BEST BANKS 2014: LATIN AMERICA
While Latin American banks continued to expand their client base and footprints, the sector still faced important challenges.
Barbados GDP and Economic Data
Country Report 2017 - Includes Barbados real Gross Domestic Product growth rate, with latest forecasts and historical data, GDP per capita, GDP composition and breakdown by sector.
Browse additional economic indicators and data sets, selected by Global Finance editors, to learn more about Barbados economic outlook, debt to GDP ratio, international trade performance and population trends. Rankings of Barbados best banks and safest banks are also available.
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International Reserves
USD 0.6 billion (2015)
International Monetary Fund (IMF), data retrieved January 2017
Gross Domestic Product - GDP
USD 4.6 billion (2017, estimate)
GDP (Purchasing Power Parity)
Intl$ 5.0 billion (2017, estimate)
Real GDP growth
| 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 |
| 5.7% | 1.8% | 0.4% | -4% | 0.3% | 0.8% | 0.3% |
| 2013 | 2014 | 2015 | 2016* | 2017* | ||
| -0.1% | 0.2% | 0.9% | 1.7% | 1.7% |
*Estimate
GDP per capita - current prices
USD 16,514.4 (2017, estimate)
GDP (PPP) - share of world total
| 1980 | 1990 | 2000 | 2010 | 2017* |
| 0.01% | 0.01% | 0.01% | 0.01% | 0.004% |
*Estimate
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GDP - composition by sector
- agriculture: 2.8%
- industry: 11.7%
- services: 85.5%
(2016 estimate)
Inflation
| 2013 | 2014 | 2015 | 2016* | 2017* |
| 1.8% | 1.9% | -1.1% | 0.3% | 2.0% |
*Estimate
Unemployment rate
| 2013 | 2014 | 2015* | 2016* | 2017* |
| 11.6% | 12.3% | 11.3% | 9.7% | 9.6% |
*Estimate
Public debt (General government gross debt as a % of GDP)
| 2013 | 2014 | 2015 | 2016 | 2017* |
| 94.3% | 97.9% | 105% | 104.8% | 104.2% |
*Estimate
Public deficit (General government net lending/borrowing as a % of GDP)
| 2013 | 2014 | 2015 | 2016 | 2017* |
| -11.7% | -7.7% | -6.9% | -5.7% | -4.6% |
*Estimate
Government bond ratings
Standard & Poor's: B-
Moody's: Caa1
Standard & Poor's / Moody's (Updated January 2017)
Source
Market value of publicly traded shares
| 2013 | 2014 | 2015 |
| N/A | N/A | N/A |
Source
Current account balance by percentage of GDP
-6.0% (2017 estimate)
Exports as percent of GDP (Exports of goods and services)
37.3% (2015)
Shares in world total merchandising export
0.003% (2015)
Shares in world total commercial services export
0.03% (2015)
Export commodities
Manufactures, sugar, molasses, rum, other foodstuffs and beverages, chemicals, electrical components
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Import commodities
Consumer goods, machinery, foodstuffs, construction materials, chemicals, fuel, electrical components
Exports - major partners
Trinidad and Tobago 22.5%, US 11.8%, St. Lucia 9.2%, St. Vincent and the Grenadines 5.7%, Antigua and Barbuda 4.7%, St. Kitts and Nevis 4.4%, Guyana 4.2% (2015)
Imports - major partners
Trinidad and Tobago 39%, US 31.1% (2015)
FDI inflows
| 2013 | 2014 | 2015 |
| USD -35 million | USD 486 million | USD 254 million |
FDI outflows
| 2013 | 2014 | 2015 |
| USD 108 million | USD -22 million | USD 86 million |
Value of cross-border M&A, by country of purchaser
| 2012 | 2013 | 2014 | 2015 |
| N/A | N/A | USD -10.9 million | N/A |
Cross-border M&A deals worth over $3 billion completed in 2014
N/A
(for a monthly update on M&A; click here )
Cross-border M&A deals worth over $3 billion completed in 2015
N/A
(for a monthly update on M&A; click here )
Best countries for doing business
Economies are ranked on their ease of doing business. A high ease of doing business ranking means the regulatory environment is more conducive to the starting and operation of a local firm.
Overall ranking: 117 out of 190 countries (2016)
Subcategories:
Starting a business: 101 out of 190 countries
Enforcing Contracts: 167 out of 190 countries
Registering Property: 130 out of 190 countries
Getting credit: 133 out of 190 countries
Protecting investors: 165 out of 190 countries
Trading across border: 125 out of 190 countries
Paying Taxes: 85 out of 190 countries
Dealing with Construction Permits: 161 out of 190 countries
Getting Electricity: 93 out of 190 countries
Resolving Insolvency: 36 out of 190 countries
Source
Global competitiveness ranking
72 out of 138 countries
(2016-2017)
Index of Economic Freedom
Ranking: 45 / Score: 68.29 (Moderately free) (2017)
(100=totally free 0=totally repressed)
Source
Source
Government type
Parliamentary democracy (Parliament) under a constitutional monarchy; a Commonwealth realm
Languages
English (official), Bajan (English-based creole language, widely spoken in informal settings)
Religions
Protestant 66.4% (includes Anglican 23.9%, other Pentecostal 19.5%, Adventist 5.9%, Methodist 4.2%, Wesleyan 3.4%, Nazarene 3.2%, Church of God 2.4%, Baptist 1.8%, Moravian 1.2%, other Protestant 0.9%), Roman Catholic 3.8%, other Christian 5.4% (includes Jehovah's Witness 2.0%, other 3.4%), Rastafarian 1%, other 1.5%, none 20.6%, unspecified 1.2% (2010 est.)
Total population
| 1990 | 2000 | 2010 | 2016* | 2021* |
| 0.25 million | 0.269 million | 0.277 million | 0.28 million | 0.283 million |
*Estimate
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Urban population as % of total population
| 1960 | 1980 | 2000 | 2015 |
| 37% | 40% | 34% | 32% |
Freedom House rating
Political Rights: 1
Civil Liberties: 1 (2017)
(1 represents the most free, 7 the least free rating)
Source
Total telephone subscribers as % of population
Fixed 54.56% Mobile 116.46% (2015)
(fixed-telephone subscribers and mobile-cellular subscribers)