Economy - overview:
Barbados is the wealthiest and most developed country in the Eastern Caribbean and enjoys one of the highest per capita incomes in Latin America. Historically, the Barbadian economy was dependent on sugarcane cultivation and related activities. However, in recent years the economy has diversified into light industry and tourism with about four-fifths of GDP and of exports being attributed to services. Offshore finance and information services are important foreign exchange earners and thrive from having the same time zone as eastern US financial centers and a relatively highly educated workforce. Barbados' tourism, financial services, and construction industries have been hard hit since the onset of the global economic crisis in 2008. Barbados' public debt-to-GDP ratio rose from 56% in 2008 to 90.5% in 2013. Growth prospects are limited because of a weak tourism outlook and planned austerity measures.
GDP (purchasing power parity): GDP (official exchange rate): GDP - real growth rate: GDP - per capita (PPP): Gross national saving: GDP - composition, by end use:
GDP - composition, by sector of origin:
Agriculture - products: Industries: Industrial production growth rate: Labor force: Labor force - by occupation:
Unemployment rate: Population below poverty line: Household income or consumption by percentage share:
Budget:
Taxes and other revenues: Budget surplus (+) or deficit (-): Public debt: Fiscal year: Inflation rate (consumer prices): Central bank discount rate: Commercial bank prime lending rate: Stock of narrow money: Stock of broad money: Stock of domestic credit: Market value of publicly traded shares: Current account balance: Exports: Exports - commodities: Exports - partners: Imports: Imports - commodities: Imports - partners: Reserves of foreign exchange and gold: Debt - external: Exchange rates:
NOTE: 1) The information regarding Barbados on this page is re-published from the 2015 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Barbados Economy 2015 information contained here. All suggestions for corrections of any errors about Barbados Economy 2015 should be addressed to the CIA.
$7.004 billion (2013 est.)
country comparison to the world: 162
note:
data are in 2013 US dollars
[see also: GDP country ranks ]
$4.262 billion (2013 est.)
[see also: GDP (official exchange rate) country ranks ]
-0.8% (2013 est.)
country comparison to the world: 203
[see also: GDP - real growth rate country ranks ]
$25,100 (2013 est.)
country comparison to the world: 60
note:
data are in 2013 US dollars
[see also: GDP - per capita country ranks ]
9% of GDP (2013 est.)
country comparison to the world: 140
[see also: Gross national saving country ranks ]
household consumption:
81.7%
government consumption:
15.4%
investment in fixed capital:
14.3%
investment in inventories:
1.9%
exports of goods and services:
40.5%
imports of goods and services:
-53.8%
agriculture:
3.1%
industry:
13.9%
services:
83% (2013 est.)
sugarcane, vegetables, cotton
tourism, sugar, light manufacturing, component assembly for export
-0.7% (2013 est.)
country comparison to the world: 172
[see also: Industrial production growth rate country ranks ]
141,800 (2013 est.)
country comparison to the world: 179
[see also: Labor force country ranks ]
agriculture:
10%
industry:
15%
services:
75% (1996 est.)
11.4% (2013 est.)
country comparison to the world: 119
[see also: Unemployment rate country ranks ]
NA%
[see also: Population below poverty line country ranks ]
lowest 10%:
NA%
highest 10%:
NA%
revenues:
$1.15 billion (2013 est.)
expenditures:
$1.45 billion (2013 est.)
27% of GDP (2013 est.)
country comparison to the world: 110
[see also: Taxes and other revenues country ranks ]
-7% of GDP (2013 est.)
country comparison to the world: 186
[see also: Budget surplus (+) or deficit (-) country ranks ]
90.5% of GDP (2013 est.)
country comparison to the world: 21
[see also: Public debt country ranks ]
1 April - 31 March
2.1% (2013 est.)
country comparison to the world: 72
[see also: Inflation rate (consumer prices) country ranks ]
7% (31 December 2010 est.)
country comparison to the world: 40
[see also: Central bank discount rate country ranks ]
8.5% (31 December 2013 est.)
country comparison to the world: 105
[see also: Commercial bank prime lending rate country ranks ]
$1.749 billion (31 December 2013 est.)
country comparison to the world: 131
[see also: Stock of narrow money country ranks ]
$4.229 billion (31 December 2013 est.)
country comparison to the world: 133
[see also: Stock of broad money country ranks ]
$5.035 billion (31 December 2013 est.)
country comparison to the world: 113
[see also: Stock of domestic credit country ranks ]
$4.495 billion (31 December 2012 est.)
[see also: Market value of publicly traded shares country ranks ]
-$276.6 million (2013 est.)
country comparison to the world: 90
[see also: Current account balance country ranks ]
$1.051 billion (2013 est.)
country comparison to the world: 159
[see also: Exports country ranks ]
manufactures, sugar and molasses, rum, other foods and beverages, chemicals, electrical components
Trinidad and Tobago 20.8%, US 11.9%, St. Lucia 9.7%, St. Vincent and the Grenadines 6%, Jamaica 5.6%, Antigua and Barbuda 4.9%, St. Kitts and Nevis 4.6%, UK 4.4% (2012)
$1.674 billion (2013 est.)
country comparison to the world: 169
[see also: Imports country ranks ]
consumer goods, machinery, foodstuffs, construction materials, chemicals, fuel, electrical components
Trinidad and Tobago 35.9%, US 26.9%, China 5.6% (2012)
$712.6 million (31 December 2013 est.)
country comparison to the world: 145
[see also: Reserves of foreign exchange and gold country ranks ]
$4.49 billion (2010 est.)
country comparison to the world: 124
[see also: Debt - external country ranks ]
Barbadian dollars (BBD) per US dollar -
note:
the Barbadian dollar is pegged to the US dollar
2) The rank that you see is the CIA reported rank, which may habe the following issues:
a) They assign increasing rank number, alphabetically for countries with the same value of the ranked item, whereas we assign them the same rank.
b) The CIA sometimes assignes counterintuitive ranks. For example, it assigns unemployment rates in increasing order, whereas we rank them in decreasing order
Airport Codes
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This page was last modified 10-Feb-15