GFmag Online Readers Survey 2012
Barbados


Barbados Country Report: GDP data and GDP forecasts; economic, financial and trade information; the best banks in Barbados; country and population overview

DATA ON GDP AND ECONOMIC INFORMATION
Central bankCentral Bank of Barbados
International ReservesUS$ 833.541 million (Source: World Bank; Data updated: November 2010)
Gross Domestic Product - GDPUS$ 4.224 billion (2009 estimate)
GDP (Purchasing Power Parity)6.421 billion of International dollars (2009 estimate)
Real GDP growth
20002001200220032004200520062007
2.3%-2.6%0.7%2%4.8%3.9%3.6%3.8%
2008200920102011*
-0.2%-4.7%-0.5%2%

*Estimate

GDP per capita - current pricesUS$ 15,234 (2009 estimate)
GDP per capita - PPP$23,156 International Dollars (2009 estimate)
GDP (PPP) - share of world total
19801990200020102015**
0.02%0.01%0.01%0.01%0.01%

**Forecast

GDP - composition by sector
  • agriculture: 3.4% 
  • industry: 13.4% 
  • services: 83.2% (2011 estimate)

    • (Data released on February 2012)

Gross domestic expenditure on R&D (% of GDP)N/A

(Data released on November 2010)

Inflation
2008200920102011*
8.1%(2008)3.7%5.1%6.1%

*Estimate

Unemployment rate
2008200920102011*
8.1%10.2%10.6%(2009)11.5%

*Estimate

Household saving ratesN/A

(Data released on November 2010)

Public debt (General government gross debt as a % of GDP)
20072008200920102011*
86.3%95.7%110.7%113.7%114.2%

*Estimate

Public deficit (General government net lending/borrowing as a % of GDP)
2007200820092010*2011**
-6.2%-6.9%-7.2%-6.8%-3.6%

*Estimate    **Forecast

Government bond ratings

Standard & Poor's: BBB-/Stable/A-3

Moody's rating: Baa3

Moody's outlook: STA

(Foreign Currency Government Bond Ratings; Data last updated Nov 2010)

Market value of publicly traded shares
200720082009
US$5.599 billionUS$4.964 billionN/A
Largest companies in BarbadosN/A
DATA ON TRADE AND COMPETITIVENESS
Current account balanceUS$ -0.3 billion (2009 estimate)(After 2008)
Current account balance by percentage of GDP-6.7% of GDP (2009 estimate)(2009)
Exports as percent of GDP

(Exports of goods and services)

60% (2008)

(Data released on December 2010)

Shares in world total merchandising export0%(2007)

(Data were released in Nov 2011 and refer to 2010)

Shares in world total commercial services export0.04%(2007)

(Data were released in Nov 2011 and refer to 2010)

Total exportsN/A
Export commoditiesmanufactures, sugar and molasses, rum, other foods and beverages, chemicals, electrical components
Total importsUS$1.586 billion (2006)
Import commoditiesconsumer goods, machinery, foodstuffs, construction materials, chemicals, fuel, electrical components
Exports - major partnersTrinidad and Tobago 15.5%, Jamaica 13.5%, UK 9.4%, US 9.3%, Brazil 8.3%, Saint Lucia 7.2%, Saint Vincent and the Grenadines 4.5% (2007)
Imports - major partnersUS 30.5%, Trinidad and Tobago 27.6%, UK 6.5% (2007)
FDI inflows
200820092010
US$267 millionUS$160 million(2009)US$80 million(2009)
FDI outflows
200820092010
US$3 millionUS$-80 millionUS$2 million
Value of cross-border M&A, by country of purchaser
2008200920102011
US$3 millionN/A(2009)N/A(2009)N/A
Cross-border M&A deals worth over $3 billion completed in 2008

(Acquiring company, Acquired company, Country of the acquired company, Value of the deal)

N/A

(for a monthly update on M&A click here )

Cross-border M&A deals worth over $3 billion completed in 2010

(Acquiring company, Acquired company, Country of the acquired company, Value of the deal)

N/A(2008 estimate)

(for a monthly update on M&A click here )

Best countries for doing business

World Bank/IFC Doing Business Project

(Economies are ranked on their ease of doing business, from 1 – 183. A high ranking means the regulatory environment is more conducive to the starting and operation of a local firm.)

Overall ranking: N/A(2009) (2010)

Subcategories:

Starting a business: N/A(2009)

Registering property: N/A

Paying Taxes: N/A

Getting credit: N/A

Protecting investors: N/A

Trading across border: N/A

Enforcing Contracts: N/A

(2010)

Global competitiveness ranking
(ranking by country on a basis of 142, the first is the best)		42

(2011/2012)

Index of Economic Freedom

WSJ and Heritage Foundation

Ranking: 42 Score: 68.5 (Moderately Free) (2009)

(100=totally free 0=totally repressed )

COUNTRY AND POPULATION OVERVIEW
Time zoneUTC-4
Total area 430 km2 (2006)
CapitalBridgetown (2009)
CurrencyBarbadian dollars (BBD) (2009)
Government typeparliamentary democracy and a Commonwealth realm (2009)
LanguagesEnglish
ReligionsProtestant 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% (2008 estimate)
Total population
1980199020002010*2015**
0.25 million0.25 million0.27 million0.28 million0.28 million

*Estimate    **Forecast

Urban population as % of total population
1960198020002009
36.8%39.6%36.3%40.3%
Population median age36.0 years (2006)
Population growth rate0.3% (2009)
Life expectancy77 years (2007)
Adult literacyN/A
% of population living on less than $2 a dayN/A
Inequality of wealth distribution (Gini index)

N/A

(0=perfect equality, 100=absolute inequality)

Freedom House rating

Political Rights:1
Civil Liberties:1 (2010)

(1 represents the most free, 7 the least free)

Total telephone subscribers as % of population

178.37% (2010)

(sum of fixed telephone lines and mobile cellular subscribers)

Internet users as % of total population70.2% (Data were released in 2011 and refer to 2010)
Cost of living index

(ranking by city on a basis of 214; the 1st is the most expensive and the 214th is the least expensive)

N/A

CO2 emissions
(Metric tons of CO2 per capita)

5.3017 (2008)

GLOBAL FINANCE RANKINGS AND AWARDS

WORLD'S BEST INTERNET BANKS

2011:
  • COUNTRY WINNERS / Best Consumer Internet Banks Scotiabank (National, 2011)
2010:
  • COUNTRY WINNERS / Best Consumer Internet Banks Scotiabank (National, 2010)

WORLD'S BEST EMERGING MARKET BANKS

2012:
  • COUNTRY WINNERS Scotiabank Barbados (National, 2012)
2011:
  • COUNTRY WINNERS Scotiabank Barbados (National, 2011)
2010:
  • COUNTRY WINNERS FirsCaribbean International (National, 2010)
2009:
  • COUNTRY WINNERS FirstCaribbean International (National, 2009)
ARTICLES AND COUNTRIES REPORTS FROM GLOBAL FINANCE ARCHIVE