Services, value added in Cuba
Cuba: Services, value added was -0.1% in 2024. ◆ Volatile
Services, value added in Cuba, 1997–2024
Source: Country official statistics, National Statistical Offices (NSOs). Measured in annual % growth.
Analysis
The most recent figure for services, value added in Cuba is -0.1%, measured in 2024.
Compared with earlier readings it is up 96.7% on the previous year and down 102.2% over ten years.
Over the whole period, services, value added in Cuba peaked at 14.2% in 2005 and was at its lowest, -11.2%, in 2020.
That places Cuba 180th out of 197 countries with data for 2024, putting it in the bottom quarter.
The series is highly variable year to year, so single readings are best treated with caution.
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | 4.0% | 1.9% | 5.5% | 3 |
| 2000s | 6.6% | 2.2% | 14.2% | 10 |
| 2010s | 2.4% | 1.2% | 4.0% | 10 |
| 2020s | -0.9% | -11.2% | 4.3% | 5 |
Countries ranked near Cuba
More economy & growth data for Cuba
- Industry (including construction), value added 23.8% (2024)
- Manufacturing, value added 10.7% (2024)
- Industry (including construction), value added 24.71 billion current US$ (2020)
- Industry (including construction), value added 258.69 billion current LCU (2024)
- Industry (including construction), value added 14.71 billion constant 2015 US$ (2024)
- Industry (including construction), value added -3.0% (2024)
- Industry (including construction), value added 8.79 billion constant LCU (2024)
- GNI per capita, Atlas method 9,010 current US$ (2019)
- GNI per capita 9,094 current LCU (2019)
- Net primary income (Net income from abroad) -1.55 billion current US$ (2019)
Frequently asked questions
- What is services, value added in Cuba?
- Services, value added in Cuba was -0.1% in 2024, according to Country official statistics, National Statistical Offices (NSOs).
- What is the highest services, value added recorded in Cuba?
- The highest recorded value was 14.2% in 2005.
- What is the lowest services, value added recorded in Cuba?
- The lowest recorded value was -11.2% in 2020.
- How does Cuba rank for services, value added?
- Cuba ranks 180th out of 197 countries with data for 2024.
- Is services, value added rising or falling in Cuba?
- Over the last ten years it is down 102.2%. The long-run trend across the full record is volatile.
- Where does this Cuba data come from?
- The figures come from Country official statistics, National Statistical Offices (NSOs), published as part of Services, value added (annual % growth). Statizoid updates them automatically from the source API.
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About this data
Services industries correspond to ISIC (Rev. 4) divisions 45-99 and includes wholesale and retail trade, repair of motor vehicles, hotels and restaurants, transport, storage and communication, financial intermediation, real estate, renting and business activities, public administration and defence, compulsory social security, education, health and social work, other community, social and personal service activities, private households with employed persons, and extra-territorial organizations and bodies. Value added is the contribution to the economy by a producer or an industry or an institutional sector, which is estimated by the total value of output produced and deducting the total value of intermediate consumption of goods and services used to produce that output. This indicator denotes the percentage change over each previous year of the constant price (base year 2015) series in United States dollars.