Barbados: Economy

Economic Trivia

Barbados is the richest and most developed country in Eastern Caribbean.

Trade Source: United Nations Comtrade
Note: Top 3 trade partners are calculated by imports + exports.

Data unavailable

Top Industries Source: CIA World Factbook

Tourism, Sugar, Light Manufacturing, Component Assembly For Export

Gross Domestic Product (GDP) Source: The World Bank

GDP, PPP (current international) $4,550,463,947 (2014)
GDP Growth Rate (annual %) 0.18% (2014)
GDP Per Capita, PPP (current international) $16,058 (2014)
Click on a row to display its 5-year graph on the right.

GDP Country Rank 163/193 (2014)

Economic Indicators Source: The World Bank

Inflation, consumer prices (annual %) 1.887% (2014)
External debt stocks, total (DOD, current US$) Data unavailable
Total tax rate (% of commercial profits) 34.7% (2015)
Real Interest Rate (5 year average %) 6.935% (2014)
Manufacturing, value added (% of GDP) 5.786% (2012)
Current Account Balance (BoP, current US$) ($248,161,275) (2013)
Click on a row to display its 5-year graph on the right.

Labor and Employment Source: The World Bank

Labor Force, Total 162,318 (2014)
Employment in Agriculture (% of total employment) 2.7% (2013)
Employment in Industry (% of total employment) 18.9% (2013)
Employment in Services (% of total employment) 78.4% (2013)
Unemployment Rate 12% (2014)
Click on a row to display its 5-year graph on the right.
Imports of goods and services (current US$) $2,105,000,000 (2014)
Exports of goods and services (current US$) $1,590,500,000 (2014)
Total Merchandise Trade (% of GDP) 49.932% (2014)
FDI, net inflows (BoP, current US$) $275,062,718 (2014)
Commercial Service Exports (current US$) $1,385,498,227 (2013)
Click on a row to display its 5-year graph on the right.

How to interpret the graph: The purpose of this graph is to take a snapshot of a country’s economy in comparison to other economies. For example, Barbados’s Exports rank is higher than (please wait...) of the countries in the dataset. For Exports, FDI and GDP measures, a higher rank (closer to 100%) indicates a stronger economy. Conversely, for Unemployment and Inflation, a lower rank (closer to 0%) indicates a stronger economy.

Due to unavailable data the following indicators have been omitted:
  • Exports
  • FDI, net inflows
  • GDP Growth Rate
  • GDP Per Capita
  • Inflation
  • Unemployment

Glossary