Services share of GDP in LatAm and the Caribbean

In 2023, approximately 65 percent of the total value added to GDP in Latin America and the Caribbean was generated by the services industry. This share has increased for the third consecutive year, having accounted for 64.1 percent in 2021.

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 2014 to 2023

Characteristic	Share of GDP
2023	65.3%
2022	64.3%
2021	64.1%
2020	67.3%
2019	67.8%
2018	67.6%
2017	68%
2016	68%
2015	67.4%
2014	58.4%

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

2014 to 2023

Supplementary notes

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.

Citation formats