 2. Spain 3. India 4. Russi;s Which one of the following is the correct ascending order of the above countries in terms of their share of services sector to Gross Value Added (GVA) during the period 2001-2015?

Result
Your answer: —  Â·  Correct: B
Explanation
To solve this, we compare the contribution of services to each country's Gross Value Added (GVA). During 2001-2015, China had the lowest share (around 40-50%) due to its manufacturing focus. India followed with a service-led economy (around 50-55%). Russia maintained a higher share (around 60%) due to its large tertiary sector. Spain, a developed economy with massive tourism and financial sectors, had the highest share (nearly 70-75%). Therefore, the ascending order (lowest to highest) is China (1), India (3), Russia (4), and Spain (2), which corresponds to the sequence 1, 3, 4, 2.
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