On average, every worker in the services industry in Latin America and the Caribbean contributed with an added value of 18.4 thousand U.S. dollars to the region's gross domestic product (GDP) in 2019. This contribution per worker in the services sector was particularly higher in several countries or territories in the Caribbean. For instance, each worker in the services sector in the Bahamas was estimated to contribute with a value added of approximately 52,500 dollars to the country's 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) per worker in Latin America and the Caribbean in 2019, by country or territory
(in U.S. dollars)
Values in constant U.S. dollars based on 2010 prices
Supplementary notes
* Data is from 2018.
No recent data available for Barbados and Venezuela.
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.
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World Bank. (March 9, 2021). Value added by the services industry to the gross domestic product (GDP) per worker in Latin America and the Caribbean in 2019, by country or territory (in U.S. dollars) [Graph]. In Statista. Retrieved December 30, 2024, from https://www.statista.com/statistics/1070815/latin-america-caribbean-services-sector-value-added-gdp-per-worker-country/
World Bank. "Value added by the services industry to the gross domestic product (GDP) per worker in Latin America and the Caribbean in 2019, by country or territory (in U.S. dollars)." Chart. March 9, 2021. Statista. Accessed December 30, 2024. https://www.statista.com/statistics/1070815/latin-america-caribbean-services-sector-value-added-gdp-per-worker-country/
World Bank. (2021). Value added by the services industry to the gross domestic product (GDP) per worker in Latin America and the Caribbean in 2019, by country or territory (in U.S. dollars). Statista. Statista Inc.. Accessed: December 30, 2024. https://www.statista.com/statistics/1070815/latin-america-caribbean-services-sector-value-added-gdp-per-worker-country/
World Bank. "Value Added by The Services Industry to The Gross Domestic Product (Gdp) per Worker in Latin America and The Caribbean in 2019, by Country or Territory (in U.S. Dollars)." Statista, Statista Inc., 9 Mar 2021, https://www.statista.com/statistics/1070815/latin-america-caribbean-services-sector-value-added-gdp-per-worker-country/
World Bank, Value added by the services industry to the gross domestic product (GDP) per worker in Latin America and the Caribbean in 2019, by country or territory (in U.S. dollars) Statista, https://www.statista.com/statistics/1070815/latin-america-caribbean-services-sector-value-added-gdp-per-worker-country/ (last visited December 30, 2024)
Value added by the services industry to the gross domestic product (GDP) per worker in Latin America and the Caribbean in 2019, by country or territory (in U.S. dollars) [Graph], World Bank, March 9, 2021. [Online]. Available: https://www.statista.com/statistics/1070815/latin-america-caribbean-services-sector-value-added-gdp-per-worker-country/
