Historically, the Barbadian economy had been dependent on sugarcane cultivation and related activities, but production in recent years has diversified into manufacturing and tourism. Offshore finance and information services are important foreign exchange earners, and there is also a light-manufacturing sector. The government continues its efforts to reduce unemployment, to encourage direct foreign investment, and to privatize remaining state-owned enterprises. The economy contracted in 2002 mainly due to a 3% decline in tourism. Growth should be positive in 2003, the precise level largely dependent on economic conditions in the US and Europe.
Agriculture Products
sugarcane, vegetables, cotton
Industries
tourism, sugar, light manufacturing, component assembly for export
Industrial Production Growth Rate
-3.2% (2000 est.)
Labor Force
128,500 (2001 est.)
Electricity production
780 million kWh (2001)
Electricity production by source
Fossil fuel: 100%
Hydro: 0%
Other: 0% (2001)
Nuclear: 0%
Electricity Consumption
725.4 million kWh (2001)
Electricity Exports
0 kWh (2001)
Electricity Imports
0 kWh (2001)
Currency
Barbadian dollar (BBD)
Unemployment Rate
10% (2001 est.)
Population Below Poverty Line
NA%
Household Income or Consumption by Percentage Share
Lowest 10%: NA%
Highest 10%: NA%
Budget
Revenues: $847 million (including grants)
Expenditures: $886 million, including capital expenditures of $NA (2000 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
$692 million (2002)
Stock of Direct Foreign Investment at Home
Stock of Direct Foreign Investment Abroad
Exchange Rates
Barbadian dollars per US dollar - 2 (2002), 2 (2001), 2 (2000), 2 (1999), 2 (1998)
