Services, value added in Cuba
Cuba: Services, value added was 64.37 billion constant 2015 US$ in 2024. ▲ Rising
Services, value added in Cuba, 1996–2024
Source: Country official statistics, National Statistical Offices (NSOs). Measured in constant 2015 US$.
Analysis
Cuba recorded 64.37 billion constant 2015 US$ for services, value added in 2024.
That represents a change of down 0.1% on the previous year and up 4.8% over ten years.
Over the whole period, services, value added in Cuba peaked at 67.89 billion constant 2015 US$ in 2019 and was at its lowest, 25.12 billion constant 2015 US$, in 1996.
Cuba ranks 63rd of 196 countries on this measure, in the middle of the range.
The long-run direction has been consistently rising across the 29 years of available data.
Services, value added in Cuba, year by year
| Year | constant 2015 US$ | Change |
|---|---|---|
| 1996 | 25.12 billion constant 2015 US$ | — |
| 1997 | 25.59 billion constant 2015 US$ | +1.9% |
| 1998 | 26.76 billion constant 2015 US$ | +4.6% |
| 1999 | 28.22 billion constant 2015 US$ | +5.5% |
| 2000 | 29.62 billion constant 2015 US$ | +4.9% |
| 2001 | 31.25 billion constant 2015 US$ | +5.5% |
| 2002 | 31.93 billion constant 2015 US$ | +2.2% |
| 2003 | 33.58 billion constant 2015 US$ | +5.2% |
| 2004 | 35.90 billion constant 2015 US$ | +6.9% |
| 2005 | 40.99 billion constant 2015 US$ | +14.2% |
| 2006 | 46.14 billion constant 2015 US$ | +12.6% |
| 2007 | 49.87 billion constant 2015 US$ | +8.1% |
| 2008 | 52.00 billion constant 2015 US$ | +4.3% |
| 2009 | 53.35 billion constant 2015 US$ | +2.6% |
| 2010 | 55.45 billion constant 2015 US$ | +4.0% |
| 2011 | 57.06 billion constant 2015 US$ | +2.9% |
| 2012 | 58.66 billion constant 2015 US$ | +2.8% |
| 2013 | 60.03 billion constant 2015 US$ | +2.3% |
| 2014 | 61.43 billion constant 2015 US$ | +2.3% |
| 2015 | 63.40 billion constant 2015 US$ | +3.2% |
| 2016 | 64.18 billion constant 2015 US$ | +1.2% |
| 2017 | 65.54 billion constant 2015 US$ | +2.1% |
| 2018 | 66.93 billion constant 2015 US$ | +2.1% |
| 2019 | 67.89 billion constant 2015 US$ | +1.4% |
| 2020 | 60.28 billion constant 2015 US$ | -11.2% |
| 2021 | 62.76 billion constant 2015 US$ | +4.1% |
| 2022 | 65.44 billion constant 2015 US$ | +4.3% |
| 2023 | 64.40 billion constant 2015 US$ | -1.6% |
| 2024 | 64.37 billion constant 2015 US$ | -0.1% |
Cuba compared with similar countries
- Cuba's 64.37 billion constant 2015 US$ is above the median for upper middle income countries, which is 26.58 billion constant 2015 US$, 2.4× the median. (58 countries reporting)
- Cuba's 64.37 billion constant 2015 US$ is above the median for Latin America & Caribbean, which is 12.34 billion constant 2015 US$, 5.2× the median. (36 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | 26.42 billion constant 2015 US$ | 25.12 billion constant 2015 US$ | 28.22 billion constant 2015 US$ | 4 |
| 2000s | 40.46 billion constant 2015 US$ | 29.62 billion constant 2015 US$ | 53.35 billion constant 2015 US$ | 10 |
| 2010s | 62.06 billion constant 2015 US$ | 55.45 billion constant 2015 US$ | 67.89 billion constant 2015 US$ | 10 |
| 2020s | 63.45 billion constant 2015 US$ | 60.28 billion constant 2015 US$ | 65.44 billion constant 2015 US$ | 5 |
Countries ranked near Cuba
- 60 Slovakia 67.86 billion constant 2015 US$ compare
- 61 Kenya 67.76 billion constant 2015 US$ compare
- 62 Dominican Republic 65.77 billion constant 2015 US$ compare
- 64 Angola 60.49 billion constant 2015 US$ compare
- 65 Panama 57.56 billion constant 2015 US$ compare
- 66 Luxembourg 57.04 billion constant 2015 US$ compare
More economy & growth data for Cuba
- General government final consumption expenditure (current US$) 25.1 % change on previous year (2020)
- General government final consumption expenditure (current US$), per 0.3885 current US$ per US$ of GDP (2020)
- General government final consumption expenditure (current US$), per 3,731 current US$ per person (2020)
- General government final consumption expenditure (current LCU) 21.52 % change on previous year (2024)
- General government final consumption expenditure (current LCU), per 0.3885 current LCU per US$ of GDP (2020)
- General government final consumption expenditure (current LCU), per 24,524 current LCU per person (2024)
- General government final consumption expenditure (constant 2015 US$) -7.43 % change on previous year (2024)
- General government final consumption expenditure (constant 2015 US$) 0.2523 constant 2015 US$ per US$ of GDP (2020)
- General government final consumption expenditure (constant 2015 US$) 2,335 constant 2015 US$ per person (2024)
- Households and NPISHs Final consumption expenditure (current US$) -3.88 % change on previous year (2020)
Frequently asked questions
- What is services, value added in Cuba?
- Services, value added in Cuba was 64.37 billion constant 2015 US$ 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 67.89 billion constant 2015 US$ in 2019.
- What is the lowest services, value added recorded in Cuba?
- The lowest recorded value was 25.12 billion constant 2015 US$ in 1996.
- How does Cuba rank for services, value added?
- Cuba ranks 63rd out of 196 countries with data for 2024.
- Is services, value added rising or falling in Cuba?
- Over the last ten years it is up 4.8%. The long-run trend across the full record is rising.
- 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 (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.