Barbados

Barbados is an Island in the North Atlantic Ocean located northeast of Venezuela with a total population of approximately 294,560 inhabitants.

The island covers an area of approximately 430 sq. km averaging some 685 persons per sq. km.

Of the total land available 25% or 108 sq. km is arable. Almost 19.4% of the total land available or 83 sq. km is covered with forests.

The island’s total GDP is valued at 4.99 billion. The services sector is the island’s largest GDP contributor accounting for 88.7% of total GDP or 4.33 billion.

The services sector is followed by industry which accounts for 9.8% or 0.49 billion of total GDP and agriculture which accounts for 1.5% or 0.07 billion of total GDP.

The nation’s total labor force is estimated at 144,000, with 10% or 14,400 persons, employed in the agricultural sector, while 15% or 21,600 are involved in industry, and 75% or 108,000, are employed in the services sector.

The island’s industries include tourism, sugar, light manufacturing, and component assembly for export. The island’s agricultural produce include sugarcane, vegetables, and cotton.

The island’s primary exports are manufactured items, sugar, molasses, rum, food and beverages, chemicals and electrical components.

Barbados’s biggest trade partner is the United States which accounts for 38% of total exports and 38.5% of total imports. The country shares very good ties with the United States.

Other major export partners are Trinidad and Tobago 10.2%, Guyana 5.5%, Jamaica 5%, China 4.8%, and Saint Lucia 4.6%. Other major import partners include Trinidad and Tobago 14.6%, China 7.1% and UK 4.7%.