Services share of GDP — all countries

Services share of GDP — Caribbean

Services share of GDP in the Caribbean in 2023 — 58.7%. Since 2006, the indicator has fallen by 0.7 pp.

2023 58.7% +1.5 pp vs 2022
World rank
Period maximum 62.4%2020
Period minimum 56.8%2021

Trend over time

2006–2023 · % of GDP

Services share of GDP — Caribbean, 2006–2023565860626420062008201020122014201620182020202220232006: 59.4%2007: 59.7%2008: 58.9%2009: 59.9%2010: 59.6%2011: 59.8%2012: 60.1%2013: 60.4%2014: 60.8%2015: 61.2%2016: 61.6%2017: 61.4%2018: 61.2%2019: 61.1%2020: 62.4%2021: 56.8%2022: 57.3%2023: 58.7%
Change over the period: −0.7 pp Annual average: -0.04 pp

Comparison, 2023

How the value compares with the world and the groups this territory belongs to: Caribbean

Caribbean 58.7%
World 63%
Services share of GDP — Caribbean, by year Caribbean All countries CSV XLSX
Year % Change, pp
2023 58.7 +1.5 pp
2022 57.3 +0.5 pp
2021 56.8 −5.6 pp
2020 62.4 +1.3 pp
2019 61.1 −0.1 pp
2018 61.2 −0.2 pp
2017 61.4 −0.2 pp
2016 61.6 +0.4 pp
2015 61.2 +0.4 pp
2014 60.8 +0.4 pp
2013 60.4 +0.3 pp
2012 60.1 +0.3 pp
2011 59.8 +0.2 pp
2010 59.6 −0.3 pp
2009 59.9 +1 pp
2008 58.9 −0.7 pp
2007 59.7 +0.2 pp
2006 59.4

About the indicator

The share of value added by the service sector in GDP: wholesale and retail trade, transport, communications, finance, real estate, business and government services, education and health care. In most high-income countries it exceeds 70%; in small island states and tourism economies it reaches 80–90%.

Source: World Development Indicators (World Bank), license CC BY 4.0.