Ivan Kushnir

Economy of Barbados Ivan Kushnir

This book about the economy of Barbados from the 1970s to the 2010s. Source data from UN Data.

Size. In the 2010s, the GDP of Barbados was equal to $4.8 billion per year; the value of agriculture was $63.9 million; the value of manufacturing was $266.6 million. Since the share in the world is less than .01%, the country is classified as a micro economy.

Productivity. In the 2010s, the GDP per capita was $16 844.8, the value of agriculture per capita was $224.3, the value of manufacturing per capita was $935.9. Since the productivity is between the average and the average of above average, the economy is classified as developed.

Growth. In the 2010s, the growth of gross domestic product was -0.032%; the growth of agriculture was -0.46%; the growth of manufacturing was -1.7%.

Structure. In the 2010s, the economy of Barbados consisted of: services (46.3%), trade (24.2%), transportation (12.4%), industry (9.2%), construction (6.2%), and agriculture (1.5%).

Export and import. In the 2010s, the import was 20.1% higher than the export, the net import was equal to 7.6% of the GDP. The technological structure of export is better than the structure of import.

Consumption and reproduction. The attitude of reproduction to the consumption is better than the global average, so the share of GDP in the world will increase.