Services, value added in Cuba
Cuba: Services, value added was 40.78 billion constant LCU in 2024. ▲ Rising
Services, value added in Cuba, 1996–2024
Source: Country official statistics, National Statistical Offices (NSOs). Measured in constant LCU.
Analysis
In 2024, services, value added in Cuba stood at 40.78 billion constant LCU.
Compared with earlier readings it is 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 43.01 billion constant LCU in 2019 and was at its lowest, 15.92 billion constant LCU, in 1996.
Cuba ranks 139th of 199 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 LCU | Change |
|---|---|---|
| 1996 | 15.92 billion constant LCU | — |
| 1997 | 16.21 billion constant LCU | +1.9% |
| 1998 | 16.95 billion constant LCU | +4.6% |
| 1999 | 17.88 billion constant LCU | +5.5% |
| 2000 | 18.76 billion constant LCU | +4.9% |
| 2001 | 19.80 billion constant LCU | +5.5% |
| 2002 | 20.23 billion constant LCU | +2.2% |
| 2003 | 21.28 billion constant LCU | +5.2% |
| 2004 | 22.74 billion constant LCU | +6.9% |
| 2005 | 25.97 billion constant LCU | +14.2% |
| 2006 | 29.23 billion constant LCU | +12.6% |
| 2007 | 31.59 billion constant LCU | +8.1% |
| 2008 | 32.94 billion constant LCU | +4.3% |
| 2009 | 33.80 billion constant LCU | +2.6% |
| 2010 | 35.13 billion constant LCU | +4.0% |
| 2011 | 36.15 billion constant LCU | +2.9% |
| 2012 | 37.16 billion constant LCU | +2.8% |
| 2013 | 38.03 billion constant LCU | +2.3% |
| 2014 | 38.91 billion constant LCU | +2.3% |
| 2015 | 40.16 billion constant LCU | +3.2% |
| 2016 | 40.66 billion constant LCU | +1.2% |
| 2017 | 41.52 billion constant LCU | +2.1% |
| 2018 | 42.40 billion constant LCU | +2.1% |
| 2019 | 43.01 billion constant LCU | +1.4% |
| 2020 | 38.19 billion constant LCU | -11.2% |
| 2021 | 39.76 billion constant LCU | +4.1% |
| 2022 | 41.45 billion constant LCU | +4.3% |
| 2023 | 40.80 billion constant LCU | -1.6% |
| 2024 | 40.78 billion constant LCU | -0.1% |
Cuba compared with similar countries
- Cuba's 40.78 billion constant LCU is below the median for upper middle income countries, which is 353.44 billion constant LCU, 12% of the median. (58 countries reporting)
- Cuba's 40.78 billion constant LCU is below the median for Latin America & Caribbean, which is 71.16 billion constant LCU, 57% of the median. (37 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | 16.74 billion constant LCU | 15.92 billion constant LCU | 17.88 billion constant LCU | 4 |
| 2000s | 25.63 billion constant LCU | 18.76 billion constant LCU | 33.80 billion constant LCU | 10 |
| 2010s | 39.31 billion constant LCU | 35.13 billion constant LCU | 43.01 billion constant LCU | 10 |
| 2020s | 40.20 billion constant LCU | 38.19 billion constant LCU | 41.45 billion constant LCU | 5 |
Countries ranked near Cuba
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 40.78 billion constant LCU 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 43.01 billion constant LCU in 2019.
- What is the lowest services, value added recorded in Cuba?
- The lowest recorded value was 15.92 billion constant LCU in 1996.
- How does Cuba rank for services, value added?
- Cuba ranks 139th out of 199 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 LCU). 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 is expressed in constant prices, meaning the series has been adjusted to account for price changes over time. The reference year for this adjustment varies by country. This series is expressed in local currency units.