Barbados Economy

Barbados Economy  | read this item

Barbados economy is at the 21st place when talking about economic freedom in comparison with other countries of American region. Because of labor freedom, lower corruption and property rights economic freedom is now possible in Barbados.

$5.31 billion was the indicator of GDP in 2007. On the other hand, GDP per capita came up to $18,900 in the same year.

For the years of 2004 and 2006 inflation touched 6.4%, though prices in Barbados are controlled by the market.

When talking about imports and exports, the indicator of $1.586 billion for imported goods and only $385 million for exported goods and services are observed. UK, US, Saint Lucia are in the list of the country’s export partners.

High tariff rates fixed on goods and rising inflation are the challenges the country has to face.

Anyway, the future of Barbados economy is not so hopeless as it may seem. The economists forecast a free economy environment and rich dividend in the near future.

Topics: Barbados Economy, economists, economy, free economy, gdp per capita, imports and exports