Source
Central bank

Central Bank of Barbados

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 per capita - PPP

Intl$ 17,762.3 (2017, estimate)

GDP (PPP) - share of world total
1980 1990 2000 2010 2017*
0.01% 0.01% 0.01% 0.01% 0.004%

*Estimate

 
 
Source
GDP - composition by sector
  • agriculture: 2.8% 
  • industry: 11.7% 
  • services: 85.5%

(2016 estimate)

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

N/A

 

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

Household saving rates

N/A

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)

Market value of publicly traded shares
2013 2014 2015
N/A N/A N/A
Largest companies

N/A

 
 
Source
Current account balance

USD -0.3 billion (2017 estimate)

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)

Total exports

USD 466.7 millions (2016 estimate)

Export commodities

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

Total imports

USD 1.6 billion (2016 estimate)

 
 
Source
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

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
Time zone

UTC-4

Total area

430 sq km

Capital

Bridgetown

Currency

Barbadian dollars (BBD)

Government type

parliamentary democracy and a Commonwealth realm

Languages

English (official), Bajan (English-based creole language, widely spoken in informal settings)

Religions

Protestant 66.3% (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 .8%), 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 2014* 2019**
0.25 million 0.269 million 0.277 million 0.279 million 0.283 million

*Estimate    **Forecast

 
 
Source
Urban population as % of total population
1960 1980 2000 2013
36.8% 40% 34% 32%
Population median age

37.6 years (2014 est.)

Population growth rate

0.33% (2014 est.)

Life expectancy

74.99 years (2014 estimate)

Adult literacy

99.7% (2002 estimate)

% of population living on less than $2 a day

N/A

Inequality of wealth distribution (Gini index)

N/A

 

Freedom House rating

Political Rights: 1
Civil Liberties: 1 (2014)

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

Source
Total telephone subscribers as % of population

Fixed 52.3% Mobile 108.1%
(2013)
(fixed-telephone subscribers and mobile-cellular subscribers)

Internet users as % of total population

75.00% (2013)

Cost of living - Mercer 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)

5.4 (2010)

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World's Best Banks

2013

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