Economy of Barbados

Imports

Imports commoditiesconsumer goods, machinery, foodstuffs, construction materials, chemicals, fuel, electrical components

Import partnersTrinidad and Tobago 35.9%, US 26.9%, China 5.6% (2012)

Exports

Exports commoditiesmanufactures, sugar and molasses, rum, other foods and beverages, chemicals, electrical components

Export partnersTrinidad and Tobago 20.8%, US 11.9%, St. Lucia 9.7%, St. Vincent and the Grenadines 6%, Jamaica 5.6%, Antigua and Barbuda 4.9%, St. Kitts and Nevis 4.6%, UK 4.4% (2012)

Economy sectors

Agriculture productssugarcane, vegetables, cotton

Industrial productstourism, sugar, light manufacturing, component assembly for export

Economy

Unemployment11.4 % (2013)11.6 % (2012)11.2 % (2011)

GDP - Official Exchange Rate4.26 Billion $ (2013)4.17 Billion $ (2012)4.37 Billion $ (2011)

GDP - Official Exchange Rate of Barbados

GDP growth rate-0.80 % (2013)0.00 % (2012)0.60 % (2011)

GDP per Capita (PPP)25,100 $ (2013)25,000 $ (2012)25,400 $ (2011)

GDP - Purchasing Power Parity7.00 Billion $ (2013)6.96 Billion $ (2012)7.04 Billion $ (2011)

GDP - Purchasing Power Parity of Barbados

GDP PPP per land area16.3 Million $ per square kilometer (2013)16.2 Million $ per square kilometer (2012)16.4 Million $ per square kilometer (2011)

Electricity

Electricity - installed generating capacity239 Thousand kW

Banking

Central bank discount rate7.00 % (2010)7.00 % (2009)10.0 % (2008)

Commercial bank prime lending rate8.50 % (2013)8.70 % (2012)8.70 % (2011)

Commercial bank prime lending rate of Barbados

GDP decomposition by sector

Agriculture % of GDP3.10 % (2013)3.10 % (2012)

Industry % of GDP13.9 % (2013)13.9 % (2012)

Services % of GDP83.0 % (2013)83.0 % (2012)

Tourism

International tourism, number of arrivals536 Thousand (2012)568 Thousand (2011)532 Thousand (2010)

Yearly Tourist arrivals to residents ratio186 % (2012)198 % (2011)190 % (2010)

Yearly Tourist arrivals to residents ratio of Barbados

Debt, Current Account Balance and Budget Deficit

Public debt (Percentage of GDP)90.5 % of GDP (2013)85.6 % of GDP (2012)79.2 % of GDP (2011)

Public debt (Percentage of GDP) of Barbados

Budget surplus (+) or deficit (-)-8.10 % of GDP

Current Account Balance (Percentage of GDP)-4.93 % of GDP (2010)-5.65 % of GDP (2009)-10.47 % of GDP (2008)

Current Account Balance (Percentage of GDP) of Barbados

Current Account Balance (Total)-276.60 Million $ (2013)-204.40 Million $ (2012)-358.50 Million $ (2011)

Current Account Balance (Total) of Barbados

External Debt (Total)4.49 Billion $ (2010)668 Million $ (2003)425 Million $ (2002)

External Debt (Percentage of GDP)113 % of GDP (2010)20.4 % of GDP (2003)13.4 % of GDP (2002)

External Debt (Percentage of GDP) of Barbados

External Debt per Capita16,013 $ (2010)2,466 $ (2003)1,577 $ (2002)