Economy - overview:
Historically, the Barbadian economy was dependent on sugarcane cultivation and related activities. However, in recent years the economy has diversified into light industry and tourism with about three-quarters of GDP and 80% of exports being attributed to services. Growth has rebounded since 2003, bolstered by increases in construction projects and tourism revenues, reflecting its success in the higher-end segment, but the sector faced declining revenues in 2009 with the global economic downturn. The country enjoys one of the highest per capita incomes in the region. Offshore finance and information services are important foreign exchange earners and thrive from having the same time zone as eastern US financial centers and a relatively highly educated workforce. The government continues its efforts to reduce unemployment, to encourage direct foreign investment, and to privatize remaining state-owned enterprises. The public debt-to-GDP ratio rose to over 100% in 2009-11, largely because a sharp slowdown in tourism and financial services led to a wide budget deficit.
GDP (purchasing power parity): GDP (official exchange rate): GDP - real growth rate: GDP - per capita (PPP): GDP - composition by sector: Labor force: Labor force - by occupation: Unemployment rate: Population below poverty line: Household income or consumption by percentage share: Investment (gross fixed): Budget: Taxes and other revenues: Budget surplus (+) or deficit (-): Public debt: Inflation rate (consumer prices): Central bank discount rate: Commercial bank prime lending rate: Stock of narrow money: Stock of broad money: Stock of domestic credit: Market value of publicly traded shares: Agriculture - products: Industries: Industrial production growth rate: Electricity - production: Electricity - consumption: Electricity - exports: Electricity - imports: Oil - production: Oil - consumption: Oil - exports: Oil - imports: Natural gas - production: Natural gas - consumption: Natural gas - exports: Natural gas - imports: Natural gas - proved reserves: Current account balance: Exports: Exports - commodities: Exports - partners: Imports: Imports - commodities: Imports - partners: Reserves of foreign exchange and gold: Debt - external: Exchange rates:
NOTE: 1) The information regarding Barbados on this page is re-published from the 2012 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Barbados Economy 2012 information contained here. All suggestions for corrections of any errors about Barbados Economy 2012 should be addressed to the CIA.
$6.528 billion (2011 est.)
country comparison to the world: 154
note: data are in 2011 US dollars
[see also: GDP country ranks ]
$4.4 billion (2011 est.)
[see also: GDP (official exchange rate) country ranks ]
1.8% (2011 est.)
country comparison to the world: 157
[see also: GDP - real growth rate country ranks ]
$23,600 (2011 est.)
country comparison to the world: 56
note: data are in 2011 US dollars
[see also: GDP - per capita country ranks ]
agriculture: 3.4%
[see also: GDP - composition by sector - agriculture country ranks ]
industry: 13.4%
[see also: GDP - composition by sector - industry country ranks ]
services: 83.2% (2011 est.)
[see also: GDP - composition by sector - services country ranks ]
175,000 (2007 est.)
country comparison to the world: 175
[see also: Labor force country ranks ]
agriculture: 10%
[see also: Labor force - by occupation - agriculture country ranks ]
industry: 15%
[see also: Labor force - by occupation - industry country ranks ]
services: 75% (1996 est.)
[see also: Labor force - by occupation - services country ranks ]
10.7% (2003 est.)
country comparison to the world: 115
[see also: Unemployment rate country ranks ]
NA%
[see also: Population below poverty line country ranks ]
lowest 10%: NA%
[see also: Household income or consumption by percentage share - lowest 10% country ranks ]
highest 10%: NA%
[see also: Household income or consumption by percentage share - highest 10% country ranks ]
27.7% of GDP (2011 est.)
country comparison to the world: 43
[see also: Investment (gross fixed) country ranks ]
revenues: $1.25 billion (including grants)
[see also: Budget revenues country ranks ]
expenditures: $1.5 billion (2011 est.)
[see also: Budget expenditures country ranks ]
28.4% of GDP (2011 est.)
country comparison to the world: 98
[see also: Taxes and other revenues country ranks ]
-5.7% of GDP (2011 est.)
country comparison to the world: 163
[see also: Budget surplus (+) or deficit (-) country ranks ]
103.9% of GDP (2011 est.)
country comparison to the world: 11
[see also: Public debt country ranks ]
7.4% (2011 est.)
country comparison to the world: 156
[see also: Inflation rate (consumer prices) country ranks ]
7% (31 December 2010 est.)
country comparison to the world: 45
[see also: Central bank discount rate country ranks ]
8.5% (31 December 2011 est.)
country comparison to the world: 118
[see also: Commercial bank prime lending rate country ranks ]
$1.979 billion (31 December 2011 est.)
country comparison to the world: 124
[see also: Stock of narrow money country ranks ]
$6.022 billion (31 December 2011 est.)
country comparison to the world: 121
[see also: Stock of broad money country ranks ]
$5.572 billion (31 December 2011 est.)
country comparison to the world: 112
[see also: Stock of domestic credit country ranks ]
$4.366 billion (31 December 2010)
country comparison to the world: 85
[see also: Market value of publicly traded shares country ranks ]
sugarcane, vegetables, cotton
tourism, sugar, light manufacturing, component assembly for export
-3.2% (2000 est.)
country comparison to the world: 160
[see also: Industrial production growth rate country ranks ]
1.011 billion kWh (2008 est.)
country comparison to the world: 146
[see also: Electricity - production country ranks ]
945 million kWh (2008 est.)
country comparison to the world: 147
[see also: Electricity - consumption country ranks ]
0 kWh (2009 est.)
[see also: Electricity - exports country ranks ]
0 kWh (2009 est.)
[see also: Electricity - imports country ranks ]
738.5 bbl/day (2010 est.)
country comparison to the world: 106
[see also: Oil - production country ranks ]
9,000 bbl/day (2010 est.)
country comparison to the world: 154
[see also: Oil - consumption country ranks ]
0 bbl/day (2009 est.)
country comparison to the world: 150
[see also: Oil - exports country ranks ]
8,684 bbl/day (2009 est.)
country comparison to the world: 143
[see also: Oil - imports country ranks ]
0 cu m (2009 est.)
country comparison to the world: 151
[see also: Natural gas - production country ranks ]
0 cu m (2009 est.)
country comparison to the world: 150
[see also: Natural gas - consumption country ranks ]
0 cu m (2009 est.)
country comparison to the world: 56
[see also: Natural gas - exports country ranks ]
0 cu m (2009 est.)
country comparison to the world: 154
[see also: Natural gas - imports country ranks ]
113.3 million cu m (1 January 2011 est.)
country comparison to the world: 102
[see also: Natural gas - proved reserves country ranks ]
-$417.8 million (2011 est.)
country comparison to the world: 104
[see also: Current account balance country ranks ]
$467.4 million (2011 est.)
country comparison to the world: 174
[see also: Exports country ranks ]
manufactures, sugar and molasses, rum, other foods and beverages, chemicals, electrical components
Brazil 16.8%, Trinidad and Tobago 16.8%, US 8.8%, St. Lucia 7.8%, Venezuela 5.4%, St. Vincent and the Grenadines 4.8% (2010)
$1.601 billion (2011 est.)
country comparison to the world: 166
[see also: Imports country ranks ]
consumer goods, machinery, foodstuffs, construction materials, chemicals, fuel, electrical components
Trinidad and Tobago 32.5%, US 24.7%, Colombia 5.8%, China 4.4% (2010)
$620 million (2007)
country comparison to the world: 147
[see also: Reserves of foreign exchange and gold country ranks ]
$668 million (2003)
country comparison to the world: 161
[see also: Debt - external country ranks ]
Barbadian dollars (BBD) per US dollar -
2) The rank that you see is the CIA reported rank, which may habe the following issues:
a) They assign increasing rank number, alphabetically for countries with the same value of the ranked item, whereas we assign them the same rank.
b) The CIA sometimes assignes counterintuitive ranks. For example, it assigns unemployment rates in increasing order, whereas we rank them in decreasing order
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This page was last modified 07-Mar-12