Services, value added in Barbados
Barbados: Services, value added 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 17th out of 204 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 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% |
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
- 14 Aruba 76.3% compare
- 15 United States of America 76.3% compare
- 16 French Polynesia 75.9% compare
- 18 Djibouti 75.7% compare
- 19 Saint Lucia 73.8% compare
- 20 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)
- GNI (current LCU), annual growth rate 5.11 % change on previous year (2025)
- GNI (current LCU), per unit of GDP 1.92 current LCU per US$ of GDP (2025)
- GNI (current LCU), per capita 54,417 current LCU per person (2025)
- Net primary income (Net income from abroad) (current US$), annual -16.17 % change on previous year (2025)
- Net primary income (Net income from abroad) (current LCU), annual -16.17 % change on previous year (2025)
- Taxes less subsidies on products (current US$), annual growth rate 5.51 % change on previous year (2025)
- Taxes less subsidies on products (current US$), per unit of GDP 0.104 current US$ per US$ of GDP (2025)
- Taxes less subsidies on products (current US$), per capita 2,949 current US$ per person (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 17th out of 204 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.