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.

Top 3 Trade Partners (2016): United States, Trinidad and Tobago, and China
Top 3 Exported Goods (2016): Precious Stones & Metals, Oil & Mineral Fuels, and Beverages

Top Industries Source: CIA World Factbook

Tourism, Sugar, Light Manufacturing, Component Assembly For Export

Gross Domestic Product (GDP) [1]

GDP, PPP (current international) $5,325,645,513 (2017)
GDP Growth Rate (annual %) 1.671% (2017)
GDP Per Capita, PPP (current international) $18,639 (2017)
Click on a row to display its 5-year graph on the right.

GDP Country Rank 164/195 (2017)

GDP Composition %

Note: GDP composition percentage may exceed 100. Manufacturing is included in the Industry figures and is also reported separately because it plays a critical role in many economies.

Economic Indicators [1]

Inflation, consumer prices (annual %) -1.061% (2015)
External debt stocks, total (DOD, current US$) Data unavailable
Total tax rate (% of commercial profits) 35.3% (2017)
Real Interest Rate (5 year average %) 11.552% (2016)
Manufacturing, value added (% of GDP) 4.829% (2016)
Current Account Balance (BoP, current US$) ($248,161,275) (2013)
Click on a row to display its 5-year graph on the right.

Labor and Employment [1]

Labor Force, Total 152,437 (2017)
Employment in Agriculture (% of total employment) 2.904% (2017)
Employment in Industry (% of total employment) 19.215% (2017)
Employment in Services (% of total employment) 77.882% (2017)
Unemployment Rate 9.687% (2017)
Click on a row to display its 5-year graph on the right.

Trade [1]

Imports of goods and services (current US$) $2,096,638,446 (2017)
Exports of goods and services (current US$) $1,775,045,921 (2017)
Total Merchandise Trade (% of GDP) 44.508% (2017)
FDI, net inflows (BoP, current US$) $228,292,052 (2016)
Commercial Service Exports (current US$) $1,385,498,227 (2013)
Click on a row to display its 5-year graph on the right.

Economic Snapshot [1]

Note: Percentile ranks are calculated using the latest available data for all countries within the last 5 years.

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

Sources

  1. The World Bank