Historically, the Barbadian economy had been dependent on sugarcane cultivation and related activities, but production in recent years has diversified into light industry and tourism. Offshore finance and information services are important foreign exchange earners. The government continues its efforts to reduce unemployment, to encourage direct foreign investment, and to privatize remaining state-owned enterprises. The economy contracted in 2002-03 mainly due to a decline in tourism. Growth was positive in 2005-06, as economic conditions in the US and Europe moderately improved.
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
953 million kWh (2005)
Electricity Consumption
886.3 million kWh (2005)
Electricity Exports
0 kWh (2005)
Electricity Imports
0 kWh (2005)
Unemployment Rate
10.7% (2003 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 (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
$5.513 billion (2005)
Reserves of Foreign Exchange and Gold
Debt External
$668 million (2003)
Stock of Direct Foreign Investment at Home
Stock of Direct Foreign Investment Abroad
Exchange Rates
Barbadian dollars per US dollar - 2 (2006), 2 (2005), 2 (2004), 2 (2003), 2 (2002)
