Services, value added in Caribbean Small States
Caribbean Small States: Services, value added was 2.5% in 2024. ◆ Volatile
Services, value added in Caribbean Small States, 1985–2024
Source: Country official statistics, National Statistical Offices (NSOs). Measured in annual % growth.
Analysis
Caribbean Small States recorded 2.5% for services, value added in 2024.
The figure is down 27.1% on the previous year and down 49.6% over ten years.
Over the whole period, services, value added in Caribbean Small States peaked at 11.0% in 2006 and was at its lowest, -13.8%, in 2020.
Caribbean Small States ranks 36th of 41 groups on this measure, in the bottom quarter.
The series is highly variable year to year, so single readings are best treated with caution.
Services, value added in Caribbean Small States, year by year
| Year | annual % growth | Change |
|---|---|---|
| 1985 | -0.1% | — |
| 1986 | 0.6% | -516.5% |
| 1987 | 0.7% | +18.1% |
| 1988 | -3.1% | -532.4% |
| 1989 | 2.0% | -165.1% |
| 1990 | 0.2% | -89.1% |
| 1991 | -3.8% | -1816.1% |
| 1992 | 1.1% | -129.6% |
| 1993 | 2.7% | +140.5% |
| 1994 | 1.4% | -48.2% |
| 1995 | -0.6% | -139.3% |
| 1996 | 4.3% | -871.0% |
| 1997 | -0.6% | -114.3% |
| 1998 | 4.6% | -853.6% |
| 1999 | 5.5% | +18.6% |
| 2000 | 4.5% | -18.0% |
| 2001 | 2.2% | -51.5% |
| 2002 | 3.3% | +51.4% |
| 2003 | 2.1% | -35.0% |
| 2004 | 7.0% | +228.1% |
| 2005 | 2.4% | -66.4% |
| 2006 | 11.0% | +367.8% |
| 2007 | 5.2% | -53.1% |
| 2008 | 1.9% | -63.1% |
| 2009 | -6.1% | -419.0% |
| 2010 | 2.9% | -148.2% |
| 2011 | 2.7% | -7.9% |
| 2012 | 5.9% | +116.8% |
| 2013 | 2.4% | -59.5% |
| 2014 | 4.9% | +104.6% |
| 2015 | -0.8% | -117.1% |
| 2016 | -2.2% | +161.9% |
| 2017 | -2.1% | -4.2% |
| 2018 | 2.0% | -194.2% |
| 2019 | 3.4% | +72.6% |
| 2020 | -13.8% | -506.8% |
| 2021 | 5.2% | -137.9% |
| 2022 | 9.0% | +71.8% |
| 2023 | 3.4% | -62.7% |
| 2024 | 2.5% | -27.1% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1980s | 0.0% | -3.1% | 2.0% | 5 |
| 1990s | 1.5% | -3.8% | 5.5% | 10 |
| 2000s | 3.3% | -6.1% | 11.0% | 10 |
| 2010s | 1.9% | -2.2% | 5.9% | 10 |
| 2020s | 1.2% | -13.8% | 9.0% | 5 |
Countries ranked near Caribbean Small States
More economy & growth data for Caribbean Small States
- Services, value added 52.2% (2024)
- Services, value added 47.22 billion current US$ (2024)
- Services, value added 41.90 billion constant 2015 US$ (2024)
- Foreign direct investment, net inflows 11.4% (2024)
- Foreign direct investment, net inflows 2.08 billion BoP, current US$ (2025)
- Gross value added at basic prices (GVA) 83.57 billion current US$ (2024)
- GDP 95.14 billion current US$ (2025)
- Gross value added at basic prices (GVA) 78.02 billion constant 2015 US$ (2024)
- Industry (including construction), value added 37.0% (2024)
- Inflation, GDP deflator 2.6% (2025)
Frequently asked questions
- What is services, value added in Caribbean Small States?
- Services, value added in Caribbean Small States was 2.5% in 2024, according to Country official statistics, National Statistical Offices (NSOs).
- What is the highest services, value added recorded in Caribbean Small States?
- The highest recorded value was 11.0% in 2006.
- What is the lowest services, value added recorded in Caribbean Small States?
- The lowest recorded value was -13.8% in 2020.
- How does Caribbean Small States rank for services, value added?
- Caribbean Small States ranks 36th out of 41 groups with data for 2024.
- Is services, value added rising or falling in Caribbean Small States?
- Over the last ten years it is down 49.6%. The long-run trend across the full record is volatile.
- Where does this Caribbean Small States 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.