Services, value added (current US$) in Cuba
Cuba: Services, value added (current US$) 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$, in 1996.
That places Cuba 63rd out of 206 countries with data for 2020, putting it in the middle of the range.
The long-run direction has been consistently rising across the 25 years of available data.
Services, value added (current US$) in Cuba, year by year
| Year | current US$ | Change |
|---|---|---|
| 1996 | 16.18 billion current US$ | — |
| 1997 | 16.21 billion current US$ | +0.2% |
| 1998 | 17.13 billion current US$ | +5.7% |
| 1999 | 19.04 billion current US$ | +11.1% |
| 2000 | 20.35 billion current US$ | +6.9% |
| 2001 | 21.38 billion current US$ | +5.1% |
| 2002 | 23.31 billion current US$ | +9.0% |
| 2003 | 25.39 billion current US$ | +8.9% |
| 2004 | 27.30 billion current US$ | +7.5% |
| 2005 | 31.11 billion current US$ | +14.0% |
| 2006 | 35.78 billion current US$ | +15.0% |
| 2007 | 39.31 billion current US$ | +9.8% |
| 2008 | 40.72 billion current US$ | +3.6% |
| 2009 | 41.65 billion current US$ | +2.3% |
| 2010 | 43.16 billion current US$ | +3.6% |
| 2011 | 50.37 billion current US$ | +16.7% |
| 2012 | 52.41 billion current US$ | +4.1% |
| 2013 | 55.37 billion current US$ | +5.6% |
| 2014 | 58.79 billion current US$ | +6.2% |
| 2015 | 63.40 billion current US$ | +7.8% |
| 2016 | 65.83 billion current US$ | +3.8% |
| 2017 | 68.59 billion current US$ | +4.2% |
| 2018 | 70.25 billion current US$ | +2.4% |
| 2019 | 72.82 billion current US$ | +3.7% |
| 2020 | 78.91 billion current US$ | +8.4% |
Cuba compared with similar countries
- Cuba's 78.91 billion current US$ is above the median for upper middle income countries, which is 24.02 billion current US$, 3.3× the median. (58 countries reporting)
- Cuba's 78.91 billion current US$ is above the median for Latin America & Caribbean, which is 15.17 billion current US$, 5.2× the median. (39 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | 17.14 billion current US$ | 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
- SDRs holdings, US dollar, per unit of GDP 0 units per US$ of GDP (2016)
- SDRs holdings, US dollar, per capita 0 units per person (2016)
- SDRs holdings, SDR, per unit of GDP 0 units per US$ of GDP (2016)
- SDRs holdings, SDR, per capita 0 units per person (2016)
- IMF holdings of currency, US dollar, annual growth rate -100 % change on previous year (1969)
- IMF holdings of currency, US dollar, per unit of GDP 0 units per US$ of GDP (2016)
- IMF holdings of currency, US dollar, per capita 0 units per person (2016)
- IMF holdings of currency, SDR, annual growth rate -100 % change on previous year (1969)
- IMF holdings of currency, SDR, per unit of GDP 0 units per US$ of GDP (2016)
- IMF holdings of currency, SDR, per capita 0 units per person (2016)
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 206 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.