The island was uninhabited when first settled by the British in 1627. Slaves worked the sugar plantations established on the island until 1834 when slavery was abolished. The economy remained heavily dependent on sugar, rum, and molasses production through most of the 20th century. The gradual introduction of social and political reforms in the 1940s and 1950s led to complete independence from the UK in 1966. In the 1990s, tourism and manufacturing surpassed the sugar industry in economic importance.
Capital City:
Bridgetown (-4 GMT)
Chief of State:
Queen Elizabeth II
Head of Govt.:
Prime Minister David Thompson
Currency:
Barbadian dollar
Major Languages:
English
Calling Code:
1-246
Voltage:
115
Stock Exchanges:
Barbados Stock Exchange
Primary Religions:
Protestant 63.4% (Anglican 28.3%, Pentecostal 18.7%, Methodist 5.1%, other 11.3%), Roman Catholic 4.2%, other Christian 7%, other 4.8%, none or unspecified 20.6%
Main Airports
Barbados (BGI) (Grantley Adams International)
U.S. Embassy
Canadian Imperial Bank of Commerce Building, Broad Street, Bridgetown
tel: 246-436-4950
Key Facts
-
GDP (ppp) per CAPITA
-
$19,100 (2008 est.)
-
Inflation Rate
-
5.5% (2007 est.)
-
Population
-
284,589 (July 2009 est.)
-
Country Risk Ratings
-
-
-
Ease of Doing Business
-
-/181
-
Global Competitiveness
-
47/134
Statistics
- Labor force:
- 175,000 (2007 est.)
- Exports:
- $385 million (2006)
- Exports - partners:
- Trinidad and Tobago 15.5%, Jamaica 13.6%, Brazil 9.9%, US 8.6%, UK 7.8%, Saint Lucia 7.2%, Saint Vincent and the Grenadines 4.5% (2008)
- Imports:
- $1.586 billion (2006)
- Imports - partners:
- US 27.8%, Trinidad and Tobago 26.3%, Russia 7.3%, Germany 4.2% (2008)
- Major Industries:
- tourism, sugar, light manufacturing, component assembly for export
Rankings
Corruption Perceptions Index
6.7
out of 180
The Corruptions Perception Index (CPI) is reported annually by Transparency International, an international civil society organization. The CPI ranks countries in terms of the degree to which corruption exists in the misuse of public power for private benefit among public officials and politicians. CPI is a composite index determined by expert assessments and opinion surveys. The highest ranked country is the country with the least amount of perceived corruption. Index units, 10=least corrupt, 0=most corrupt.
Data collected in
2006
Source:
Transparency International
The E-readiness Ranking is reported yearly by the Economist Intelligence Unit, a research and advisory firm. The E-readiness Ranking evaluates the technological, economic, political and social assets of countries to assess the information and communications technology infrastructure, and the infrastructures benefits on the country's consumers, businesses and governments. The higher ranked countries have a better ability to leverage digital channels for communication, commerce, and government in order to further development.
Data collected in
2007
Source:
EIU
Freedom of the Press
17
out of 191
The Freedom of the Press Survey is an annual report by The Freedom House, an organization that promotes and researches advocacy of freedom across countries. The Press Survey assesses the degree of print, broadcast, and internet freedom in every country in the world. Ratings are determined by examining three broad categories: the legal environment in which media operate (0-30 points), political influences on reporting and access to information (0-40 points), and economic pressures on content and the dissemination of news (0-30 points). The highest ranked country has the greatest degree of press freedom. Index units, 1-30: Free, 31-60: Partly Free, 61-100: Not Free.
Data collected in
2006
Source:
Freedom House
Global Services Location Index
-
The Global Services Location Index is published annually by A.T. Kearney, a global management consulting firm. The Global Services Location Index measures the viability of countries as a potential offshore destination for services, based on their financial attractiveness (0-4 points), people and skills availability (0-3 points), and business environment (0-3 points). The highest ranked country is the most attractive as a potential offshoring destination. Index units, 0=location does not provide offshore support, 10=location does provide offshore support.
Data collected in
2007
Source:
A.T. Kearney
Index of Economic Freedom
21
out of 155
The Index of Economic Freedom is reported annually by the Heritage Foundation, a research and educational institute. The Index of Economic Freedom analyzes a wide range of issues including trade barriers, corruption, government expenditures, property rights, and tax rates to generate an overall ranking of economic freedom. The highest ranked country is the country with the least number of restrictions and constraints on businesses.
Data collected in
2008
Source:
Heritage Foundation
Tax Misery & Reform Index
-
The Forbes Tax Misery Index is annually compiled by Forbes, an American publishing and media company. The Tax Misery Index reflects the sum of corporate income, personal income and wealth taxes plus employer social security, employee social security and VAT/sales taxes at the highest marginal rate in each locale. The highest ranked countries impose the harshest taxes while those at the bottom are the most tax friendly.
Data collected in
2007
Source:
Forbes
The Globalization Index
-
The Globalization Index is compiled annually by A.T. Kearney and Foreign Policy. The Globalization Index ranks the major developed and developing countries in the world by analyzing key components of global integration, such as economic, personal, technological, and political integration. The highest ranked country is the most globalized.
Data collected in
2007
Source:
Foreign Policy
