Services, value added (% of GDP) in Barbados
Barbados: Services, value added (% of GDP) was 75.8% in 2024. ▲ Rising
Services, value added in Barbados, 1975–2024
Source: Country official statistics, National Statistical Offices (NSOs). Measured in % of GDP.
Analysis
Barbados recorded 75.8% for services, value added in 2024. That is the highest value across all 50 years on record.
Compared with earlier readings it is up 0.5% on the previous year and up 0.1% over ten years.
Over the whole period, services, value added in Barbados peaked at 75.8% in 2024 and was at its lowest, 42.5%, in 1980.
That places Barbados 18th out of 206 countries with data for 2024, putting it in the top 10%.
The long-run direction has been consistently rising across the 50 years of available data.
Services, value added (% of GDP) in Barbados, year by year
| Year | % of GDP | Change |
|---|---|---|
| 1975 | 46.6% | — |
| 1976 | 51.2% | +9.9% |
| 1977 | 51.0% | -0.4% |
| 1978 | 51.0% | -0.1% |
| 1979 | 51.9% | +1.7% |
| 1980 | 42.5% | -18.1% |
| 1981 | 44.1% | +3.7% |
| 1982 | 43.7% | -0.8% |
| 1983 | 42.8% | -2.1% |
| 1984 | 43.2% | +1.0% |
| 1985 | 45.7% | +5.6% |
| 1986 | 44.7% | -2.2% |
| 1987 | 45.1% | +1.1% |
| 1988 | 44.5% | -1.3% |
| 1989 | 44.5% | -0.1% |
| 1990 | 71.0% | +59.6% |
| 1991 | 70.5% | -0.7% |
| 1992 | 71.5% | +1.4% |
| 1993 | 70.6% | -1.3% |
| 1994 | 71.9% | +1.9% |
| 1995 | 72.2% | +0.3% |
| 1996 | 72.8% | +0.9% |
| 1997 | 72.0% | -1.2% |
| 1998 | 70.4% | -2.1% |
| 1999 | 70.6% | +0.2% |
| 2000 | 71.3% | +1.0% |
| 2001 | 71.5% | +0.3% |
| 2002 | 73.7% | +3.1% |
| 2003 | 71.7% | -2.6% |
| 2004 | 72.9% | +1.6% |
| 2005 | 71.9% | -1.3% |
| 2006 | 72.5% | +0.8% |
| 2007 | 72.0% | -0.7% |
| 2008 | 72.5% | +0.6% |
| 2009 | 73.8% | +1.9% |
| 2010 | 75.3% | +2.0% |
| 2011 | 75.5% | +0.2% |
| 2012 | 73.9% | -2.0% |
| 2013 | 75.5% | +2.1% |
| 2014 | 75.7% | +0.3% |
| 2015 | 74.7% | -1.3% |
| 2016 | 75.0% | +0.4% |
| 2017 | 74.2% | -1.1% |
| 2018 | 74.1% | -0.1% |
| 2019 | 74.4% | +0.4% |
| 2020 | 73.6% | -1.2% |
| 2021 | 74.9% | +1.8% |
| 2022 | 75.7% | +1.1% |
| 2023 | 75.5% | -0.3% |
| 2024 | 75.8% | +0.5% |
Barbados compared with similar countries
- Barbados's 75.8% is above the median for high income countries, which is 66.2%, 1.1× the median. (77 countries reporting)
- Barbados's 75.8% is above the median for Latin America & Caribbean, which is 59.8%, 1.3× the median. (39 countries reporting)
Biggest year-on-year movements
Years where Services, value added (% of GDP) in Barbados changed far more than this series normally does. A large move can be a real event or a change in how the figure was measured — the source note below says who published it.
| Year | Change | From | To |
|---|---|---|---|
| 1990 | +59.6% | 44.5% | 71.0% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 50.3% | 46.6% | 51.9% | 5 |
| 1980s | 44.1% | 42.5% | 45.7% | 10 |
| 1990s | 71.4% | 70.4% | 72.8% | 10 |
| 2000s | 72.4% | 71.3% | 73.8% | 10 |
| 2010s | 74.9% | 73.9% | 75.7% | 10 |
| 2020s | 75.1% | 73.6% | 75.8% | 5 |
Countries ranked near Barbados
- 15 Aruba 76.3% compare
- 16 United States 76.3% compare
- 17 French Polynesia 75.9% compare
- 19 Djibouti 75.7% compare
- 20 Saint Lucia 73.8% compare
- 21 Cuba 73.4% compare
More economy & growth data for Barbados
- Africa's Development Dynamics (AfDD) Table 04 - Annual real GDP 1.99 Percent per annum (2029)
- Africa's Development Dynamics (AfDD) Table 02 - Annual real GDP 2 Percent per annum (2029)
- SDRs holdings, US dollar, annual growth rate -64.37 % change on previous year (2025)
- SDRs holdings, US dollar, per unit of GDP 0.002 units per US$ of GDP (2025)
- SDRs holdings, US dollar, per capita 55.55 units per person (2025)
- SDRs holdings, SDR, annual growth rate -66.07 % change on previous year (2025)
- SDRs holdings, SDR, per unit of GDP 0.0014 units per US$ of GDP (2025)
- SDRs holdings, SDR, per capita 40.56 units per person (2025)
- IMF holdings of currency, US dollar, annual growth rate -18.55 % change on previous year (2025)
- IMF holdings of currency, US dollar, per unit of GDP 0.0583 units per US$ of GDP (2025)
Frequently asked questions
- What is services, value added in Barbados?
- Services, value added in Barbados was 75.8% in 2024, according to Country official statistics, National Statistical Offices (NSOs).
- What is the highest services, value added recorded in Barbados?
- The highest recorded value was 75.8% in 2024.
- What is the lowest services, value added recorded in Barbados?
- The lowest recorded value was 42.5% in 1980.
- How does Barbados rank for services, value added?
- Barbados ranks 18th out of 206 countries with data for 2024.
- Is services, value added rising or falling in Barbados?
- Over the last ten years it is up 0.1%. The long-run trend across the full record is rising.
- Where does this Barbados data come from?
- The figures come from Country official statistics, National Statistical Offices (NSOs), published as part of Services, value added (% of GDP). 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 as a percentage of Gross Domestic Product (GDP) which is the total income earned through the production of goods and services in an economic territory during an accounting period.