Services, etc., value added (% of GDP) - Country Ranking - Central America & the Caribbean

Definition: Services correspond to ISIC divisions 50-99 and they include 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 industrial origin of value added is determined by the International Standard Industrial Classification (ISIC), revision 3. Note: For VAB countries, gross value added at factor cost is used as the denominator.

Source: World Bank national accounts data, and OECD National Accounts data files.

See also: Thematic map, Time series comparison

Find indicator:
Rank Country Value Year
1 Barbados 88.86 2015
2 The Bahamas 86.22 2016
3 St. Lucia 84.13 2016
4 Grenada 78.11 2016
5 Antigua and Barbuda 77.94 2016
6 St. Vincent and the Grenadines 74.10 2016
7 Cuba 73.53 2015
8 Costa Rica 72.96 2016
9 St. Kitts and Nevis 70.66 2016
10 Panama 69.16 2016
11 Jamaica 69.15 2016
12 Belize 68.27 2015
13 Dominican Republic 67.85 2016
14 Dominica 67.19 2016
15 Trinidad and Tobago 65.46 2016
16 El Salvador 62.45 2016
17 Guatemala 61.48 2016
18 Honduras 58.30 2016
19 Nicaragua 55.92 2016
20 Puerto Rico 3.70 2013

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Limitations and Exceptions: In the services industry the many self-employed workers and one-person businesses are sometimes difficult to locate, and they have little incentive to respond to surveys, let alone to report their full earnings. Compounding these problems are the many forms of economic activity that go unrecorded, including the work that women and children do for little or no pay.

Statistical Concept and Methodology: Gross domestic product (GDP) represents the sum of value added by all its producers. Value added is the value of the gross output of producers less the value of intermediate goods and services consumed in production, before accounting for consumption of fixed capital in production. The United Nations System of National Accounts calls for value added to be valued at either basic prices (excluding net taxes on products) or producer prices (including net taxes on products paid by producers but excluding sales or value added taxes). Both valuations exclude transport charges that are invoiced separately by producers. Total GDP is measured at purchaser prices. Value added by industry is normally measured at basic prices.

Aggregation method: Weighted average

Periodicity: Annual

General Comments: Note: Data for OECD countries are based on ISIC, revision 4.