Services sector's value added to GDP in St. Vincent & Grenadines

In 2023, the value added by the services industry to the gross domestic product in St. Vincent & the Grenadines increased by 35.9 million U.S. dollars (+6.19 percent) compared to 2022. With 616.3 million U.S. dollars, the value added thereby reached its highest value in the observed period.
Value added of a sector is the contribution of a sector to the overall GDP. The components of value added consist of compensation of employees, taxes on production and imports less subsidies, and gross operating surplus. Value added equals the difference between a sector’s gross output and the cost of its intermediate inputs.

Find more statistics on other topics about St. Vincent & the Grenadines with key insights such as value added by the agriculture, forestry and fishing sector to the gross domestic product, value added by the agriculture, forestry, and fishing sector to the gross domestic product, and value added by the services industry to the gross domestic product.

Value added by the services industry to the gross domestic product (GDP) in Saint Vincent and the Grenadines from 2014 to 2023 (in million U.S. dollars)

Characteristic	Value in million U.S. dollars
2023	616.3
2022	580.43
2021	531.81
2020	532.43
2019	557.13
2018	545.07
2017	529.6
2016	524.53
2015	509.07
2014	492.85

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Release date

October 2024

More information

Region

St. Vincent & Grenadines

Survey time period

2014 to 2023

Special properties

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

Supplementary notes

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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