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 98th of 198 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.
Services, value added in Barbados, year by year
| Year | annual % growth | Change |
|---|---|---|
| 1976 | 1.4% | — |
| 1977 | 6.1% | +346.7% |
| 1978 | 4.5% | -26.3% |
| 1979 | 9.0% | +99.5% |
| 1980 | 4.5% | -50.2% |
| 1981 | 0.1% | -97.2% |
| 1982 | -5.4% | -4430.7% |
| 1983 | -0.8% | -84.5% |
| 1984 | 3.6% | -538.2% |
| 1985 | 3.0% | -17.8% |
| 1986 | 5.2% | +75.9% |
| 1987 | 6.4% | +21.9% |
| 1988 | 3.4% | -46.9% |
| 1989 | 4.6% | +35.2% |
| 1990 | -3.7% | -179.8% |
| 1991 | -3.9% | +7.2% |
| 1992 | -4.9% | +25.4% |
| 1993 | 1.8% | -137.1% |
| 1994 | 4.9% | +166.5% |
| 1995 | 1.3% | -72.8% |
| 1996 | 2.6% | +99.0% |
| 1997 | 4.6% | +72.8% |
| 1998 | 6.9% | +51.6% |
| 1999 | -0.7% | -110.7% |
| 2000 | 5.8% | -888.1% |
| 2001 | -2.2% | -138.2% |
| 2002 | 0.4% | -120.2% |
| 2003 | 3.0% | +558.5% |
| 2004 | 1.6% | -47.3% |
| 2005 | -6.4% | -510.9% |
| 2006 | 94.7% | -1577.8% |
| 2007 | 3.1% | -96.8% |
| 2008 | 0.0% | -99.2% |
| 2009 | -5.1% | -19703.5% |
| 2010 | -8.8% | +73.6% |
| 2011 | 0.3% | -103.9% |
| 2012 | -3.4% | -1083.1% |
| 2013 | 0.6% | -117.3% |
| 2014 | 1.4% | +133.9% |
| 2015 | -1.6% | -212.9% |
| 2016 | 1.8% | -217.3% |
| 2017 | 0.9% | -49.9% |
| 2018 | -0.0% | -101.5% |
| 2019 | -0.1% | +619.6% |
| 2020 | -19.5% | +19936.0% |
| 2021 | 12.5% | -164.2% |
| 2022 | 16.6% | +33.0% |
| 2023 | 2.2% | -86.6% |
| 2024 | 3.4% | +54.6% |
Barbados compared with similar countries
- Barbados's 3.4% is above the median for high income countries, which is 2.2%, 1.6× the median. (69 countries reporting)
- Barbados's 3.4% is above the median for Latin America & Caribbean, which is 3.2%, 1.1× the median. (37 countries reporting)
Biggest year-on-year movements
Years where Services, value added in Barbados changed far more than this series normally does. A large move can be a real event or a change in how the figure was measured — the source note below says who published it.
| Year | Change | From | To |
|---|---|---|---|
| 2020 | -19936.0% | -0.1% | -19.5% |
| 2009 | -19703.5% | 0.0% | -5.1% |
| 1982 | -4430.7% | 0.1% | -5.4% |
| 2006 | +1577.8% | -6.4% | 94.7% |
| 2012 | -1083.1% | 0.3% | -3.4% |
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
- Africa's Development Dynamics (AfDD) Table 04 - Annual real GDP 1.99 Percent per annum (2029)
- Africa's Development Dynamics (AfDD) Table 02 - Annual real GDP 2 Percent per annum (2029)
- Foreign direct investment, net outflows (BoP, current US$), gaps 18.57 million BoP, current US$ (2024)
- Foreign direct investment, net outflows (BoP, current US$), per unit 0.0024 BoP, current US$ per US$ of GDP (2024)
- Foreign direct investment, net outflows (BoP, current US$), per capita 65.74 BoP, current US$ per person (2024)
- Foreign direct investment, net inflows (BoP, current US$), gaps filled 303.06 million BoP, current US$ (2024)
- Foreign direct investment, net inflows (BoP, current US$), annual 34.75 % change on previous year (2024)
- Foreign direct investment, net inflows (BoP, current US$), per unit 0.0399 BoP, current US$ per US$ of GDP (2024)
- Foreign direct investment, net inflows (BoP, current US$), per capita 1,073 BoP, current US$ per person (2024)
- Total reserves (includes gold, current US$), annual growth rate 2.97 % change on previous year (2024)
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 98th out of 198 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.