Services, value added in Cuba
Cuba: Services, value added was 78.91 billion current US$ in 2020. ▲ Rising
Services, value added in Cuba, 1996–2020
Source: Country official statistics, National Statistical Offices (NSOs). Measured in current US$.
Analysis
Cuba recorded 78.91 billion current US$ for services, value added in 2020. That is the highest value across all 25 years on record.
That represents a change of up 8.4% on the previous year and up 82.8% over ten years.
Over the whole period, services, value added in Cuba peaked at 78.91 billion current US$ in 2020 and was at its lowest, 16.18 billion current US$, in 1996.
That places Cuba 63rd out of 203 countries with data for 2020, putting it in the middle of the range.
The long-run direction has been consistently rising across the 25 years of available data.
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | 17.14 billion current US$ | 16.18 billion current US$ | 19.04 billion current US$ | 4 |
| 2000s | 30.63 billion current US$ | 20.35 billion current US$ | 41.65 billion current US$ | 10 |
| 2010s | 60.10 billion current US$ | 43.16 billion current US$ | 72.82 billion current US$ | 10 |
| 2020s | 78.91 billion current US$ | 78.91 billion current US$ | 78.91 billion current US$ | 1 |
Countries ranked near Cuba
More economy & growth data for Cuba
- External balance on goods and services as a percent of GDP -39.9% (2024)
- GDP per capita 7,381 constant 2015 US$ (2024)
- Share of manufacturing in gross domestic product (GDP) 10.7% (2024)
- Gross domestic product (GDP) 81.05 billion constant 2015 US$ (2024)
- GDP per capita in international and market dollars 7,381 constant 2015 US$ (2024)
- DEC alternative conversion factor 1 LCU per US$ (2020)
- Net secondary income (Net current transfers from abroad) 1.89 billion current LCU (2019)
- Net secondary income (Net current transfers from abroad) 1.89 billion current US$ (2019)
- Taxes less subsidies on products 16.49 billion current LCU (2024)
- Taxes less subsidies on products 762.00 million current US$ (2020)
Frequently asked questions
- What is services, value added in Cuba?
- Services, value added in Cuba was 78.91 billion current US$ in 2020, according to Country official statistics, National Statistical Offices (NSOs).
- What is the highest services, value added recorded in Cuba?
- The highest recorded value was 78.91 billion current US$ in 2020.
- What is the lowest services, value added recorded in Cuba?
- The lowest recorded value was 16.18 billion current US$ in 1996.
- How does Cuba rank for services, value added?
- Cuba ranks 63rd out of 203 countries with data for 2020.
- Is services, value added rising or falling in Cuba?
- Over the last ten years it is up 82.8%. 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 (current 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 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 current prices, meaning no adjustment has been made to account for price changes over time. This indicator is expressed in United States dollars.