Source
Central bank

Central Bank of Barbados

International Reserves

USD 0.43 billion (2016)

International Monetary Fund (IMF), data retrieved October 2019

Gross Domestic Product - GDP

USD 5.1 billion (2018, estimate)

GDP (Purchasing Power Parity)

Intl$ 5.3 billion (2018, estimate)

Real GDP growth
2007 2008 2009 2010 2011 2012 2013
1.9% 0.9% -4.9% -2.2% -0.8% -0.1% -1.4%
2014 2018 2016 2017 2018*    
-0.2% 2.2% 2.3% -0.3% -0.5%    

*Estimate

GDP per capita - current prices

USD 17,961.2 (2018, estimate)

GDP per capita - PPP

Intl$ 18,534.3 (2018, estimate)

GDP (PPP) - share of world total
1980 1990 2000 2010 2019*
0.01% 0.01% 0.01% 0.01% 0.004%

*Estimate

 
 
Source
GDP - composition by sector
  • agriculture: 1.5% 
  • industry: 9.8% 
  • services: 88.7%

(2017 estimate)

Gross domestic expenditure on R&D; (% of GDP)

N/A

 

Inflation
2015 2016 2017 2018* 2019*
-1.1% 1.5% 4.4% 3.7% 1.9%

*Estimate

Unemployment rate
2015 2016 2017 2018* 2019*
11.3% 9.7% 10% 10.1% 10.4%

*Estimate

Household saving rates

N/A

Public debt (General government gross debt as a % of GDP)
2015 2016 2017 2018 2019*
147% 149.5% 158.3% 125.7% 115.4%

*Estimate

Public deficit (General government net lending/borrowing as a % of GDP)
2015 2016 2017 2018 2019*
-9.1% -5.3% -4.3% -0.3% 3.3%

*Estimate

Government bond ratings

Standard & Poor's: SD

Moody's: Caa1

Standard & Poor's / Moody's 

Market value of publicly traded shares
2016 2017 2018

USD 3.1 billion

USD 3.4 billion

USD 3.5 billion
Largest companies

N/A

 
 
Source
Current account balance

USD -0.2 billion (2018 estimate)

Current account balance by percentage of GDP

-3.7 % (2018 estimate)

Exports as percent of GDP (Exports of goods and services)

38% (2017)

Shares in world total merchandising export

0.002% (2018)

Shares in world total commercial services export

0.02% (2018)

Total exports

USD 1.8 billion (2018)

Export commodities

Manufactures, sugar, molasses, rum, other foodstuffs and beverages, chemicals, electrical components

Total imports

USD 2.1 billion (2018 estimate)

 
 
Source
Import commodities

Consumer goods, machinery, foodstuffs, construction materials, chemicals, fuel, electrical components

Exports - major partners

US 38%, Trinidad and Tobago 10.2%, Guyana 5.5%, Jamaica 5%, China 4.8%, St. Lucia 4.6%(2017)

Imports - major partners

US 38.5%, Trinidad and Tobago 14.6%, China 7.1%, UK 4.7% (2017)

FDI inflows
2016 2017 2018
USD 230 million USD 286 million USD 195 million
FDI outflows
2016 2017 2018
USD -10 million USD -28 million USD 34 million
Value of cross-border M&A, by country of purchaser
2015 2016 2017 2018
N/A N/A N/A 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:

128 out of 190 countries

​Subcategories:
Starting a Business: 102 out of 190 countries
Dealing with Construction Permits: 153 out of 190 countries
Getting Electricity: 117 out of 190 countries
Registering Property: 118 out of 190 countries
Getting Credit: 152 out of 190 countries
Protecting Minority Investors: 136 out of 190 countries
Paying Taxes: 96 out of 190 countries
Trading across Borders: 132 out of 190 countries
Enforcing Contracts: 170 out of 190 countries
Resolving Insolvency: 35 out of 190 countries

Global competitiveness ranking

77 out of 141 countries

(2019)

 

Index of Economic Freedom

Ranking: 67 / Score: 64.7 (Moderately free)

(100=totally free 0=totally repressed)

 
 
Source
Time zone

UTC-4

Total area

430 sq km

Capital

Bridgetown

Currency

Barbadian dollars (BBD)

Government type

Parliamentary democracy 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 

Total population
1990 2000 2010 2015 2020*
0.26 million 0.27 million 0.28 million 0.28 million 0.29 million

*Estimate

 
 
Source
Urban population as % of total population
1960 1980 2000 2018
36.8% 40.1% 33.8% 31.1%
Population median age

38.9 years 

Population growth rate

0.26% (2018 estimate)

Life expectancy

75.7 years (2018 estimate)

Literacy

Total population: 99.6% 
Male: 99.6% 
Female: 99.6% 
Definition: age 15 and over can read and write (2014 est.)

% of population living on less than $3.10 a day

N/A

Inequality of wealth distribution (Gini index)

N/A

Freedom House rating

Free
Political Rights: 1
Civil Liberties: 1 (2019)
(1 represents the most free, 7 the least free rating)

Source
Total telephone subscribers as % of population

Fixed: 44.4%

Mobile: 122.6%

(2018)

(fixed-telephone subscribers and mobile-cellular subscribers)

Internet users as % of total population

81.76 % (2017)

Mercer Cost of living index

N/A

CO2 emissions

4.47 metric tons per capita (2014)

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