Services, value added in Europe & Central Asia (excluding high income)
Europe & Central Asia (excluding high income): Services, value added was 1.22 trillion constant 2015 US$ in 2024. ▲ Rising
Services, value added in Europe & Central Asia (excluding high income), 1990–2024
Source: Country official statistics, National Statistical Offices (NSOs). Measured in constant 2015 US$.
Analysis
In 2024, services, value added in Europe & Central Asia (excluding high income) stood at 1.22 trillion constant 2015 US$. That is the highest value across all 35 years on record.
The figure is up 4.1% on the previous year and up 60.0% over ten years.
Over the whole period, services, value added in Europe & Central Asia (excluding high income) peaked at 1.22 trillion constant 2015 US$ in 2024 and was at its lowest, 299.70 billion constant 2015 US$, in 1994.
That places Europe & Central Asia (excluding high income) 27th out of 43 groups with data for 2024, putting it in the middle of the range.
The long-run direction has been consistently rising across the 35 years of available data.
Services, value added in Europe & Central Asia (excluding high income), year by year
| Year | constant 2015 US$ | Change |
|---|---|---|
| 1990 | 310.09 billion constant 2015 US$ | — |
| 1991 | 300.46 billion constant 2015 US$ | -3.1% |
| 1992 | 311.89 billion constant 2015 US$ | +3.8% |
| 1993 | 316.91 billion constant 2015 US$ | +1.6% |
| 1994 | 299.70 billion constant 2015 US$ | -5.4% |
| 1995 | 306.86 billion constant 2015 US$ | +2.4% |
| 1996 | 316.90 billion constant 2015 US$ | +3.3% |
| 1997 | 334.12 billion constant 2015 US$ | +5.4% |
| 1998 | 346.09 billion constant 2015 US$ | +3.6% |
| 1999 | 343.01 billion constant 2015 US$ | -0.9% |
| 2000 | 364.49 billion constant 2015 US$ | +6.3% |
| 2001 | 371.55 billion constant 2015 US$ | +1.9% |
| 2002 | 394.31 billion constant 2015 US$ | +6.1% |
| 2003 | 420.07 billion constant 2015 US$ | +6.5% |
| 2004 | 457.94 billion constant 2015 US$ | +9.0% |
| 2005 | 492.53 billion constant 2015 US$ | +7.6% |
| 2006 | 525.19 billion constant 2015 US$ | +6.6% |
| 2007 | 565.97 billion constant 2015 US$ | +7.8% |
| 2008 | 585.47 billion constant 2015 US$ | +3.4% |
| 2009 | 571.45 billion constant 2015 US$ | -2.4% |
| 2010 | 602.65 billion constant 2015 US$ | +5.5% |
| 2011 | 648.63 billion constant 2015 US$ | +7.6% |
| 2012 | 686.68 billion constant 2015 US$ | +5.9% |
| 2013 | 728.82 billion constant 2015 US$ | +6.1% |
| 2014 | 761.94 billion constant 2015 US$ | +4.5% |
| 2015 | 790.38 billion constant 2015 US$ | +3.7% |
| 2016 | 812.13 billion constant 2015 US$ | +2.8% |
| 2017 | 864.63 billion constant 2015 US$ | +6.5% |
| 2018 | 909.95 billion constant 2015 US$ | +5.2% |
| 2019 | 946.91 billion constant 2015 US$ | +4.1% |
| 2020 | 937.17 billion constant 2015 US$ | -1.0% |
| 2021 | 1.04 trillion constant 2015 US$ | +11.1% |
| 2022 | 1.11 trillion constant 2015 US$ | +6.8% |
| 2023 | 1.17 trillion constant 2015 US$ | +5.3% |
| 2024 | 1.22 trillion constant 2015 US$ | +4.1% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | 318.60 billion constant 2015 US$ | 299.70 billion constant 2015 US$ | 346.09 billion constant 2015 US$ | 10 |
| 2000s | 474.90 billion constant 2015 US$ | 364.49 billion constant 2015 US$ | 585.47 billion constant 2015 US$ | 10 |
| 2010s | 775.27 billion constant 2015 US$ | 602.65 billion constant 2015 US$ | 946.91 billion constant 2015 US$ | 10 |
| 2020s | 1.10 trillion constant 2015 US$ | 937.17 billion constant 2015 US$ | 1.22 trillion constant 2015 US$ | 5 |
Countries ranked near Europe & Central Asia (excluding high income)
- 24 Nigeria 333.22 billion constant 2015 US$ compare
- 25 Hong Kong, China 314.28 billion constant 2015 US$ compare
- 26 Philippines 301.54 billion constant 2015 US$ compare
- 27 Ireland 301.39 billion constant 2015 US$ compare
- 28 Singapore 297.58 billion constant 2015 US$ compare
- 29 Israel 290.63 billion constant 2015 US$ compare
- 30 Thailand 289.72 billion constant 2015 US$ compare
More economy & growth data for Europe & Central Asia (excluding high income)
- GDP (constant 2015 US$), annual growth rate 4.2 % change on previous year (2025)
- Gross capital formation 29.8% (2025)
- Imports of goods and services 922.80 billion current US$ (2025)
- Imports of goods and services 727.63 billion constant 2015 US$ (2025)
- Imports of goods and services 4.7% (2025)
- Imports of goods and services 32.8% (2025)
- External balance on goods and services -3.8% (2025)
- Trade 61.2% (2025)
- GDP (constant 2015 US$), per capita 8,982 constant 2015 US$ per person (2025)
- Manufacturing, value added 457.79 billion constant 2015 US$ (2024)
All data for Europe & Central Asia (excluding high income) →
Frequently asked questions
- What is services, value added in Europe & Central Asia (excluding high income)?
- Services, value added in Europe & Central Asia (excluding high income) was 1.22 trillion constant 2015 US$ in 2024, according to Country official statistics, National Statistical Offices (NSOs).
- What is the highest services, value added recorded in Europe & Central Asia (excluding high income)?
- The highest recorded value was 1.22 trillion constant 2015 US$ in 2024.
- What is the lowest services, value added recorded in Europe & Central Asia (excluding high income)?
- The lowest recorded value was 299.70 billion constant 2015 US$ in 1994.
- How does Europe & Central Asia (excluding high income) rank for services, value added?
- Europe & Central Asia (excluding high income) ranks 27th out of 43 groups with data for 2024.
- Is services, value added rising or falling in Europe & Central Asia (excluding high income)?
- Over the last ten years it is up 60.0%. The long-run trend across the full record is rising.
- Where does this Europe & Central Asia (excluding high income) 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.
Download this data
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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.