Services, value added in Barbados
Barbados: Services, value added was 4.88 billion constant 2015 US$ in 2024. ▲ Rising
Services, value added in Barbados, 1975–2024
Source: Country official statistics, National Statistical Offices (NSOs). Measured in constant 2015 US$.
Analysis
The most recent figure for services, value added in Barbados is 4.88 billion constant 2015 US$, measured in 2024.
That represents a change of up 3.4% on the previous year and up 12.9% over ten years.
Over the whole period, services, value added in Barbados peaked at 5.06 billion constant 2015 US$ in 2008 and was at its lowest, 1.47 billion constant 2015 US$, in 1975.
Barbados ranks 152nd of 196 countries on this measure, in the bottom quarter.
The long-run direction has been consistently rising across the 50 years of available data.
Services, value added in Barbados, year by year
| Year | constant 2015 US$ | Change |
|---|---|---|
| 1975 | 1.47 billion constant 2015 US$ | — |
| 1976 | 1.49 billion constant 2015 US$ | +1.4% |
| 1977 | 1.58 billion constant 2015 US$ | +6.1% |
| 1978 | 1.65 billion constant 2015 US$ | +4.5% |
| 1979 | 1.80 billion constant 2015 US$ | +9.0% |
| 1980 | 1.88 billion constant 2015 US$ | +4.5% |
| 1981 | 1.88 billion constant 2015 US$ | +0.1% |
| 1982 | 1.78 billion constant 2015 US$ | -5.4% |
| 1983 | 1.77 billion constant 2015 US$ | -0.8% |
| 1984 | 1.83 billion constant 2015 US$ | +3.6% |
| 1985 | 1.89 billion constant 2015 US$ | +3.0% |
| 1986 | 1.99 billion constant 2015 US$ | +5.2% |
| 1987 | 2.11 billion constant 2015 US$ | +6.4% |
| 1988 | 2.19 billion constant 2015 US$ | +3.4% |
| 1989 | 2.29 billion constant 2015 US$ | +4.6% |
| 1990 | 2.20 billion constant 2015 US$ | -3.7% |
| 1991 | 2.12 billion constant 2015 US$ | -3.9% |
| 1992 | 2.01 billion constant 2015 US$ | -4.9% |
| 1993 | 2.05 billion constant 2015 US$ | +1.8% |
| 1994 | 2.15 billion constant 2015 US$ | +4.9% |
| 1995 | 2.18 billion constant 2015 US$ | +1.3% |
| 1996 | 2.23 billion constant 2015 US$ | +2.6% |
| 1997 | 2.34 billion constant 2015 US$ | +4.6% |
| 1998 | 2.50 billion constant 2015 US$ | +6.9% |
| 1999 | 2.48 billion constant 2015 US$ | -0.7% |
| 2000 | 2.62 billion constant 2015 US$ | +5.8% |
| 2001 | 2.56 billion constant 2015 US$ | -2.2% |
| 2002 | 2.58 billion constant 2015 US$ | +0.4% |
| 2003 | 2.65 billion constant 2015 US$ | +3.0% |
| 2004 | 2.69 billion constant 2015 US$ | +1.6% |
| 2005 | 2.52 billion constant 2015 US$ | -6.4% |
| 2006 | 4.91 billion constant 2015 US$ | +94.7% |
| 2007 | 5.06 billion constant 2015 US$ | +3.1% |
| 2008 | 5.06 billion constant 2015 US$ | +0.0% |
| 2009 | 4.80 billion constant 2015 US$ | -5.1% |
| 2010 | 4.38 billion constant 2015 US$ | -8.8% |
| 2011 | 4.39 billion constant 2015 US$ | +0.3% |
| 2012 | 4.24 billion constant 2015 US$ | -3.4% |
| 2013 | 4.27 billion constant 2015 US$ | +0.6% |
| 2014 | 4.33 billion constant 2015 US$ | +1.4% |
| 2015 | 4.26 billion constant 2015 US$ | -1.6% |
| 2016 | 4.34 billion constant 2015 US$ | +1.8% |
| 2017 | 4.38 billion constant 2015 US$ | +0.9% |
| 2018 | 4.38 billion constant 2015 US$ | -0.0% |
| 2019 | 4.37 billion constant 2015 US$ | -0.1% |
| 2020 | 3.52 billion constant 2015 US$ | -19.5% |
| 2021 | 3.96 billion constant 2015 US$ | +12.5% |
| 2022 | 4.62 billion constant 2015 US$ | +16.6% |
| 2023 | 4.72 billion constant 2015 US$ | +2.2% |
| 2024 | 4.88 billion constant 2015 US$ | +3.4% |
Barbados compared with similar countries
- Barbados's 4.88 billion constant 2015 US$ is below the median for high income countries, which is 67.86 billion constant 2015 US$, 7% of the median. (69 countries reporting)
- Barbados's 4.88 billion constant 2015 US$ is below the median for Latin America & Caribbean, which is 12.34 billion constant 2015 US$, 40% of the median. (36 countries reporting)
Biggest year-on-year movements
Years where Services, value added in Barbados changed far more than this series normally does. A large move can be a real event or a change in how the figure was measured — the source note below says who published it.
| Year | Change | From | To |
|---|---|---|---|
| 2006 | +94.7% | 2.52 billion constant 2015 US$ | 4.91 billion constant 2015 US$ |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 1.60 billion constant 2015 US$ | 1.47 billion constant 2015 US$ | 1.80 billion constant 2015 US$ | 5 |
| 1980s | 1.96 billion constant 2015 US$ | 1.77 billion constant 2015 US$ | 2.29 billion constant 2015 US$ | 10 |
| 1990s | 2.22 billion constant 2015 US$ | 2.01 billion constant 2015 US$ | 2.50 billion constant 2015 US$ | 10 |
| 2000s | 3.55 billion constant 2015 US$ | 2.52 billion constant 2015 US$ | 5.06 billion constant 2015 US$ | 10 |
| 2010s | 4.33 billion constant 2015 US$ | 4.24 billion constant 2015 US$ | 4.39 billion constant 2015 US$ | 10 |
| 2020s | 4.34 billion constant 2015 US$ | 3.52 billion constant 2015 US$ | 4.88 billion constant 2015 US$ | 5 |
Countries ranked near Barbados
- 149 Tajikistan 5.20 billion constant 2015 US$ compare
- 150 Maldives 5.17 billion constant 2015 US$ compare
- 151 Chad 4.93 billion constant 2015 US$ compare
- 153 Sierra Leone 4.74 billion constant 2015 US$ compare
- 154 Congo 4.70 billion constant 2015 US$ compare
- 155 Mauritania 4.65 billion constant 2015 US$ compare
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$), annual growth rate 2.97 % change on previous year (2024)
Frequently asked questions
- What is services, value added in Barbados?
- Services, value added in Barbados was 4.88 billion constant 2015 US$ 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 5.06 billion constant 2015 US$ in 2008.
- What is the lowest services, value added recorded in Barbados?
- The lowest recorded value was 1.47 billion constant 2015 US$ in 1975.
- How does Barbados rank for services, value added?
- Barbados ranks 152nd out of 196 countries with data for 2024.
- Is services, value added rising or falling in Barbados?
- Over the last ten years it is up 12.9%. The long-run trend across the full record is rising.
- 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 (constant 2015 US$). 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 defense, 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 is expressed in constant prices, meaning the series has been adjusted to account for price changes over time. The reference year for this adjustment is 2015. This indicator is expressed in United States dollars.