Attribute | Value |
---|---|
Geography | |
Area | 430 km² |
Continent | North America |
Land area | 430 km² |
Water area | 0 km² |
Land boundaries | 0 km |
Border countries | Add |
Coastline | 97 km |
Mean elevation | Add |
Lowest point | 0 m |
Highest point | 336 m |
People | |
Population | 294,560 |
Official languages |
|
Religion | Protestant |
Government | |
Long country name | Add |
Short country name | Barbados |
Long local name | Add |
Short local name | Add |
Former name | Add |
Government type | Parliamentary democracy |
Capital | Bridgetown |
Economy | |
GDP (PPP) | 5,218,000,000 USD |
GDP (OER) | 4,990,000,000 USD |
GDP (real growth rate) | -0.2 % |
GDP - per capita (PPP) | 18,600 USD |
Gross national saving | 7.2 % of GDP |
Labor force | 144,000 |
Unemployment rate | 10.1 % |
Population below poverty line | Add |
Budget revenues | 1,466,000,000 USD |
Budget expenditures | 1,664,000,000 USD |
Military expenditures | Add |
Taxes and other revenues | 29.4 % of GDP |
Budget surplus or deficit | -4 % of GDP |
Public debt | 157.3 % of GDP |
Inflation rate | 4.4 % |
Central bank discount rate | 7 % |
Commercial bank prime lending rate | 8.1 % |
Stock of narrow money | 2,470,000,000 USD |
Stock of broad money | 2,470,000,000 USD |
Stock of domestic credit | 6,184,000,000 USD |
Market value of publicly traded shares | 4,495,000,000 USD |
Current account balance | -189,000,000 USD |
Exports | 485,400,000 USD |
Imports | 1,520,000,000 USD |
Reserves of foreign exchange and gold | 264,500,000 USD |
External debt | 4,490,000,000 USD |
National currency | Barbadian dollars |
National currency (code) | BBD |
National currency (symbol) | $ |
National currency rate to USD | 2 |
The island was uninhabited when first settled by the British in 1627. African slaves worked the sugar plantations established on the island, which initially dominated the Caribbean sugar industry. By 1720 Barbados was no longer a dominant force within the sugar industry, having been surpassed by the Leeward Islands and Jamaica. Slavery was abolished in 1834. The Barbadian economy remained heavily dependent on sugar, rum, and molasses production through most of the 20th century. The gradual introduction of social and political reforms in the 1940s and 1950s led to complete independence from the UK in 1966. In the 1990s, tourism and manufacturing surpassed the sugar industry in economic importance.