In 2019, 60.2 percent of the total value added to GDP in Latin America and the Caribbean was generated by the services industry. This share has decreased for the third consecutive year, having accounted for 60.7 percent in 2016. Since 2017, the services industry in small Caribbean states has contributed with a relatively lower share of the value added to the gross domestic product (GDP) than the regional average, falling to 58.4 percent in 2019.
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 2019, by region
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.
The source does not provide the date of release, the date given is the one of last access.
Figures have been rounded.
Profit from the additional features of your individual account
Currently, you are using a shared account. To use individual functions (e.g., mark statistics as favourites, set
statistic alerts) please log in with your personal account.
If you are an admin, please authenticate by logging in again.
Statista Accounts:
Access All Statistics. Starting from $468 / Year
Learn more about how Statista can support your business.
World Bank. (March 19, 2021). Share of value added by the services industry to gross domestic product (GDP) in Latin America and the Caribbean from 2010 to 2019, by region [Graph]. In Statista. Retrieved May 16, 2022, from https://www.statista.com/statistics/1070873/latin-america-caribbean-services-sector-share-gdp-region/
World Bank. "Share of value added by the services industry to gross domestic product (GDP) in Latin America and the Caribbean from 2010 to 2019, by region." Chart. March 19, 2021. Statista. Accessed May 16, 2022. https://www.statista.com/statistics/1070873/latin-america-caribbean-services-sector-share-gdp-region/
World Bank. (2021). Share of value added by the services industry to gross domestic product (GDP) in Latin America and the Caribbean from 2010 to 2019, by region. Statista. Statista Inc.. Accessed: May 16, 2022. https://www.statista.com/statistics/1070873/latin-america-caribbean-services-sector-share-gdp-region/
World Bank. "Share of Value Added by The Services Industry to Gross Domestic Product (Gdp) in Latin America and The Caribbean from 2010 to 2019, by Region." Statista, Statista Inc., 19 Mar 2021, https://www.statista.com/statistics/1070873/latin-america-caribbean-services-sector-share-gdp-region/
World Bank, Share of value added by the services industry to gross domestic product (GDP) in Latin America and the Caribbean from 2010 to 2019, by region Statista, https://www.statista.com/statistics/1070873/latin-america-caribbean-services-sector-share-gdp-region/ (last visited May 16, 2022)
