Latin America: services value added to GDP 2018, by country

In Latin America and the Caribbean, Brazil had the largest services industry based on the added value it generated for the country's gross domestic product (GDP) in 2018. This contribution amounted to nearly 1.4 trillion U.S. dollars in Brazil, whereas in Mexico the services sector accounted for more than 835 billion U.S. dollars of value added to GDP.

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.

Value added by the services industry to the gross domestic product (GDP) in Latin America and the Caribbean in 2018, by country

Value in billion U.S. dollars
Brazil 1,367.79
Mexico 835.56
Argentina 244.37
Colombia 211.79
Chile 156.65
Peru 108.38
Cuba *55.08
Dominican Republic 46.54
Ecuador 46.18
Guatemala 32.81
Costa Rica 32.54
Uruguay 31.32
Panama *31.02
Paraguay 16.96
El Salvador 13.85
Honduras 13.26
Bolivia 13.05
Trinidad and Tobago 10.66
Jamaica 9.14
Bahamas*8.67
Nicaragua 6.05
Barbados**3.55
Suriname *1.79
Haiti 1.49
Guyana *1.28
St. Lucia 1.16
Belize *1.09
Antigua and Barbuda 1.02
Grenada 0.67
St. Kitts and Nevis 0.62
St. Vincent and the Grenadines 0.47
Dominica 0.26
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Sources

Release date

October 2019

Region

Central and South America, Mexico

Survey time period

2018 or latest available year

Special properties

Values in constant U.S. dollars based on 2010 prices

Supplementary notes

* Data is from 2017.
** Data is from 2016.
Data represents the value added in wholesale and retail trade (including hotels and restaurants), transport, and 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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