Caribbean small states: Industry, including construction, value added (constant 2015 US$)

Key figures

What the numbers say

In 2024, Caribbean small states' industry, including construction, value added (constant 2015 US$) rose 30.8% on 2023 (from US$25.48 billion to US$33.32 billion).

Across the 30 yearly changes before that (1994 to 2023), the average change was +4.7% and a typical year strayed about 7.4% from that (the standard deviation). This year's change was 3.5 standard deviations above that average, so it was unusually large compared with the rest of the record.

On record, the biggest yearly rise was 31% in 2022 and the biggest yearly fall was 5% in 1987. The numbers show how large and when, not why; for the cause, look at what happened in that country in those years.

From 2015 to 2024 the straight-line trend is upward, about US$1.64 billion a year. A straight line explains 63% of the movement over 10 observed years.

Worked out from the yearly values above. How the checks work: standard deviation, z-scores and straight-line trends.

How it compares

See how every economy compares in the full ranking.

What this measures

Industry (including construction) corresponds to ISIC (Rev.4) divisions 05-43. It is comprised of mining, manufacturing, construction, electricity, water, and gas industries. 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 is expressed in constant prices, meaning the series has been adjusted to account for price changes over time. The reference year for this adjustment is 2015. This indicator is expressed in United States dollars.

Limitations: Ideally, industrial output should be measured through regular censuses and surveys of firms. But in most developing countries such surveys are infrequent, so earlier survey results must be extrapolated using an appropriate indicator. The choice of sampling unit, which may be the enterprise (where responses may be based on financial records) or the establishment (where production units may be recorded separately), also affects the quality of the data. Moreover, much industrial production is organized in unincorporated or owner-operated ventures that are not captured by surveys aimed at the formal sector.

Regional and income-group figures are computed by the World Bank as a gap-filled total.

All 41 values

Industry, including construction, value added (constant 2015 US$) in nearby economies

• Afghanistan — US$4.34 billion (2024)
• Algeria — US$77.03 billion (2025)
• Bahrain — US$14.74 billion (2025)
• Djibouti — US$686.8 million (2025)
• Egypt, Arab Rep. — US$152.18 billion (2025)
• Iran, Islamic Rep. — US$184.3 billion (2025)
• Iraq — US$75.86 billion (2025)
• Israel — US$78.77 billion (2024)
• Jordan

More economic policy & debt data for Caribbean small states

• GDP (current US$) — US$95.14 billion (2025)
• GDP (constant 2015 US$) — US$91.37 billion (2025)
• GDP per capita (current US$) — US$20,880 (2025)
• GDP per capita (constant 2015 US$) — US$20,053 (2025)
• GNI (current US$) — US$87.32 billion (2025)
• GDP (annual % growth) — 7.98% (2025)
• GDP per capita (annual % growth) — 7.56% (2025)
• GNI, Atlas method (current US$) — US$88.41 billion (2025)
• GNI per capita, Atlas method (current US$) — US$19,403 (2025)
• Agriculture, forestry, and fishing, value added (current US$)

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Questions people ask

What is Caribbean small states's industry, including construction, value added (constant 2015 US$)?

US$33.32 billion in 2024, according to the World Bank (World Development Indicators).

How has it changed since 1984?

It is up 371.27% from US$7.07 billion in 1984 (3.95% a year on average, compounded). The highest value was US$33.32 billion in 2024 and the lowest US$6.56 billion in 1987.

Is the latest change in industry, including construction, value added (constant 2015 US$) unusual for Caribbean small states?

In 2024, Caribbean small states' industry, including construction, value added (constant 2015 US$) rose 30.8% on 2023 (from US$25.48 billion to US$33.32 billion). Across the 30 yearly changes before that (1994 to 2023), the average change was +4.7% and a typical year strayed about 7.4% from that (the standard deviation). This year's change was 3.5 standard deviations above that average, so it was unusually large compared with the rest of the record.

Source

World Bank, World Development Indicators, indicator NV.IND.TOTL.KD, licensed CC BY 4.0. Original source: Country official statistics, National Statistical Offices (NSOs); National Accounts data files, Central Banks; Staff estimates, World Bank (WB) Figures are fetched from the World Bank API and refreshed monthly; see the series on data.worldbank.org. The full definition and method are in the World Bank's metadata glossary. Comparisons use the same World Bank release.

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