This page has economic forecasts for Barbados including a long-term outlook for the next decades, plus medium-term expectations for the next four quarters and short-term market predictions for the next release affecting the Barbados economy.


GDP Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
GDP Annual Growth Rate 1.00
percent
0.7 0.9 0.9 0.9 0.8
GDP 4.80
USD Billion
4.8 5 5 5 5
GDP Per Capita Ppp 16978.07
USD
17159 17450 17450 17450 17900
GDP per capita 16503.48
USD
16200 16550 16550 16550 16250
LABOUR Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Unemployment Rate 8.20
percent
10.2 8.2 7.9 8.1 9.5
Unemployed Persons 16.60
Thousand
16.9 17.6 18 18.4 18.5
Labor Force Participation Rate 65.90
percent
65.88 65.4 65.63 65.88 65.58
Employed Persons 130.90
Thousand
131 129 131 130 130
PRICES Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Inflation Rate 4.90
percent
5 4.8 4.8 4.7 4.5
Food Inflation 0.40
percent
6.9 7 7.3 6.5 7.1
Consumer Price Index Cpi 185.10
Index Points
194 192 193 194 213
MONEY Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Interest Rate 2.93
percent
3.2 3.4 3.4 3.6 4
Deposit Interest Rate 0.35
percent
0.62 0.82 0.82 1.02 1.42
Foreign Exchange Reserves 433065.73
BDS Million
432810 432002 431878 431941 431973
TRADE Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Balance of Trade -212306.00
BDS Thousand
-200067 -199999 -200026 -200018 -200020
Exports 81028.00
BDS Thousand
83577 83576 83576 83576 83576
Imports 293334.00
BDS Thousand
283691 283575 283603 283595 283596
Tourist Arrivals 54860.00
67000 68000 68500 68900 69000
Crude Oil Production 1.00
BBL/D/1K
1 1 1 1 1
Current Account -407.40
BDS Millions
-540 -530 -535 -540 -550
Current Account To GDP -4.40
percent
-3.6 -3.8 -3.8 -3.8 -3.5
GOVERNMENT Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Government Budget -4.20
percent of GDP
-6.7 -5.6 -5.6 -5.6 -5.8
BUSINESS Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Industrial Production -4.70
percent
-2.6 -2.5 -2.7 -2.6 -2.4
Internet Speed 6709.63
KBps
7169 7280 7344 7409 7823
IP Addresses 48577.00
IP
44080 46211 44308 46229 44587
Manufacturing Production -8.60
percent
-0.35 0.28 0.32 0.28 0.22
Mining Production 2.00
percent
-0.14 -0.21 -0.25 -0.27 -0.29
Ease Of Doing Business 129.00
126 126 125 125 123
Corruption Index 68.00
Points
68 68 68 68 68
Corruption Rank 25.00
25 25 25 25 25
Competitiveness Index 4.19
Points
4.69 4.69 4.69 4.69 7.19
Competitiveness Rank 72.00
72 72 72 72 72
TAXES Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Personal Income Tax Rate 33.50
percent
33.5 33.5 33.5 33.5 33.5
Corporate Tax Rate 25.00
percent
25 25 25 25 25
Sales Tax Rate 17.50
percent
17.5 17.5 17.5 17.5 17.5
Social Security Rate 21.35
percent
21.35 21.35 21.35 21.35 21.35
Social Security Rate For Companies 11.25
percent
11.25 11.25 11.25 11.25 11.25
Social Security Rate For Employees 10.10
percent
10.1 10.1 10.1 10.1 10.1
CLIMATE Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Temperature 26.80
celsius
26.47 25.4 27.21 27.24 27.11
Precipitation 125.42
mm
209 103 188 188 178



Barbados - Forecast - 2018-2020