Services, value added (% of GDP) in Cuba
Cuba: Services, value added (% of GDP) was 73.4% in 2024. ▲ Rising
Services, value added in Cuba, 1996–2024
Source: Country official statistics, National Statistical Offices (NSOs). Measured in % of GDP.
Analysis
In 2024, services, value added in Cuba stood at 73.4%.
The figure is up 0.3% on the previous year and up 0.7% over ten years.
Over the whole period, services, value added in Cuba peaked at 75.0% in 2021 and was at its lowest, 63.9%, in 1997.
That places Cuba 21st out of 206 countries with data for 2024, putting it in the top 10%.
The long-run direction has been consistently rising across the 29 years of available data.
Services, value added (% of GDP) in Cuba, year by year
| Year | % of GDP | Change |
|---|---|---|
| 1996 | 64.7% | — |
| 1997 | 63.9% | -1.2% |
| 1998 | 66.6% | +4.1% |
| 1999 | 67.1% | +0.8% |
| 2000 | 66.6% | -0.8% |
| 2001 | 67.5% | +1.4% |
| 2002 | 69.4% | +2.8% |
| 2003 | 70.7% | +1.9% |
| 2004 | 71.5% | +1.0% |
| 2005 | 73.0% | +2.1% |
| 2006 | 73.3% | +0.4% |
| 2007 | 72.4% | -1.1% |
| 2008 | 72.3% | -0.2% |
| 2009 | 72.5% | +0.2% |
| 2010 | 72.5% | +0.0% |
| 2011 | 73.0% | +0.7% |
| 2012 | 71.7% | -1.8% |
| 2013 | 71.8% | +0.2% |
| 2014 | 72.9% | +1.6% |
| 2015 | 72.8% | -0.2% |
| 2016 | 72.0% | -1.0% |
| 2017 | 70.8% | -1.7% |
| 2018 | 70.2% | -0.9% |
| 2019 | 70.4% | +0.3% |
| 2020 | 73.5% | +4.4% |
| 2021 | 75.0% | +2.0% |
| 2022 | 74.6% | -0.5% |
| 2023 | 73.2% | -1.9% |
| 2024 | 73.4% | +0.3% |
Cuba compared with similar countries
- Cuba's 73.4% is above the median for upper middle income countries, which is 58.1%, 1.3× the median. (58 countries reporting)
- Cuba's 73.4% is above the median for Latin America & Caribbean, which is 59.8%, 1.2× the median. (39 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | 65.6% | 63.9% | 67.1% | 4 |
| 2000s | 70.9% | 66.6% | 73.3% | 10 |
| 2010s | 71.8% | 70.2% | 73.0% | 10 |
| 2020s | 73.9% | 73.2% | 75.0% | 5 |
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 73.4% in 2024, according to Country official statistics, National Statistical Offices (NSOs).
- What is the highest services, value added recorded in Cuba?
- The highest recorded value was 75.0% in 2021.
- What is the lowest services, value added recorded in Cuba?
- The lowest recorded value was 63.9% in 1997.
- How does Cuba rank for services, value added?
- Cuba ranks 21st out of 206 countries with data for 2024.
- Is services, value added rising or falling in Cuba?
- Over the last ten years it is up 0.7%. 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 (% 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.