Historically, the Barbadian economy had been dependent on sugarcane cultivation and related activities, but production in recent years has diversified into manufacturing and tourism. The start of the Port Charles Marina project in Speightstown helped the tourism industry continue to expand in 1996-99. Offshore finance and informatics are important foreign exchange earners, and there is also a light manufacturing sector. The government continues its efforts to reduce the unacceptably high unemployment rate, encourage direct foreign investment, and privatize remaining state-owned enterprises.
Agriculture Products
sugarcane, vegetables, cotton
Industries
tourism, sugar, light manufacturing, component assembly for export
Industrial Production Growth Rate
0.8% (1996)
Labor Force
136,000 (1998 est.)
Electricity production
672 million kWh (1998)
Electricity production by source
Fossil fuel: 100%
Hydro: 0%
Nuclear: 0%
Other: 0% (1998)
Electricity Consumption
625 million kWh (1998)
Electricity Exports
0 kWh (1998)
Electricity Imports
0 kWh (1998)
Currency
1 Barbadian dollar (Bds$) = 100 cents
Unemployment Rate
12% (1998 est.)
Population Below Poverty Line
NA%
Household Income or Consumption by Percentage Share
Lowest 10%: NA%
Highest 10%: NA%
Budget
Revenues: $725.5 million
Expenditures: $750.6 million, including capital expenditures of $126.3 million (FY97/98 est.)
Commercial Bank Prime Lending Rate
Stock of Narrow Money
Stock of Broad Money
Stock of Domestic Credit
Market Value of Publicly Traded Shares
Reserves of Foreign Exchange and Gold
Debt External
$550 million (1998 est.)
Stock of Direct Foreign Investment at Home
Stock of Direct Foreign Investment Abroad
Exchange Rates
Barbadian dollars (Bds$) per US$1 - 2.0000 (fixed rate pegged to the US dollar)
