Economy — Barbados
GDP, employment, industries, public finance, and currency.
Profile updated 2026-06-02
⚡ Economy at a glance
GDP, employment, industries, public finance, and currency. Key figure for Barbados: Barbados is the wealthiest and one of the most developed countries in the Eastern Caribbean and enjoys one of the highest per capita incomes in the region. Historically, the Barbadian economy was dependent on sugarcane cultivation and related activities. However, in recent years the economy has diversified into li…
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Economic overview
- Economic Overview
Barbados is the wealthiest and one of the most developed countries in the Eastern Caribbean and enjoys one of the highest per capita incomes in the region.
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.
Offshore finance and information services are important foreign exchange earners, boosted by being in the same time zone as eastern US financial centers and by a relatively highly educated workforce.
Following the 2008-09 recession, external vulnerabilities such as fluctuations in international oil prices have hurt economic growth, raised Barbados' already high public debt to GDP ratio - which stood at 105% of GDP in 2016 - and cut into its international reserves.
- Industries
Tourism, sugar, light manufacturing, component assembly for export
- GDP - per capita (PPP)
$17,200.00 (USD)
- GDP - real growth rate
1.7%
GDP & growth
- GDP - Gross Domestic Product (PPP)
$3,700,000,000 (USD)
- GDP Per Capita
$17,200.00 (USD)
- GDP - real growth rate
1.7%
- GDP - official exchange rate
$4,473,000,000 (USD)
- GDP - composition, by end use
- Household Consumption: 82.5%
- Government Consumption: 14.3%
- Investment in Fixed Capital: 14.4%
- Investment in Inventories: 3.2%
- Exports of Goods and Services: 35.1%
- Imports of Goods and Services: -49.5%
- GDP by Sector- agriculture
2.8%
- GDP by Sector- Industry
11.7%
- GDP by Sector- services
85.5%
- Industrial Growth Rate
-1%
Prices & money
- Inflation Rate
1.3%
- Exchange Rate per US Dollar
2
- Currency Name and Code
Barbadian dollars (BBD)
- Fiscal Year
1 April - 31 March
- Commercial Bank Prime Lending Rate
8.1%
Employment & labor
- Labor Force
142,500
- Unemployment Rate
11%
- Major Industries
Tourism, sugar, light manufacturing, component assembly for export
- Agriculture Products
Sugarcane, vegetables, cotton
Public finance
- Annual Budget
$1,200,000,000 (USD)
- Public Debt (% of GDP)
108.9%
- Budget Surplus or Deficit - percent of GDP
-6.7%
- Taxes and other revenues - percent of GDP
26.8%