Barbados

Description of Barbados

Barbados, a vibrant island nation in the Caribbean, is a unique blend of rich history, stunning natural beauty, and a thriving economy. Known for its pristine beaches, warm hospitality, and diverse culture, Barbados stands out as a gem in the Caribbean region. As a key player in international business and tourism, Barbados offers a strategic location and a stable political environment for investment and growth. Join us as we explore the economic, social, and cultural landscapes of Barbados and delve into the factors that shape this dynamic country's trajectory on the global stage.

Population And Age Structure

Barbados has a total population of 280,693, which is significantly below the average population of 40,097,746. The country ranks 173 out of 194 countries in terms of population.

The percentage of population ages 0-14 in Barbados is 17.37%, below the average of 27.34%. This places Barbados at the 148th rank out of 194 countries.

Barbados has a total of 48,765 children aged 0-14, far below the average total of 10,327,380. This ranks Barbados 174th out of 194 countries.

With 67.47% of its population aged 15-64, Barbados exceeds the global average of 63.44%. This places Barbados at the 46th rank out of 194 countries.

Barbados has a total of 189,385 individuals in the age group of 15-64, well below the average of 26,003,407. The country ranks 172nd out of 194 countries.

The percentage of the population in Barbados aged 65 and above is 15.16%, significantly above the average of 9.22%. This ranks Barbados at 46th out of 194 countries.

Barbados has 42,543 individuals aged 65 and above, well below the average of 3,766,959. The country ranks 164th out of 194 countries in this category.

Summary

Barbados has a smaller overall population compared to the global average, with a significantly lower number of children aged 0-14 and individuals aged 65 and above. However, the country has a higher percentage of individuals in the working-age group of 15-64 compared to the average, indicating a potentially productive workforce. These demographics are vital as they impact the country's dependency ratio, healthcare needs, labor force composition, and potential economic productivity.

Population Miscellaneous

Barbados has a rural population of 193,142, which is significantly below the average rural population of 18,044,041. Barbados ranks 163rd out of 190 countries in terms of rural population.

The percentage of rural population in Barbados is 68.809%, much higher than the average of 41.158%. This places Barbados at 30th out of 190 countries in terms of rural population percentage.

Barbados has an urban population of 87,551, well below the average urban population of 22,425,747. The country ranks 172nd out of 194 countries in urban population.

The urban population percentage in Barbados is 31.191%, lower than the average of 59.691%. Barbados ranks 165th out of 194 countries in urban population percentage.

The age dependency ratio in Barbados is 48.213%, below the average of 59.219%. This places Barbados at the 149th rank out of 194 countries in terms of age dependency ratio.

Barbados has a crude birth rate of 10.859 per 1,000 people, which is lower than the average of 19.384. The country ranks 145th out of 192 countries in crude birth rate.

The crude death rate in Barbados is 8.973 per 1,000 people, slightly above the average of 8.214. Barbados ranks 62nd out of 192 countries in terms of crude death rate.

Barbados has a total fertility rate of 1.628 births per woman, which is below the average of 2.603. The country ranks 135th out of 190 countries in total fertility rate.

Summary

Barbados stands out for having a significantly higher percentage of rural population compared to the global average, indicating a unique demographic distribution in the country. Despite having a lower urban population percentage, Barbados has a relatively low age dependency ratio, pointing towards a potentially more economically active population. Moreover, Barbados's lower crude birth rate and total fertility rate, along with a slightly elevated crude death rate, suggest a demographic trend towards an aging population, which could have implications for future healthcare and retirement planning in the country.

Military

Barbados has a total of 1000 armed forces personnel, which is significantly below the average of 165,908. Barbados ranks 160 out of 164 countries in this attribute.

Regarding the percentage of armed forces personnel in the total labor force, Barbados has a value of 0.71%, below the average of 1.28%. Barbados ranks 92 out of 164 countries in this metric.

Summary

Barbados has a relatively small number of armed forces personnel compared to the global average, ranking 160th out of 164 countries in total armed forces personnel. Additionally, the percentage of armed forces personnel in the total labor force in Barbados is below the average, with a ranking of 92nd out of 164 countries in this aspect. These findings indicate that Barbados may have a limited military presence and a smaller allocation of resources towards defense compared to other nations. This could impact the country's ability to respond to security threats or participate in international peacekeeping efforts effectively.

Natural Resources

Barbados has a forest area of 63 sq. km, significantly below the attribute average of 211,606. Barbados ranks 180 out of 191 countries in terms of forest area.

The land area of Barbados is 430 sq. km, well below the average of 665,166. Barbados ranks 182 out of 194 countries in land area.

Barbados has a surface area of 430 sq. km, also notably lower than the average of 689,779. Barbados ranks 182 out of 194 countries in surface area.

With 7,000 hectares of arable land, Barbados falls far below the average of 7,329,543 hectares. Barbados ranks 170 out of 190 countries in arable land.

Barbados has 31 hectares of land under cereal production, significantly less than the average of 4,206,012 hectares. Barbados ranks 171 out of 174 countries in this category.

Barbados experiences an average precipitation depth of 1422 mm per year, above the average of 1157. Barbados ranks 61 out of 178 countries in this aspect.

Regarding renewable internal freshwater resources, Barbados has 0.08 billion cubic meters, far below the average of 240. Barbados ranks 172 out of 178 countries in this regard.

Summary

Barbados displays below-average indicators in various key macroeconomic factors such as forest area, land area, arable land, land under cereal production, and renewable internal freshwater resources. These statistics highlight Barbados' limited natural resources and land availability compared to global averages, impacting its agricultural productivity, environmental sustainability, and water security. Addressing these disparities is crucial for Barbados' sustainable development, resource management, and resilience to climate change.

Resource Rents

Total natural resources rents (% of GDP): Barbados has a value of 0.14, which is significantly below the average of 4.63. This places Barbados at rank 144 out of 175 countries included in the data.

Forest rents (% of GDP): Barbados has a value of 0.01 for this attribute, well below the average of 1.53. This places Barbados at rank 147 out of 174 countries.

Oil rents (% of GDP): Barbados shows a value of 0.12, far below the average of 2.51. Barbados ranks 65 out of 117 countries for this metric.

Natural gas rents (% of GDP): Barbados has a value of 0.01, which is significantly lower than the average of 1.25. Barbados ranks 75 out of 96 countries on this indicator.

Summary

Barbados demonstrates relatively low values across key natural resources rents indicators compared to global averages, positioning the country at relatively lower ranks among included nations. These statistics indicate that Barbados has limited dependence on natural resource extraction as a source of GDP compared to many other countries. This suggests that the country may rely more heavily on other sectors for economic growth and development, which could impact its economic stability and resilience in the face of global commodity market fluctuations.

Commodities

- Cereal production (metric tons): Barbados's production of 86 metric tons is significantly below the average of 17,249,945.93 metric tons, placing the country at rank 172 out of 174 countries. - Aquaculture production (metric tons): With a production of 25.5 metric tons, Barbados falls far below the average of 679,642.92 metric tons, ranking 157 out of 180 countries. - Capture fisheries production (metric tons): Barbados's production of 1,033.75 metric tons is notably lower than the average of 467,453.06 metric tons, ranking the country at 169 out of 190 countries. - Total fisheries production (metric tons): The country's production of 1,059.25 metric tons is considerably lower than the average of 1,153,914.85 metric tons, placing Barbados at rank 175 out of 182 countries. - Fertilizer consumption (kilograms per hectare of arable land): Barbados's consumption of 50.59 kilograms per hectare is below the average of 159.04 kilograms per hectare, positioning the country at rank 120 out of 187 countries.

Summary

Barbados significantly underperforms in key agricultural indicators such as cereal production, aquaculture production, capture fisheries production, total fisheries production, and fertilizer consumption compared to global averages. These low production levels indicate potential challenges in achieving food security, economic growth, and sustainability in the agricultural sector, emphasizing the need for increased investment, modernization, and efficiency improvements in Barbados's agriculture industry.

Intellectual Property

Barbados had 29 patent applications from residents, significantly below the average of 19,037.56. This ranks Barbados 87th out of 117 countries for this attribute.

For trademark applications by nonresidents, Barbados had 752 applications, below the average of 15,878.93. This places Barbados at 115th out of 130 countries for this metric.

Barbados had 147 trademark applications by residents, well below the average of 111,055.78. This puts Barbados at 117th out of 129 countries in this category.

In scientific and technical journal articles, Barbados had 67.79 publications, significantly lower than the average of 15,103.76. This ranks Barbados 139th out of 192 countries for this attribute.

Summary

Barbados falls below the global averages for patent applications by residents, trademark applications by both residents and nonresidents, and scientific and technical journal articles. These statistics suggest a relatively lower level of innovation and intellectual property activity within Barbados compared to the global standards. This could impact the country's competitiveness, economic growth, and ability to attract foreign investment and talent.

Broad Economy Attributes

Barbados has a GDP (current US$) of 4,738,800,000, which is significantly below the average of 442,870,224,838.68, ranking 151 out of 189 countries. Their GDP, PPP (current international $) of 4,150,981,744.44 is also well below the average of 734,141,122,350.78, ranking 159 out of 181 countries.

Barbados' GDP per capita (current US$) stands at 16,882.50, slightly above the average of 15,462.11. This places them at rank 48 out of 190 countries. In terms of GDP per capita, PPP (current international $), Barbados performs below average with 14,788.33 compared to the average of 21,251.89, ranking 80 out of 181 countries.

Looking at GNI (current US$), Barbados's value of 4,664,800,000 falls below the average of 452,040,815,370.70, positioning them at rank 149 out of 185 countries. Similarly, in GNI, PPP (current international $), Barbados performs below average with a value of 4,086,160,977.77 compared to the average of 730,698,223,823.47, ranking 159 out of 181 countries.

Lastly, in GNI per capita, PPP (current international $), Barbados' value of 14,560 is below the average of 20,615.75, placing them at rank 79 out of 181 countries.

Summary

Barbados shows below-average performance in key macroeconomic indicators such as GDP, GDP per capita, GNI, and GNI per capita compared to global averages. This indicates a relatively weaker economic position for Barbados compared to a broader range of countries. These statistics are crucial as they reflect Barbados' economic health, standard of living, and overall development level in comparison to other nations.

Broad Value Added

Barbados has a Gross value added at basic prices (GVA) of approximately $4.07 billion, significantly below the average of $360.07 billion, ranking 143 out of 176 countries in the dataset. Agriculture, forestry, and fishing value added (% of GDP) is at 1.93%, lower than the average of 10.86%, ranking Barbados 149 out of 182 countries. The country's Agriculture, forestry, and fishing value added in current US dollars is $91.55 million, substantially below the average of $19.92 billion, placing Barbados at rank 165 out of 182 countries.

Barbados has a Services value added (% of GDP) of 73.00%, above the average of 56.72%, ranking 13 out of 183 countries. In terms of the Services value added in current US dollars, Barbados stands at $3.46 billion, below the average of $295.84 billion, ranking 146 out of 183 countries. Finally, the Industry (including construction) value added in current US dollars for Barbados is $612.40 million, significantly lower than the average of $118.42 billion, positioning Barbados at rank 156 out of 183 countries.

Summary

Barbados exhibits a relatively low Gross Value Added at basic prices (GVA), Agriculture, forestry, and fishing value added (% of GDP), and Agriculture, forestry, and fishing value added in current US dollars, placing it below average and ranking poorly among countries in the dataset. However, the country excels in Services value added (% of GDP) and Services value added in current US dollars, surpassing the average and ranking significantly higher. The contrast in these indicators highlights Barbados' heavy reliance on the services sector for economic output, indicating a potential imbalance in its economic structure that may have implications for long-term sustainability and diversification efforts.

Manufacturing Value Added

Barbados' Manufacturing, value added (current US$) is $242,050,000, significantly below the average of $76,207,179,589.66. Barbados ranks 146th out of 173 countries in this attribute.

Manufacturing, value added (% of GDP) in Barbados is 5.11%, lower than the average of 11.90%. Barbados ranks 146th out of 173 countries in this attribute.

Barbados excels in Medium and high-tech manufacturing value added (% manufacturing value added) with a value of 38.11%, surpassing the average of 24.49%. Barbados ranks 36th out of 149 countries in this attribute.

Summary

Barbados exhibits a lower-than-average Manufacturing value added both in terms of absolute value and as a percentage of GDP, ranking 146th out of 173 countries in both categories. However, the country excels in Medium and high-tech manufacturing value added, surpassing the global average and ranking 36th out of 149 countries. These indicators are crucial as they highlight Barbados' strength in high-value manufacturing sectors compared to its overall manufacturing performance, indicating a potential for specialization and competitiveness in specific industries within the global market.

Money

Barbados' Inflation, GDP deflator (annual %) stands at 1.67%, which is notably below the average of 6.90%. This places Barbados at a rank of 102 out of 188 countries included in the data.

Regarding Broad money growth (annual %), Barbados shows a growth rate of 7.26%, falling short of the average of 18.03%. This positions Barbados at rank 112 out of 139 countries.

Furthermore, Barbados' Broad money (% of GDP) is at 131.93%, significantly surpassing the average of 71.75%. This places Barbados at an impressive 11th rank out of 139 countries.

Lastly, the Broad money to total reserves ratio in Barbados is 4.60%, slightly lower than the average of 5.17%. Barbados holds the 30th rank out of 126 countries in this aspect.

Summary

Barbados has a relatively low inflation rate and GDP deflator compared to the global average, positioning it at a lower rank in comparison to other countries. While the country falls short in terms of broad money growth, it excels in having a high broad money as a percentage of GDP, showcasing strong monetary liquidity. Additionally, Barbados maintains a slightly lower ratio of broad money to total reserves than the global average, indicating a stable financial position.

These indicators are crucial as they provide insights into Barbados' economic stability, monetary policy effectiveness, and financial resilience in comparison to other nations. Understanding these metrics can help policymakers, investors, and analysts make informed decisions regarding investments, economic policies, and risk assessments concerning Barbados.

Consumption Expenditure

Final consumption expenditure (current US$): Barbados had a final consumption expenditure of 4,361,350,000 USD, which is significantly below the average of 381,630,252,515.38 USD. Barbados ranks 137th out of 159 countries in this attribute.

Final consumption expenditure (% of GDP): Barbados had final consumption expenditure as a percentage of GDP at 92.03%, which is above the average of 82.37%. Barbados ranks 38th out of 159 countries in this attribute.

General government final consumption expenditure (current US$): Barbados' general government final consumption expenditure was 574,150,000 USD, well below the average of 93,676,578,238.03 USD. Barbados ranks 142nd out of 158 countries in this attribute.

General government final consumption expenditure (% of GDP): Barbados had general government final consumption expenditure as a percentage of GDP at 12.12%, below the average of 18.71%. Barbados ranks 127th out of 158 countries in this attribute.

Household and NPISHs Final consumption expenditure (current US$): Barbados recorded a household and NPISHs final consumption expenditure of 3,787,150,000 USD, much lower than the average of 290,127,571,157.69 USD. Barbados ranks 134th out of 158 countries in this attribute.

Households and NPISHs final consumption expenditure (% of GDP): Barbados had household and NPISHs final consumption expenditure as a percentage of GDP at 79.92%, above the average of 63.68%. Barbados ranks 27th out of 158 countries in this attribute.

Summary

Barbados exhibits a pattern of lower final consumption expenditures in both absolute terms and as a percentage of GDP compared to the global average. The country ranks relatively low in terms of final consumption expenditure and general government final consumption expenditure. However, it is noteworthy that Barbados ranks higher in terms of final consumption expenditure as a percentage of GDP, indicating potential efficiency in resource allocation and economic productivity.

These findings are essential as they provide insights into Barbados' economic structure and spending patterns. The lower general government final consumption expenditure suggests potential limitations in public sector investments and services. On the other hand, the higher household and NPISHs final consumption expenditure as a percentage of GDP indicates a relatively higher level of private sector spending, which could signify robust consumer confidence and economic activity within the country.

Equities

Barbados has 15 listed domestic companies, which is significantly below the average of 636.625 listed domestic companies, ranking 66th out of 72 countries in the dataset. The total value of stocks traded in Barbados is $6,260,000, far below the average of $1,379,501,958, behind 69 other countries.

Barbados' market capitalization of listed domestic companies is $2,780,430,000, substantially lower than the average of $1,196,037,851,618.88, placing Barbados 68th out of 73 countries in the dataset. The market capitalization of listed domestic companies in Barbados as a percentage of GDP is 58.67%, which is below the average of 71.24%, making Barbados rank 29th out of 73 countries.

Summary

Barbados has a notably smaller number of listed domestic companies and lower total value of stocks traded compared to the average among the countries in the dataset. Additionally, the country's market capitalization of listed domestic companies, both in absolute terms and as a percentage of GDP, falls below the dataset average, placing Barbados in lower rankings. These indicators suggest limited depth and breadth in Barbados' capital markets, potentially indicating less robust investment opportunities and economic activity relative to other countries in the dataset.

Investment

Analysis of Foreign Direct Investment (FDI) in Barbados:

1. Foreign direct investment, net inflows (BoP, current US$): The focus country value of $262,100,000 is significantly below the attribute average of $5,749,271,080.15. Barbados ranks 107 out of 182 countries in this category.

2. Foreign direct investment, net inflows (% of GDP): Barbados' FDI net inflows as a percentage of GDP is 5.53%, which is notably higher than the attribute average of 2.61%. Barbados ranks 32 out of 178 countries in this metric.

3. Foreign direct investment, net outflows (BoP, current US$): With net outflows of $7,500,000, Barbados is below the attribute average of $5,707,991,116.07. The country ranks 98 out of 156 nations in this aspect.

4. Foreign direct investment, net outflows (% of GDP): Barbados' net outflows as a percentage of GDP stand at 0.16%, lower than the attribute average of 1.00%. The country ranks 88 out of 155 countries in this measure.

Summary

Barbados demonstrates a significant disparity in its foreign direct investment (FDI) compared to the global average. While the country attracts a relatively low amount of FDI in absolute terms, it excels in utilizing this investment efficiently, as seen by its FDI net inflows as a percentage of GDP being notably higher than average. This highlights Barbados' ability to maximize the impact of FDI on its economy and potentially indicates a favorable investment environment that attracts higher relative investments compared to its GDP. The low levels of net outflows further suggest that Barbados is not excessively investing abroad, which can be crucial for maintaining a stable economic ecosystem domestically.

Broad Trade Attributes

Barbados has a Trade (% of GDP) value of 65.30%, which is below the average of 82.34%. This places Barbados at rank 90 out of 163 countries in the dataset.

Barbados's Merchandise trade (% of GDP) stands at 38.98%, lower than the average of 60.01%. The country ranks 134 out of 186 nations in this category.

The External balance on goods and services (current US$) for Barbados is -302,900,000, significantly below the average of 3,405,509,011.13. This places Barbados at rank 82 out of 163 countries.

Barbados's External balance on goods and services (% of GDP) is -6.39%, slightly below the average of -5.97%. The country is ranked 98 out of 163 nations in this metric.

Summary

Barbados exhibits a below-average performance in key macroeconomic indicators. With Trade (% of GDP), Merchandise trade (% of GDP), and External balance on goods and services lagging behind global averages, Barbados faces challenges in maintaining a competitive position in the international trade arena. The negative values in External balance on goods and services signal a trade deficit that might require careful economic policies and strategic trade partnerships to address for sustainable economic growth and stability.

Broad Export Attributes

Barbados' exports of goods and services amounted to $1,395,750,000, which is below the average of $129,596,864,610. Barbados ranks 134th out of 163 countries in this attribute.

Exports of goods and services as a percentage of GDP in Barbados is 29.45%, lower than the average of 38.18%. This places Barbados at the 85th position out of 163 countries.

Barbados' ICT goods exports account for 0.52% of its total goods exports, significantly below the average of 3.81%. In this aspect, Barbados ranks 77th out of 142 countries.

Summary

Barbados lags behind the global average in key macroeconomic indicators such as exports of goods and services, exports of goods and services as a percentage of GDP, and ICT goods exports. These lower rankings indicate potential challenges in Barbados' economic growth and competitiveness on the global stage, highlighting the need for strategic policies to enhance international trade and strengthen the ICT sector to drive economic diversification and development.

Merchandise Exports

Barbados has a merchandise exports value of $345,000,000, significantly below the average of $89,542,711,229.95, ranking 163 out of 187 countries in the dataset.

Barbados exports only 0.02% of agricultural raw materials, much lower than the average of 2.97%. This places Barbados at rank 143 out of 151 countries.

Food exports account for 35.22% of Barbados' merchandise exports, which is higher than the average of 24.06%, placing Barbados at rank 35 out of 152 countries.

Barbados' fuel exports constitute 4.78% of its merchandise exports, below the average of 13.70%. This positions Barbados at rank 63 out of 147 countries.

Ores and metals exports represent 2.78% of Barbados' merchandise exports, lower than the average of 9.10%. Barbados ranks 84 out of 152 countries in this aspect.

The residual merchandise exports by Barbados account for 24.77%, well above the average of 3.20%, placing Barbados as the 5th country out of 166 in the dataset.

Summary

Barbados has lower than average merchandise exports value, but it has a higher percentage of food exports compared to the global average, indicating a comparative advantage in this sector. However, its low exports of agricultural raw materials, fuel, and ores/metals suggest a potential lack of diversification in its export portfolio.

These findings are important as they highlight Barbados' strengths and weaknesses in the global market, indicating areas where the country can focus on for improvement or diversification. Understanding these trends can help Barbados formulate targeted policies to enhance its export competitiveness and drive economic growth in the long term.

Technology Exports

Barbados's manufactures exports account for 55.48% of its merchandise exports, which is above the average of 42.62%. The country is ranked 61 out of 152 countries in this attribute data.

Barbados's high-technology exports amount to $25,313,814, significantly below the average of $16,655,934,078.80. This places Barbados at the 100th rank out of 151 countries.

High-technology exports contribute to 20.30% of Barbados's manufactured exports, surpassing the average of 10.15%. The country holds the 25th rank out of 150 countries in this aspect.

For medium and high-tech exports as a percentage of manufactured exports, Barbados stands at 34.98%, slightly above the average of 34.29%. The country's rank is 68 out of 149 countries in this dataset.

Summary

Barbados has a strong focus on manufacturing, with manufactures exports accounting for a significant portion of its merchandise exports and high-technology exports making up a smaller but notable share. While the country may rank lower in total high-technology exports compared to others, its emphasis on this sector is evident in the percentage it contributes to manufactured exports, surpassing the average. This indicates Barbados' potential for technological advancement and innovation within its manufacturing industry, which can lead to increased competitiveness and economic diversification.

Broad Import Attributes

Barbados' imports of goods and services amount to $1.7 billion, ranking 139th out of 163 countries. This value is significantly below the attribute average of $126.2 billion.

Barbados' imports of goods and services, which account for 35.85% of its GDP, are lower than the average of 44.15%. The country ranks 90th out of 163 nations in this aspect.

Barbados' ICT goods imports, representing 4.85% of its total goods imports, fall below the average of 6.85%. The country is ranked 78th out of 143 countries in this category.

Summary

Barbados has relatively low imports of goods and services compared to the global average, ranking 139th out of 163 countries. Additionally, its imports as a percentage of GDP and ICT goods imports are below the global averages, ranking 90th and 78th respectively. These statistics indicate that Barbados may have a more closed economy compared to other nations, potentially impacting its access to a diverse range of goods and technologies necessary for economic growth and development.

Merchandise Imports

Barbados has merchandise imports totaling $1.5 billion, ranking 154th out of 190 countries. This is significantly below the average merchandise imports of $89.38 billion.

Manufactures imports account for 57.20% of Barbados' total merchandise imports, ranking 128th out of 152 countries. This percentage is below the average of 66.76%.

Agricultural raw materials imports make up 1.16% of Barbados' merchandise imports, placing it 72nd out of 152 countries. This is slightly below the average of 1.27%.

Food imports constitute 23.08% of Barbados' merchandise imports, ranking 22nd out of 152 countries. This percentage is notably above the average of 15.89%.

Fuel imports represent 17.29% of Barbados' merchandise imports, also ranking 22nd out of 152 countries. This is higher than the average of 11.38%.

Ores and metals imports make up 0.91% of Barbados' merchandise imports, placing it 120th out of 152 countries. This is significantly below the average of 2.57%.

Finally, merchandise imports by the reporting economy (residual) account for 0.35% of Barbados' total merchandise imports, ranking 95th out of 180 countries. This percentage is below the average of 2.51%.

Summary

Barbados has a lower-than-average total merchandise imports at $1.5 billion, with a notable focus on food imports which constitute 23.08% of the total. Additionally, Barbados imports less ores and metals compared to the average, indicating a specific import composition strategy.

These findings are crucial as they highlight Barbados' import priorities and dependencies. The high percentage of food imports suggests a reliance on external sources for food security, while the lower proportions of ores and metals signify potential limitations in industrial production and infrastructure development within the country.

Infrastructure

Barbados has a Container port traffic of 89,460 TEUs, significantly below the attribute average of 6,907,110. The country ranks 103 out of 110 countries included in the data.

Summary

Barbados demonstrates a low level of container port traffic with only 89,460 TEUs, placing it significantly below the average of 6,907,110 TEUs among the countries studied. This low ranking of 103 out of 110 countries indicates potential challenges in trade capacity and efficiency, which could impact the country's ability to facilitate international commerce, attract foreign investment, and participate effectively in the global supply chain network.

Information Technology Infrastructure

- Barbados has 298 secure internet servers, well below the attribute average of 458,294, ranking 142 out of 193 countries.
- The country has 1,061.66 secure internet servers per 1 million people, significantly lower than the average of 14,067.17, placing it at 78 out of 193 countries.
- With 82.46% of its population using the internet, Barbados surpasses the average of 64.77%, securing a rank of 56 out of 180 countries.
- Barbados has 128,000 fixed broadband subscriptions, far below the average of 6,591,956.35, ranking at 119 out of 185 countries.
- The country counts 295,000 mobile cellular subscriptions, significantly lower than the average of 42,526,463.87, ranking at 171 out of 193 countries.

Summary

Barbados lags behind global averages in key internet and telecommunication indicators such as secure internet servers, internet users, and broadband subscriptions. The country's below-average performance in these areas could hinder its ability to fully participate in the digital economy and take advantage of technological advancements, potentially impacting its competitiveness, innovation, and overall socio-economic development.

Energy Consumption

Barbados has a renewable energy consumption of 4.57% of total final energy consumption, significantly below the average of 32.18%. This places Barbados at rank 161 out of 191 countries in the dataset for this attribute.

Regarding CO2 emissions, Barbados emits 1096.07 kt, notably below the average of 171,895.94 kt. This positions Barbados at rank 156 out of 188 countries in the dataset for CO2 emissions.

Summary

Barbados has a relatively low renewable energy consumption of 4.57% and below-average CO2 emissions of 1096.07 kt. These statistics place Barbados at low ranks globally for both indicators. The low renewable energy consumption indicates a potential lack of sustainability and energy diversification, while the low CO2 emissions suggest a relatively cleaner environment and lower carbon footprint compared to many other countries.

Government Balance Sheet

Barbados has a Total reserves minus gold (current US$) value of 1,358,013,876.09, which is significantly below the attribute average of 74,221,588,171.61. This places Barbados at a rank of 118 out of 161 countries in the dataset.

Similarly, Barbados' Total reserves (includes gold, current US$) value stands at 1,358,013,876.09, also notably below the attribute average of 85,708,019,773.47. This places Barbados at a rank of 119 out of 161 countries considered for this attribute.

Summary

Barbados has significantly lower total reserves minus gold and total reserves (including gold) compared to the average of countries in the dataset, ranking 118th and 119th out of 161 countries, respectively. This shortfall in reserves indicates potential vulnerability for Barbados in managing external shocks, such as fluctuations in exchange rates, trade imbalances, or sudden capital outflows, highlighting the importance of building up reserves to enhance economic stability and resilience.

Taxes

Barbados has a Tariff rate of 11.82%, which is above the attribute average of 5.21%. This places Barbados at the 15th rank out of 153 countries in terms of tariff rates for all products.

Summary

Barbados maintains a relatively high tariff rate of 11.82%, surpassing the global average of 5.21%. This positions Barbados as the 15th highest country out of 153 nations in terms of tariff rates across all products. Such a high tariff rate indicates that Barbados places significant importance on protecting domestic industries, regulating imports, and potentially generating revenue for the government through import duties.

Top Stats

Ranks in Top Decile For:

Attribute	Rank/Total
Services, value added (% of GDP)	13/183
Broad money (% of GDP)	11/139
Merchandise exports by the reporting economy, residual (% of total merchandise exports)	5/166
Tariff rate, applied, weighted mean, all products (%)	15/153

Ranks in Bottom Decile For:

Attribute	Rank/Total
Armed forces personnel, total	160/164
Forest area (sq. km)	180/191
Land area (sq. km)	182/194
Surface area (sq. km)	182/194
Land under cereal production (hectares)	171/174
Renewable internal freshwater resources, total (billion cubic meters)	172/178
Cereal production (metric tons)	172/174
Total fisheries production (metric tons)	175/182
Trademark applications, resident, by count	117/129
Agriculture, forestry, and fishing, value added (current US$)	165/182
Listed domestic companies, total	66/72
Stocks traded, total value (current US$)	70/71
Stocks traded, total value (% of GDP)	64/71
Market capitalization of listed domestic companies (current US$)	68/73
Agricultural raw materials exports (% of merchandise exports)	143/151
Container port traffic (TEU: 20 foot equivalent units)	103/110