Skip to main content

The Caribbean Development Portal

From the United Nations Economic Commission for Latin America and the Caribbean (ECLAC)
Subregional Headquarters for the Caribbean
Port of Spain, Trinidad and Tobago

Home

Main menu

  • Home
  • Countries
  • Topics
  • Catalogue of Services

Barbados

Quick facts

CapitalBridgetown
LanguageEnglish
Population279,254
Land area431 km2
Density647.9 per km2
Governor GeneralSandra Mason
Prime MinisterMia Mottley

Estimated population

More about this graph...

Local media

Barbados Today
Broad Street Journal
CBC TV
Caribbean Superstation
Nation News
The Barbados Advocate
Voice of Barbados

Budget documents

Budget 2018
Budget 2017
Budget Estimates 2013-2014
Budget Speech 2013
Budget Speech 2012
Budget Estimates 2011-2012
Budget 2011
Budget 2010
Budget 2009
Budget 2008
Budget 2007
Budget 2006
Budget 2004

Official links

Government website
Statistical office website
The Barbados Parliament
BGIS Media
Central Bank of Barbados

Digital library documents

Barbados  •  Youth  •  Children

National Youth Policy of Barbados

by the Ministry of Family, Culture, Sports and Youth

Antigua and Barbuda  •  Barbados  •  Saint Kitts and Nevis

Drought characteristics and management in the Caribbean

Report conducted in partnership with the Robert B. Daugherty Water for Food Institute of the University of Nebraska

Barbados  •  Private Sector  •  Business

The Success Factors of Manufacturing Firms in Caribbean Small Island States

A Look at Barbados

Barbados  •  Belize  •  Trinidad and Tobago

Trade Trend Estimates

Latin America and the Caribbean, 2016

Barbados  •  Jamaica  •  Saint Kitts and Nevis

World Heritage properties inscribed for criteria directly linked to slavery and the slave routes

UNESCO

Barbados  •  Dominican Republic  •  Jamaica

Revenue Statistics in Latin America and the Caribbean, 1990-2013

Joint report of the OECD, ECLAC, CIAT and IDB

  • 1
  • 2
  • 3
  • next ›
  • last »

Economic overview

Since the onset of the global crisis in 2009, the Barbados economy has struggled to achieve growth, with a contraction of 1.2 per cent in 2013, after remaining flat with 0.0 per cent growth in 2012. This trend was sustained into the first quarter of 2014, when the economy further declined by 0.4 per cent. Underlying this enduring sluggishness is the continued underperformance of the tourism sector, the country’s main economic driver, with both long stay and cruise passenger arrivals falling by 1 per cent for the first quarter of 2014 compared to the same period in 2013. Significantly, overall tourist arrivals fell in spite of increases from its traditional source markets, the United Kingdom (8 per cent), and other European destinations (14 per cent), as arrivals from the United States and Canada fell by 8 per cent and 10 per cent, respectively.

Slow growth also resulted in an increased fiscal deficit from 7.3 per cent of GDP in 2012 to 11.3 per cent of GDP by the end of March 2014, as total revenue fell over the period. This led the Government to expand its fiscal consolidation measures over the short to medium term. While government expenditure remained largely unchanged at 41 per cent of GDP between 2012 and 2013, gross government debt to GDP increased from 85.7 per cent to 97.9 per cent.

Although there was a slight decline in imports, a sharper decline in exports resulted in a widening of the current account deficit between 2012 and 2013. Low tourism receipts along with a sharp decline in private capital inflows also placed pressures on international reserves, but this was eased by an injection of capital from additional borrowing.

The prevailing economic conditions were reflected in the trend in domestic inflation, which fell to 1.8 per cent from 4.5 per cent between 2012 and 2013. The unemployment rate also increased to 11.7 per cent as the Government’s retrenchment programme took effect.

Given the recent negative growth, the Government adopted a new growth and development strategy in order to stimulate a sustained economic recovery. Short to medium term challenges will continue to be the high fiscal deficit and a large public debt. The country has however shown maturity as it begins this economic adjustment, with all social partners fully committing to the process. Growth is expected to be 0.5 per cent for 2014, with a possible improvement to 2.0 per cent in 2015. (Economic Survey of the Caribbean 2014)

News from the web

Development Bank of Latin America to participate in Barbados development financing

Heat up on climate change

Budget will continue to stimulate economic growth, says Barbados finance minister

Be careful with pricing, SMEs told

Barbados committed to facilitating trade in goods and services

Jamaica trails Barbados and Trinidad for travel and tourism product -- report

Barbados to host CARICOM heads of government conference in July

IMF concludes visit to Barbados

US/Cuba ties: How Barbados can benefit

Sagicor considers banking expansion

  • « first
  • ‹ previous
  • …
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • next ›
  • last »
 
Anguilla
Antigua and Barbuda
Aruba
Bahamas
Barbados
Belize
Bermuda
British Virgin Islands
Cayman Islands
Cuba
Curaçao
Dominica
Dominican Republic
Grenada
Guadeloupe
Guyana
Haiti
Jamaica
Martinique
Montserrat
Puerto Rico
Saint Kitts and Nevis
Saint Lucia
Saint Vincent and the Grenadines
Sint Maarten
Suriname
Trinidad and Tobago
Turks and Caicos Islands
United States Virgin Islands

DISCLAIMER: Some resources listed and/or hyperlinked on this page may be from individuals, organisations and entities other than the United Nations and are provided for information purposes only. The hyperlinking of outside resources is not an endorsement by the United Nations of the views expressed therein nor does the United Nations have control over the content or accuracy of information provided. No editorial comment is implied by the omission of a resource or website.

Log in
  • Contact webmaster
  • Other ECLAC contacts
  • Copyright
  • Terms and conditions