LatAm: services as share of GDP 2018, by country

In 2018, the Cayman Islands was the territory with the highest share of value added by the services industry to gross domestic product (GDP). Up to 87 percent of the total value added to these islands' GDP was generated by the services sector. In turn, Guyana and Paraguay 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 2018, by country or territory

Share of GDP
Cayman Islands *87%
St. Lucia 75.1%
Barbados **74.9%
Bahamas*74.9%
Turks and Caicos Islands 74.4%
Curaçao *71.7%
Cuba *70.8%
Sint Maarten**69.3%
Costa Rica 68.3%
Antigua and Barbuda 68%
Grenada 66.7%
Panama 65.1%
St. Kitts and Nevis 63.9%
Guatemala 62.9%
Belize *62.9%
Brazil 62.6%
St. Vincent and the Grenadines 62.3%
Uruguay 60.8%
El Salvador 60.3%
Mexico 60.2%
Jamaica 59.2%
Dominican Republic 58.9%
Chile 57.9%
Colombia 57.8%
Trinidad and Tobago 57.1%
Honduras 57.1%
Argentina 55.6%
Dominica 55.1%
Peru*54.1%
Ecuador 51.6%
Nicaragua 50.2%
Puerto Rico 49.6%
Bolivia 49.1%
Suriname *48.7%
Paraguay 48.4%
Guyana *42%
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Sources

Release date

October 2019

Region

Central and South America, Mexico

Survey time period

2018 or latest year available

Supplementary notes

* Data is from 2017.
** Data is from 2016.

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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Statistics on "Services sector in Latin America"

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