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    Barbados Index 2006

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    Barbados Economy - 2006
    https://theodora.com/wfbcurrent/barbados/barbados_economy.html
    SOURCE: 2006 CIA WORLD FACTBOOK

      Economy - overview:
      Historically, the Barbadian economy had been dependent on sugarcane cultivation and related activities, but production in recent years has diversified into light industry and tourism. Offshore finance and information services are important foreign exchange earners. The government continues its efforts to reduce unemployment, to encourage direct foreign investment, and to privatize remaining state-owned enterprises. The economy contracted in 2002-03 mainly due to a decline in tourism. Growth was positive in 2005, as economic conditions in the US and Europe moderately improved.

      GDP (purchasing power parity):
      $4.841 billion (2005 est.)

      GDP (official exchange rate):
      $2.977 billion (2005 est.)

      GDP - real growth rate:
      2.5% (2005 est.)

      GDP - per capita (PPP):
      $17,400 (2005 est.)

      GDP - composition by sector:
      agriculture: 6%
      industry: 16%
      services: 78% (2000 est.)

      Labor force:
      128,500 (2001 est.)

      Labor force - by occupation:
      agriculture: 10%
      industry: 15%
      services: 75% (1996 est.)

      Unemployment rate:
      10.7% (2003 est.)

      Population below poverty line:
      NA%

      Household income or consumption by percentage share:
      lowest 10%: NA%
      highest 10%: NA%

      Inflation rate (consumer prices):
      -0.5% (2003 est.)

      Budget:
      revenues: $847 million (including grants)
      expenditures: $886 million; including capital expenditures of $NA (2000 est.)

      Agriculture - products:
      sugarcane, vegetables, cotton

      Industries:
      tourism, sugar, light manufacturing, component assembly for export

      Industrial production growth rate:
      -3.2% (2000 est.)

      Electricity - production:
      819 million kWh (2003)

      Electricity - consumption:
      761.7 million kWh (2003)

      Electricity - exports:
      0 kWh (2003)

      Electricity - imports:
      0 kWh (2003)

      Oil - production:
      1,000 bbl/day (2003)

      Oil - consumption:
      10,000 bbl/day (2003 est.)

      Oil - exports:
      NA bbl/day

      Oil - imports:
      NA bbl/day

      Oil - proved reserves:
      1.254 million bbl (1 January 2002)

      Natural gas - production:
      29.17 million cu m (2003 est.)

      Natural gas - consumption:
      29.17 million cu m (2003 est.)

      Natural gas - exports:
      0 cu m (2001 est.)

      Natural gas - imports:
      0 cu m (2001 est.)

      Natural gas - proved reserves:
      141.6 million cu m (1 January 2002)

      Exports:
      $209 million (2004 est.)

      Exports - commodities:
      sugar and molasses, rum, other foods and beverages, chemicals, electrical components

      Exports - partners:
      US 20.6%, UK 14.5%, Trinidad and Tobago 13.9%, Saint Lucia 6.9%, Jamaica 6.6%, Saint Vincent and the Grenadines 5.1% (2004)

      Imports:
      $1.476 billion (2004 est.)

      Imports - commodities:
      consumer goods, machinery, foodstuffs, construction materials, chemicals, fuel, electrical components

      Imports - partners:
      US 35.2%, Trinidad and Tobago 20%, UK 5.6%, Japan 4.3% (2004)

      Debt - external:
      $668 million (2003)

      Economic aid - recipient:
      $9.1 million (1995)

      Currency (code):
      Barbadian dollar (BBD)

      Exchange rates:
      Barbadian dollars per US dollar - 2 (2005), 2 (2004), 2 (2003), 2 (2002), 2 (2001)

      Fiscal year:
      1 April - 31 March


      NOTE: The information regarding Barbados on this page is re-published from the 2006 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Barbados Economy 2006 information contained here. All suggestions for corrections of any errors about Barbados Economy 2006 should be addressed to the CIA.

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    https://theodora.com/wfbcurrent/barbados/barbados_economy.html

    Revised 06-Jun-06
    Copyright © 2006 Photius Coutsoukis (all rights reserved)


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