Services, value added in Barbados
Barbados: Services, value added was 3.4% in 2024. ◆ Volatile
Services, value added in Barbados, 1976–2024
Source: Country official statistics, National Statistical Offices (NSOs). Measured in annual % growth.
Analysis
In 2024, services, value added in Barbados stood at 3.4%.
That represents a change of up 54.6% on the previous year and up 150.4% over ten years.
Over the whole period, services, value added in Barbados peaked at 94.7% in 2006 and was at its lowest, -19.5%, in 2020.
Barbados ranks 97th of 195 countries on this measure, in the middle of the range.
The series is highly variable year to year, so single readings are best treated with caution.
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 5.3% | 1.4% | 9.0% | 4 |
| 1980s | 2.5% | -5.4% | 6.4% | 10 |
| 1990s | 0.9% | -4.9% | 6.9% | 10 |
| 2000s | 9.5% | -6.4% | 94.7% | 10 |
| 2010s | -0.9% | -8.8% | 1.8% | 10 |
| 2020s | 3.1% | -19.5% | 16.6% | 5 |
Countries ranked near Barbados
More economy & growth data for Barbados
- Inflation of consumer prices 0.8% (2025)
- GDP per capita 23,014 constant 2015 US$ (2025)
- Share of manufacturing in gross domestic product (GDP) 4.9% (2024)
- Gross domestic product (GDP) 6.50 billion constant 2015 US$ (2025)
- GDP per capita in international and market dollars 23,014 constant 2015 US$ (2025)
- DEC alternative conversion factor 2 LCU per US$ (2025)
- Net secondary income (Net current transfers from abroad) 181.00 million current LCU (2025)
- Net secondary income (Net current transfers from abroad) 90.50 million current US$ (2025)
- Taxes less subsidies on products 1.67 billion current LCU (2025)
- Taxes less subsidies on products 833.40 million current US$ (2025)
Frequently asked questions
- What is services, value added in Barbados?
- Services, value added in Barbados was 3.4% in 2024, according to Country official statistics, National Statistical Offices (NSOs).
- What is the highest services, value added recorded in Barbados?
- The highest recorded value was 94.7% in 2006.
- What is the lowest services, value added recorded in Barbados?
- The lowest recorded value was -19.5% in 2020.
- How does Barbados rank for services, value added?
- Barbados ranks 97th out of 195 countries with data for 2024.
- Is services, value added rising or falling in Barbados?
- Over the last ten years it is up 150.4%. The long-run trend across the full record is volatile.
- Where does this Barbados data come from?
- The figures come from Country official statistics, National Statistical Offices (NSOs), published as part of Services, value added (annual % growth). Statizoid updates them automatically from the source API.
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About this data
Services industries correspond to ISIC (Rev. 4) divisions 45-99 and includes wholesale and retail trade, repair of motor vehicles, hotels and restaurants, transport, storage and communication, financial intermediation, real estate, renting and business activities, public administration and defence, compulsory social security, education, health and social work, other community, social and personal service activities, private households with employed persons, and extra-territorial organizations and bodies. Value added is the contribution to the economy by a producer or an industry or an institutional sector, which is estimated by the total value of output produced and deducting the total value of intermediate consumption of goods and services used to produce that output. This indicator denotes the percentage change over each previous year of the constant price (base year 2015) series in United States dollars.