Countries by Services, value added (constant 2015 US$)

Ranking 2024

Analysis

This metric measures the output of service-producing industries in constant 2015 US dollars, allowing comparisons across time without the distortion of inflation. According to the World Bank World Development Indicators (indicator code NV.SRV.TOTL.KD), 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 services. The ranking covers 202 countries. Of these, 192 out of 202 (95.0%) have data from the last seven years, and 100% of datapoints are classified as official. The viability checks identified 20 extreme outliers at the 3-sigma threshold, and 84.7% of countries have data from the latest reference year of 2024.

The top of the ranking is dominated by large, high-income economies. The United States (rank 1) at $13.97 trillion is followed by China (rank 2) at $10.19 trillion and Japan (rank 3) at $3.19 trillion. The United Kingdom (rank 4, $2.41 trillion) and Germany (rank 5, $2.41 trillion) are separated by less than $227 million, making them statistically near-identical. France ranks 6th at $1.98 trillion, and India ranks 7th at $1.71 trillion, notable as the only lower-middle-income economy in the top ten. Brazil (rank 9, $1.29 trillion) and Canada (rank 10, $1.28 trillion) are also closely matched. Population size and economic diversification both correlate with high absolute service output, though this metric does not normalize by population or GDP share.

The middle ranks show considerable diversity. South Korea (rank 12, $1.10 trillion) exceeds Spain (rank 13, $1.01 trillion). Nigeria (rank 25, $319.97 billion) is the highest-ranked sub-Saharan African economy, ahead of Hong Kong SAR (rank 26, $303.84 billion) and Singapore (rank 30, $283.52 billion), two city-state economies whose service sectors are large relative to their geographic size. Iran ranks 33rd at $271.53 billion, placing it above Austria (rank 34) and Egypt (rank 35). Cuba appears at rank 63 with $64.37 billion, between the Dominican Republic (rank 61, $65.01 billion) and Uzbekistan (rank 64, $59.55 billion). At the lower end of the ranking, small island states and landlocked low-income countries cluster together, with many recording values below $1 billion.

Because values are expressed in absolute terms rather than per capita or as a share of GDP, larger countries will structurally rank higher regardless of the efficiency or depth of their service sectors. Constant 2015 US dollar conversion introduces exchange rate and deflator assumptions that may not reflect domestic conditions accurately, particularly for economies with volatile currencies or significant informal sectors. Data for some countries, especially in conflict-affected or low-capacity statistical environments, may rely on estimates or older base years extrapolated forward. The 20 extreme outliers flagged at the 3-sigma threshold warrant attention when using this data for cross-country comparisons. Coverage is strong at 202 countries, but users should verify the specific reference year for individual countries given that only 84.7% have 2024 data.

Methodology

Data are drawn from the World Bank World Development Indicators, indicator code NV.SRV.TOTL.KD, for the reference year 2024. Values are expressed in constant 2015 US dollars to control for inflation. The metric covers 202 countries. Of these, 192 (95.0%) have data from within the last seven years, and 100% of datapoints carry official data status. The viability checks identified 20 extreme outliers using a 3-sigma threshold, and the average year-over-year change across the dataset is 4.9%. Only 84.7% of countries have data specifically from 2024; the remainder use the most recent available year. The included industries correspond to the source definition: 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 services. Agricultural and industrial output are excluded. The data range runs from $142,708,394.91 (Marshall Islands, rank 202) to $13,971,736,585,000 (United States, rank 1), a spread of 9,790,309.7%.

Sources

• World Bank