Central America and the Caribbean > Barbados > Economy

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Agriculture > products sugarcane, vegetables, cotton
Current account balance	-$254,000,000.00		[98th of 181]
Debt > External	$668,000,000.00		[112nd of 136]
Economic freedom	2.8		[24th of 156]
Economy > Overview 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.
Exchange rates Barbadian dollars per US dollar - 2 (2004), 2 (2003), 2 (2002), 2 (2001), 2 (2000)
Exports	$385,000,000.00		[160th of 189]
Exports to US	$6,500,000.00		[136th of 224]
GDP	$3,090,538,000.00		[135th of 203]
GDP (purchasing power parity)	$5,310,000,000.00		[154th of 187]
GDP > PPP	$4,254,000,000.00		[144th of 163]
GDP > Real growth rate	4.3%		[120th of 198]
GDP growth > annual %	2.59 annual %		[115th of 187]
Gross National Income	$2,613,990,000.00		[121st of 172]
Gross national income > constant LCU	1131612000
Human Development Index	0.878		[30th of 178]
Inflation rate (consumer prices)	5.5%		[86th of 192]
Stock exchange Barbados Stock Exchange
Total reserves minus gold > current US$	603,465,300 $		[118th of 178]
Tourist arrivals	472,000		[70th of 152]

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