Historically, the Barbadian economy was dependent on sugarcane cultivation and related activities. However, production in recent years has diversified into light industry and tourism, with about three-quarters of GDP and 80% of exports being attributed to services. Growth has rebounded since 2003, bolstered by increases in construction projects and tourism revenues - reflecting its success in the higher-end segment. The country enjoys one of the highest per capita incomes in the region and an investment grade rating which benefits from its political stability and stable institutions. Offshore finance and information services are important foreign exchange earners and thrive from having the same time zone as eastern US financial centers and a relatively highly educated workforce. The government continues its efforts to reduce unemployment, to encourage direct foreign investment, and to privatize remaining state-owned enterprises.
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
1.003 billion kWh (2007 est.)
Electricity Consumption
939.9 million kWh (2007 est.)
Electricity Exports
0 kWh (2007 est.)
Electricity Imports
0 kWh (2007 est.)
Unemployment Rate
10.7% (2003 est.)
Population Below Poverty Line
Household Income or Consumption by Percentage Share
Lowest 10%: NA%
Highest 10%: NA%
Budget
Revenues: $847 million (including grants)
Expenditures: $886 million (2000 est.)
Central Bank Discount Rate
12% (31 December 2007)
Commercial Bank Prime Lending Rate
Stock of Narrow Money
Stock of Broad Money
Stock of Domestic Credit
$3.533 billion (31 December 2007)
Market Value of Publicly Traded Shares
$5.513 billion (2005)
Reserves of Foreign Exchange and Gold
$620 million (2007)
Debt External
$668 million (2003)
Stock of Direct Foreign Investment at Home
Stock of Direct Foreign Investment Abroad
Exchange Rates
Barbadian dollars (BBD) per US dollar - NA (2007), 2 (2006), 2 (2005), 2 (2004), 2 (2003)
