Services sector's share of GDP in LatAm by country

In 2021, the Cayman Islands was the territory with the highest share of value added by the services industry to gross domestic product (GDP). Approximately 87 percent of the total value added to these islands' GDP was generated by the services sector. In turn, Nicaragua, Puerto Rico, Paraguay, and Guyana had the lowest shares, with less than 50 percent.

The services industry comprises wholesale and retail trade (including hotels and restaurants), transportation, governmental, financial, professional, and personal services such as education, health care, and real estate.
The added value is calculated by subtracting the cost of intermediate goods and services from the sector's total GDP.

Share of value added by the services industry to gross domestic product (GDP) in Latin America and the Caribbean in 2021, by country or territory

Characteristic	Share of GDP
Cayman Islands*	86.9%
Bahamas	78.6%
Curaçao*	74.9%
Turks and Caicos Islands	74.4%
Cuba*	73.5%
St. Lucia	73.2%
Sint Maarten**	69.1%
St. Kitts and Nevis	67.5%
Costa Rica	66.9%
Grenada	66.6%
Panama	66%
Antigua and Barbuda	64.5%
Jamaica	64%
St. Vincent and the Grenadines	63.6%
Trinidad and Tobago*	62.6%
Uruguay	62%
Belize	61.6%
Guatemala	61.5%
El Salvador	59.9%
Brazil	59.4%
Mexico	58.4%
Colombia	57.9%
Honduras	57%
Dominica	56.1%
Chile	54.6%
Dominican Republic	54.6%
Peru*	54.4%
Ecuador	53.4%
Suriname*	53.1%
Argentina	52%
Haiti	51.6%
Bolivia	50.6%
Puerto Rico*	48.8%
Paraguay	47.6%
Nicaragua	46.3%
Guyana	31.4%

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Release date

March 2022

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Region

LAC

Survey time period

2021 or latest year available

Supplementary notes

* Data is from 2020.
** Data is from 2017.
No recent data available for Barbados and Venezuela.

Data represents the share of value added in wholesale and retail trade (including hotels and restaurants), transport, government, financial, professional, and personal services such as education, health care, and real estate services. Also included are imputed bank service charges, import duties, and any statistical discrepancies noted by national compilers as well as discrepancies arising from rescaling.
Value added is the net output of a sector after adding up all outputs and subtracting intermediate inputs. It is calculated without making deductions for depreciation of fabricated assets or depletion and degradation of natural resources.

Figures have been rounded.

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