Browse a full set of economic indicators


Includes historical data for Barbados’ Gross Domestic Product growth, debt-to-GDP ratio and more, as well as information on trade, banking and financial sector leadership.

Economy Transitions From Sugar To Financial Services

Historically reliant on sugarcane cultivation, over the past few decades this island of about 300,000 has invested in tourism, manufacturing and offshore financial services. As a member of CARICOM (Caribbean Community). Barbados is a middle-income country and the wealthiest in the Eastern Caribbean. Its strong institutions, the peg of its currency to theU.S. dollar, and its growing reputation as an international business hub have made this island an attractive destination for foreign direct investment (FDI).

However, challenges remain. Despite prioritizing investment initiatives in renewable energy, life sciences and technology, Barbados continues to rely heavily on tourism and to depend on imports for food and energy. High unemployment and income inequality, as well as vulnerability to climate change and natural disasters, remain concerns.

Macroeconomy & Sovereign Data

Type of Government Parliamentary democracy under a constitutional monarchy; a Commonwealth realm
Capital Bridgetown
Sovereign Ratings S&P: BB–
Moody’s: Ba3
Fitch: B+
Total Population 291,000
Median Age 39.9
Adult Per Capita Income (PPP) 19,642.26
Total GDP (2023) 6.9 billion

Barbados GDP & Economic Overview

Most Recent Content

Banking & Finance

Trade & Investment

Total Exports USD 1.7 billion (2023)
Leading Exports Rums And Liquors
Packaged Medicines
Paper Labels
Total Imports USD 344 million (2022)
Leading Imports Refined Petroleum
Crude Petroleum
Shipping Containers
Packaged Medicines
Source: World Integrated Trade Solution

Barbados Leading Companies

Sagicor Financial Corporation Financials, Insurance
Mount Gay Rum Distilleries Ltd. Consumer Staples, Distillers
Banks Holdings Limited (BHL) Beer & Breweries
Barbados Tourism Investment (BTI) Hotels, Restaurants & Leisure
Cable & Wireless Barbados Telecommunication Services
National Petroleum Corporation (NPC) Energy

Major Trade Partners — Import

United States 36%
China 16%
Mexico 13%
Guatemala 12%
Trinidad and Tobago 2%

Major Trade Partners — Export

Unspecified 21%
United States 19%
Jamaica 8%
Guyana 8%
Trinidad and Tobago 7%

Data Sources:

IMF World Economic Outlook

UN World Population Prospects

World Inequality Report

S&P Global Ratings


Fitch Ratings

IMF Direction of Trade Statistics (DOTS)

UN Conference on Trade and Development (UNCTAD)

CIA The World Factbook

World Bank’s World Integrated Trade Solution

Forbes Global 2000