Services, value added in Caribbean Small States
Caribbean Small States: Services, value added was 52.2% in 2024. ▬ Flat
Services, value added in Caribbean Small States, 1977–2024
Source: Country official statistics, National Statistical Offices (NSOs). Measured in % of GDP.
Analysis
In 2024, services, value added in Caribbean Small States stood at 52.2%.
The figure is down 8.1% on the previous year and down 13.8% over ten years.
Over the whole period, services, value added in Caribbean Small States peaked at 66.7% in 2002 and was at its lowest, 50.7%, in 1980.
Caribbean Small States ranks 28th of 45 groups on this measure, in the middle of the range.
Services, value added in Caribbean Small States, year by year
| Year | % of GDP | Change |
|---|---|---|
| 1977 | 51.0% | — |
| 1978 | 53.2% | +4.4% |
| 1979 | 51.9% | -2.5% |
| 1980 | 50.7% | -2.3% |
| 1981 | 54.5% | +7.4% |
| 1982 | 62.4% | +14.5% |
| 1983 | 62.2% | -0.3% |
| 1984 | 59.8% | -3.8% |
| 1985 | 61.3% | +2.4% |
| 1986 | 63.1% | +2.9% |
| 1987 | 62.2% | -1.3% |
| 1988 | 61.4% | -1.3% |
| 1989 | 56.7% | -7.7% |
| 1990 | 58.3% | +2.9% |
| 1991 | 58.4% | +0.2% |
| 1992 | 59.8% | +2.4% |
| 1993 | 60.5% | +1.2% |
| 1994 | 57.8% | -4.6% |
| 1995 | 57.6% | -0.2% |
| 1996 | 57.8% | +0.2% |
| 1997 | 63.8% | +10.4% |
| 1998 | 64.9% | +1.9% |
| 1999 | 66.4% | +2.3% |
| 2000 | 63.9% | -3.9% |
| 2001 | 66.1% | +3.5% |
| 2002 | 66.7% | +0.9% |
| 2003 | 62.8% | -5.8% |
| 2004 | 61.1% | -2.8% |
| 2005 | 58.2% | -4.7% |
| 2006 | 55.3% | -5.0% |
| 2007 | 55.8% | +0.8% |
| 2008 | 51.5% | -7.6% |
| 2009 | 59.3% | +15.0% |
| 2010 | 58.4% | -1.5% |
| 2011 | 56.3% | -3.6% |
| 2012 | 58.2% | +3.3% |
| 2013 | 59.5% | +2.2% |
| 2014 | 60.6% | +1.8% |
| 2015 | 63.4% | +4.6% |
| 2016 | 64.7% | +2.1% |
| 2017 | 63.3% | -2.1% |
| 2018 | 62.8% | -0.8% |
| 2019 | 64.2% | +2.2% |
| 2020 | 63.9% | -0.5% |
| 2021 | 59.4% | -7.0% |
| 2022 | 54.5% | -8.3% |
| 2023 | 56.8% | +4.3% |
| 2024 | 52.2% | -8.1% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 52.1% | 51.0% | 53.2% | 3 |
| 1980s | 59.4% | 50.7% | 63.1% | 10 |
| 1990s | 60.5% | 57.6% | 66.4% | 10 |
| 2000s | 60.1% | 51.5% | 66.7% | 10 |
| 2010s | 61.1% | 56.3% | 64.7% | 10 |
| 2020s | 57.4% | 52.2% | 63.9% | 5 |
Countries ranked near Caribbean Small States
More economy & growth data for Caribbean Small States
- Manufacturing, value added 6.6% (2024)
- Services, value added 2.5% (2024)
- Services, value added 41.90 billion constant 2015 US$ (2024)
- Services, value added 47.22 billion current US$ (2024)
- GDP (constant 2015 US$), per capita 20,053 constant 2015 US$ per person (2025)
- Industry (including construction), value added 37.0% (2024)
- Industry (including construction), value added 30.8% (2024)
- Industry (including construction), value added 33.32 billion constant 2015 US$ (2024)
- Industry (including construction), value added 33.45 billion current US$ (2024)
- GDP (current US$), per capita 20,880 current US$ per person (2025)
Frequently asked questions
- What is services, value added in Caribbean Small States?
- Services, value added in Caribbean Small States was 52.2% in 2024, according to Country official statistics, National Statistical Offices (NSOs).
- What is the highest services, value added recorded in Caribbean Small States?
- The highest recorded value was 66.7% in 2002.
- What is the lowest services, value added recorded in Caribbean Small States?
- The lowest recorded value was 50.7% in 1980.
- How does Caribbean Small States rank for services, value added?
- Caribbean Small States ranks 28th out of 45 groups with data for 2024.
- Is services, value added rising or falling in Caribbean Small States?
- Over the last ten years it is down 13.8%. The long-run trend across the full record is flat.
- Where does this Caribbean Small States 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.