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 (2019): United States, Trinidad and Tobago, and Netherlands
Top 3 Exported Goods (2019): Oil & Mineral Fuels, Beverages, and Pharmaceuticals

Top Industries Source: CIA World Factbook

Tourism, Sugar, Light Manufacturing, Component Assembly For Export

Gross Domestic Product (GDP) [1]

GDP, PPP (current international) $3,901,579,110 (2020)
GDP Growth Rate (annual %) -17.605% (2020)
GDP Per Capita, PPP (current international) $13,577 (2020)
Click on a row to display its 5-year graph on the right.

GDP Country Rank 172/197 (2020)

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 %) 4.1% (2019)
External debt stocks, total (DOD, current US$) Data unavailable
Total tax rate (% of commercial profits) 35.6% (2019)
Real Interest Rate (5 year average %) 5.132% (2018)
Manufacturing, value added (% of GDP) 4.829% (2016)
Current Account Balance (BoP, current US$) ($453,016,313) (2016)
Click on a row to display its 5-year graph on the right.

Labor and Employment [1]

Labor Force, Total 147,470 (2020)
Employment in Agriculture (% of total employment) 2.562% (2020)
Employment in Industry (% of total employment) 18.927% (2020)
Employment in Services (% of total employment) 78.51% (2020)
Unemployment Rate 12.79% (2020)
Click on a row to display its 5-year graph on the right.

Trade [1]

Imports of goods and services (current US$) $2,171,296,150 (2019)
Exports of goods and services (current US$) $2,188,203,000 (2019)
Total Merchandise Trade (% of GDP) 42.676% (2020)
FDI, net inflows (BoP, current US$) $215,370,000 (2019)
Commercial Service Exports (current US$) $1,393,663,787 (2016)
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


  1. The World Bank