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LatAm: services as share of GDP 2010-2018, by region

Since 2010, the services industry in small Caribbean states has contributed with a relatively higher share of the value added to the gross domestic product (GDP) than the regional average. In 2017, the latest year with available data, 61.4 percent of the total value added to GDP in small Caribbean states was generated by the services industry. This share has decreased compared to 2016, when it stood at almost 64 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 from 2010 to 2018, by region

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Sources

Release date

October 2019

Region

LAC

Survey time period

2010 to 2018

Supplementary notes

* No data available for 2018 for small Caribbean states.

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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