Services sector value added to GDP Latin America

In Latin America and the Caribbean, Brazil had the largest services industry based on the added value it generated for the country's gross domestic product (GDP) in 2021. This contribution was approximately 1.15 trillion U.S. dollars in Brazil, whereas in Mexico the services sector accounted for roughly 760 billion U.S. dollars of value added to 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) in Latin America and the Caribbean in 2021, by country (in billion U.S. dollars)

Characteristic	Value in billion U.S. dollars
Brazil	1,148.49
Mexico	760.06
Argentina	319.04
Colombia	198.67
Chile	163.71
Peru	118.61
Cuba*	60.28
Ecuador	52.08
Dominican Republic	50.88
Guatemala	46.24
Costa Rica	44.72
Panama	41
Uruguay	32.37
Paraguay	21.12
Bolivia	17.55
El Salvador	15.83
Honduras	15.26
Trinidad and Tobago*	12.85
Bahamas	8.85
Jamaica	8.53
Haiti	8.21
Nicaragua	6.37
Suriname*	2.51
Guyana	2.15
St. Lucia	1.24
Belize	1.07
Antigua and Barbuda	0.89
Grenada	0.66
St. Kitts and Nevis	0.6
St. Vincent and the Grenadines	0.53
Dominica	0.29

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Release date

March 2022

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Region

LAC

Survey time period

2021 or latest available year

Special properties

Values in constant U.S. dollars based on 2015 prices

Supplementary notes

* Data is from 2020.
No recent data available for Barbados
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.

The source does not provide a date of release, the date given is the one of last access.
Figures have been rounded.

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