Services sector value added to GDP Latin America

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 2023. This contribution was approximately 1.2 trillion U.S. dollars in Brazil, whereas in Mexico the services sector accounted for roughly 815 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 2023, by country (in billion U.S. dollars)

Characteristic	Value in billion U.S. dollars
Brazil	1,234.82
Mexico	814.77
Argentina	341.95
Colombia	217.11
Chile	175.63
Peru	123.08
Ecuador	67.22
Cuba*	65.43
Costa Rica	57.78
Dominican Republic	56.87
Guatemala	50.31
Panama	49.95
Uruguay	38.01
Paraguay	22.13
Bolivia	19.15
Honduras	17.54
El Salvador	17.28
Trinidad and Tobago*	13.46
Bahamas	10.01
Jamaica	9.33
Haiti	7.81
Nicaragua	7.13
Barbados	3.72
Suriname*	2.67
Guyana	2.35
Belize	1.58
St. Lucia	1.4
Antigua and Barbuda	1.17
Grenada	0.72
St. Kitts and Nevis	0.68
St. Vincent and the Grenadines	0.62
Dominica	0.33

Loading statistic...

Download

Source

Show detailed source information?

Already a member?

Sources

Use Ask Statista Research Service

Release date

September 2024

More information

Region

LAC

Survey time period

2023 or latest available year

Special properties

Values in constant U.S. dollars based on 2015 prices

Supplementary notes

* Data is from 2022.
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.

The source does not provide a date of release, the date given is the one of last access.
Figures have been rounded.

Citation formats