Services, value added (annual % growth) in Cuba
Cuba: Services, value added (annual % growth) was -0.1% in 2024. ◆ Volatile
Services, value added in Cuba, 1997–2024
Source: Country official statistics, National Statistical Offices (NSOs). Measured in annual % growth.
Analysis
The most recent figure for services, value added in Cuba is -0.1%, measured in 2024.
Compared with earlier readings it is up 96.7% on the previous year and down 102.2% over ten years.
Over the whole period, services, value added in Cuba peaked at 14.2% in 2005 and was at its lowest, -11.2%, in 2020.
That places Cuba 181st out of 198 countries with data for 2024, putting it in the bottom quarter.
The series is highly variable year to year, so single readings are best treated with caution.
Services, value added (annual % growth) in Cuba, year by year
| Year | annual % growth | Change |
|---|---|---|
| 1997 | 1.9% | — |
| 1998 | 4.6% | +146.6% |
| 1999 | 5.5% | +19.9% |
| 2000 | 4.9% | -9.8% |
| 2001 | 5.5% | +11.6% |
| 2002 | 2.2% | -60.4% |
| 2003 | 5.2% | +137.3% |
| 2004 | 6.9% | +32.9% |
| 2005 | 14.2% | +106.1% |
| 2006 | 12.6% | -11.4% |
| 2007 | 8.1% | -35.8% |
| 2008 | 4.3% | -47.0% |
| 2009 | 2.6% | -39.5% |
| 2010 | 4.0% | +52.7% |
| 2011 | 2.9% | -26.5% |
| 2012 | 2.8% | -3.6% |
| 2013 | 2.3% | -16.8% |
| 2014 | 2.3% | -0.0% |
| 2015 | 3.2% | +37.6% |
| 2016 | 1.2% | -61.3% |
| 2017 | 2.1% | +69.7% |
| 2018 | 2.1% | +0.9% |
| 2019 | 1.4% | -32.2% |
| 2020 | -11.2% | -878.5% |
| 2021 | 4.1% | -136.7% |
| 2022 | 4.3% | +3.6% |
| 2023 | -1.6% | -137.0% |
| 2024 | -0.1% | -96.7% |
Cuba compared with similar countries
- Cuba's -0.1% is below the median for upper middle income countries, which is 3.3%. (58 countries reporting)
- Cuba's -0.1% is below the median for Latin America & Caribbean, which is 3.2%. (37 countries reporting)
Biggest year-on-year movements
Years where Services, value added (annual % growth) in Cuba 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 | -878.5% | 1.4% | -11.2% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | 4.0% | 1.9% | 5.5% | 3 |
| 2000s | 6.6% | 2.2% | 14.2% | 10 |
| 2010s | 2.4% | 1.2% | 4.0% | 10 |
| 2020s | -0.9% | -11.2% | 4.3% | 5 |
Countries ranked near Cuba
More economy & growth data for Cuba
- SDRs holdings, US dollar, per unit of GDP 0 units per US$ of GDP (2016)
- SDRs holdings, US dollar, per capita 0 units per person (2016)
- SDRs holdings, SDR, per unit of GDP 0 units per US$ of GDP (2016)
- SDRs holdings, SDR, per capita 0 units per person (2016)
- IMF holdings of currency, US dollar, annual growth rate -100 % change on previous year (1969)
- IMF holdings of currency, US dollar, per unit of GDP 0 units per US$ of GDP (2016)
- IMF holdings of currency, US dollar, per capita 0 units per person (2016)
- IMF holdings of currency, SDR, annual growth rate -100 % change on previous year (1969)
- IMF holdings of currency, SDR, per unit of GDP 0 units per US$ of GDP (2016)
- IMF holdings of currency, SDR, per capita 0 units per person (2016)
Frequently asked questions
- What is services, value added in Cuba?
- Services, value added in Cuba was -0.1% in 2024, according to Country official statistics, National Statistical Offices (NSOs).
- What is the highest services, value added recorded in Cuba?
- The highest recorded value was 14.2% in 2005.
- What is the lowest services, value added recorded in Cuba?
- The lowest recorded value was -11.2% in 2020.
- How does Cuba rank for services, value added?
- Cuba ranks 181st out of 198 countries with data for 2024.
- Is services, value added rising or falling in Cuba?
- Over the last ten years it is down 102.2%. The long-run trend across the full record is volatile.
- Where does this Cuba 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.