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 0.43 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 (PPP) - share of world total
| 1980 | 1990 | 2000 | 2010 | 2019* |
| 0.01% | 0.01% | 0.01% | 0.01% | 0.004% |
*Estimate
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GDP - composition by sector
- agriculture: 1.5%
- industry: 9.8%
- services: 88.7%
(2017 estimate)
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
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
Source
Market value of publicly traded shares
| 2016 | 2017 | 2018 |
|
USD 3.1 billion |
USD 3.4 billion |
USD 3.5 billion |
Source
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)
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
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
Source
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
Source
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
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Urban population as % of total population
| 1960 | 1980 | 2000 | 2018 |
| 36.8% | 40.1% | 33.8% | 31.1% |
Literacy
Total population: 99.6%
Male: 99.6%
Female: 99.6%
Definition: age 15 and over can read and write (2014 est.)
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)