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, which caused the economy to contract 4% in 2009 and grow below 1% annually since 2010. Barbados' public debt-to-GDP ratio rose to from 56% in 2008 to 83% in 2012.
GDP (purchasing power parity): GDP (official exchange rate): GDP - real growth rate: GDP - per capita (PPP): GDP - composition by sector: 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: 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: Agriculture - products: Industries: Industrial production growth rate: Current account balance: Exports: Exports - commodities: Exports - partners: Imports: Imports - commodities: Imports - partners: Reserves of foreign exchange and gold: Debt - external: Exchange rates: Fiscal year:
NOTE: 1) The information regarding Barbados on this page is re-published from the 2013 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Barbados Economy 2013 information contained here. All suggestions for corrections of any errors about Barbados Economy 2013 should be addressed to the CIA.
$7.091 billion (2012 est.)
country comparison to the world: 158
note:
data are in 2012 US dollars
[see also: GDP country ranks ]
$4.533 billion (2012 est.)
[see also: GDP (official exchange rate) country ranks ]
0.7% (2012 est.)
country comparison to the world: 171
[see also: GDP - real growth rate country ranks ]
$25,500 (2012 est.)
country comparison to the world: 55
note:
data are in 2012 US dollars
[see also: GDP - per capita country ranks ]
agriculture: 3.1%
[see also: GDP - composition by sector - agriculture country ranks ]
industry:
13.6%
services:
83.3% (2012 est.)
145,000 (2011 est.)
country comparison to the world: 177
[see also: Labor force country ranks ]
agriculture: 10%
[see also: Labor force - by occupation - agriculture country ranks ]
industry:
15%
services:
75% (1996 est.)
11.2% (2011 est.)
country comparison to the world: 121
[see also: Unemployment rate country ranks ]
NA%
[see also: Population below poverty line country ranks ]
lowest 10%: NA%
[see also: Household income or consumption by percentage share - lowest 10% country ranks ]
highest 10%:
NA%
revenues: $1.3 billion (2012 est.)
[see also: Budget revenues country ranks ]
expenditures:
$1.5 billion (2012 est.)
28.7% of GDP (2012 est.)
country comparison to the world: 107
[see also: Taxes and other revenues country ranks ]
-4.4% of GDP (2012 est.)
country comparison to the world: 142
[see also: Budget surplus (+) or deficit (-) country ranks ]
83.1% of GDP (2012 est.)
country comparison to the world: 23
[see also: Public debt country ranks ]
6.1% (2012 est.)
country comparison to the world: 159
[see also: Inflation rate (consumer prices) country ranks ]
7% (31 December 2010 est.)
country comparison to the world: 43
[see also: Central bank discount rate country ranks ]
8.5% (31 December 2012 est.)
country comparison to the world: 109
[see also: Commercial bank prime lending rate country ranks ]
$1.987 billion (31 December 2012 est.)
country comparison to the world: 126
[see also: Stock of narrow money country ranks ]
$5.711 billion (31 December 2011 est.)
country comparison to the world: 124
[see also: Stock of broad money country ranks ]
$5.65 billion (31 December 2012 est.)
country comparison to the world: 115
[see also: Stock of domestic credit country ranks ]
$4.571 billion (31 December 2011)
country comparison to the world: 83
[see also: Market value of publicly traded shares country ranks ]
sugarcane, vegetables, cotton
tourism, sugar, light manufacturing, component assembly for export
NA%
[see also: Industrial production growth rate country ranks ]
-$344.9 million (2012 est.)
country comparison to the world: 90
[see also: Current account balance country ranks ]
$491.1 million (2012 est.)
country comparison to the world: 173
[see also: Exports country ranks ]
manufactures, sugar and molasses, rum, other foods and beverages, chemicals, electrical components
Trinidad and Tobago 18.9%, France 10.7%, US 9.7%, St. Lucia 8.8%, St. Vincent and the Grenadines 5.4%, Venezuela 4.9%, Antigua and Barbuda 4.5%, St. Kitts and Nevis 4.2% (2011)
$1.633 billion (2012 est.)
country comparison to the world: 169
[see also: Imports country ranks ]
consumer goods, machinery, foodstuffs, construction materials, chemicals, fuel, electrical components
Russia 26.6%, Trinidad and Tobago 24.8%, US 18.6%, China 6.1% (2011)
$855.3 million (31 December 2012 est.)
country comparison to the world: 139
[see also: Reserves of foreign exchange and gold country ranks ]
$4.49 billion (2010 est.)
country comparison to the world: 123
[see also: Debt - external country ranks ]
Barbadian dollars (BBD) per US dollar -
note:
the Barbadian dollar is pegged to the US dollar
1 April - 31 March
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
Flags
This page was last modified 11-Mar-13