Discusses key economic indicators and trade statistics, which countries are dominant in the market, the U.S. market share, the political situation if relevant, the top reasons why U.S. companies should consider exporting to this country, and other issues that affect trade, e.g., terrorism, currency devaluations, trade agreements.
Last Published: 7/8/2019

Barbados, the easternmost Caribbean island, is an English-speaking country 21 miles long by 14 miles wide, with approximately 285,000 inhabitants and a labor force of 144,000.  Barbados enjoys a longstanding democratic tradition and a strong commitment to the rule of law and political and economic freedoms.  The main objective of Barbados' monetary policy is to preserve the fixed exchange rate with the U.S. dollar, which has remained at two Barbadian dollars to one U.S. dollar since 1975.  Barbados remains a import-driven economy.   The United States enjoys a trade surplus with Barbados.  In 2018, the trade balance between the United States and Barbados amounted to $534.6 million.  Barbados’ per capita income remains one of the highest in the Eastern Caribbean region, and the country ranks high in the United Nations Development Program's Human Development Index.  Barbados entered a stand-by agreement with the International Monetary Fund (IMF) in late 2018.  The $290 million, four-year Barbados Economic Recovery and Transformation (BERT) program aims to decrease the debt to GDP ratio, strengthen the balance of payments, and stimulate growth. 

Prepared by our U.S. Embassies abroad. With its network of 108 offices across the United States and in more than 75 countries, the U.S. Commercial Service of the U.S. Department of Commerce utilizes its global presence and international marketing expertise to help U.S. companies sell their products and services worldwide. Locate the U.S. Commercial Service trade specialist in the U.S. nearest you by visiting http://export.gov/usoffices.

Barbados Trade Development and Promotion