Skip to content
ChartBasis
Choose a language: English

Barbados

Headline economic indicators for Barbados, with the most recent official readings.

Prices

Prices — Barbados
Indicator Value Change
Inflation rate · 0.8% -0.60 (-41.5%)
Consumer price index · 146.5 +1.23 (+0.8%)
GDP deflator inflation · 2.7% +0.98 (+56.1%)

GDP

GDP — Barbados
Indicator Value Change
GDP growth rate · 2.7% -0.67 (-19.8%)
GDP per capita · 28,364.82 +1,468 (+5.5%)
GDP per capita, long-run history · 11,546 +1,159 (+11.2%)
GDP · 8,016,550,000 +418,978,550 (+5.5%)
GDP, PPP · 7,318,202,569 +386,568,196 (+5.6%)
GDP per capita, PPP · 25,894 +1,354 (+5.5%)
GDP per capita growth · 2.6% -0.68 (-20.4%)
GNI per capita · 27,080 +1,720 (+6.8%)
Agriculture to GDP · 1.6% -0.10 (-5.9%)
Industry to GDP · 12.2% -0.08 (-0.7%)
Manufacturing to GDP · 4.9% -0.20 (-3.9%)
Services to GDP · 75.8% +0.34 (+0.5%)

Labour

Labour — Barbados
Indicator Value Change
Unemployment rate · 6.5% +0.08 (+1.2%)
Labour force participation rate · 64.7% -0.29 (-0.4%)
Female labour force participation rate · 61.0% -0.34 (-0.6%)
Youth unemployment rate · 18.5% +0.43 (+2.4%)
Employment to population ratio · 60.5% -0.32 (-0.5%)
Employment in agriculture · 1.2% -0.06 (-4.3%)
Employment in industry · 16.2% -0.02 (-0.1%)
Employment in services · 82.6% +0.08 (+0.1%)

Money

Money — Barbados
Indicator Value Change
Real interest rate · 8.2% +2.21 (+36.8%)
Broad money to GDP · 97.5% -3.82 (-3.8%)
Private sector credit to GDP · 59.7% -1.33 (-2.2%)
Lending rate · 8.1% +0.00 (+0.0%)
Bank deposit rate · 0.1% -0.01 (-4.4%)
Stock market capitalization to GDP · 51.5% -3.64 (-6.6%)
Bank nonperforming loans · 5.8% -1.40 (-19.3%)
Official exchange rate · 2 +0.00 (+0.0%)

Trade

Trade — Barbados
Indicator Value Change
Current account to GDP · -5.1% +2.90 (+36.4%)
Trade balance, goods and services (annual) · 15,071,255.55 -156,828,622 (-91.2%)
Current account balance (annual) · -296,395,806.96 +155,994,498 (+34.5%)
Foreign direct investment to GDP · 3.4% -0.58 (-14.6%)
Remittances received to GDP · 1.5% -1.32 (-47.5%)
Total reserves, including gold · 1,653,675,115.41 +47,755,625 (+3.0%)
Reserves in months of imports · 1.3 -0.43 (-25.4%)

Government

Government — Barbados
Indicator Value Change
Government debt to GDP · 125.0% +7.79 (+6.6%)
Government revenue to GDP · 25.2% +3.11 (+14.1%)
Government expense to GDP · 28.8% -0.43 (-1.5%)
Tax revenue to GDP · 23.4% +2.38 (+11.3%)
Government budget balance to GDP · -4.1% +3.06 (+42.5%)
Education spending to GDP · 3.6% -0.22 (-5.8%)
Health spending to GDP · 5.4% -0.47 (-8.0%)

Demography

Demography — Barbados
Indicator Value Change
Population · 282,623 +156.00 (+0.1%)
Population, long-run history · 295 +0.46 (+0.2%)
Population growth · 0.1% +0.01 (+19.0%)
Life expectancy · 76.3 +0.15 (+0.2%)
Fertility rate · 1.71 +0.00 (+0.0%)
Birth rate · 11.1 -0.06 (-0.5%)
Death rate · 10.2 -0.38 (-3.6%)
Urban population share · 59.7% +0.16 (+0.3%)
Population aged 65 and over · 17.1% +0.54 (+3.2%)
Under-five mortality rate · 9.8 -0.30 (-3.0%)
Population density · 655.4 -1.22 (-0.2%)
Net migration · -87 -17.00 (-24.3%)
Gini index · 34.1 unchanged

Source: Bolt, J. and van Zanden, J.L. (2024), Maddison style estimates of the evolution of the world economy: A new 2023 update, Journal of Economic Surveys, 1-41, DOI 10.1111/joes.12618. Licensed under CC BY 4.0. The original sources are listed on each page.

All data sources

Original sources of these estimates

GDP pc: 2008 - 2022: Total Economy Database the Conference Board for all countries included in TED. Otherwise UN national accounts statistics

No separate list is published for Barbados; the database as a whole is cited above.

Economies nearby

Comparable readings from neighbouring economies.