GDP Actual Q3 Q4 Q1 Q2 2022
GDP Annual Growth Rate (%) -17.60 4.1 4.1 7.5 7.5 7.5
GDP (USD Billion) 4.37 4.96 4.93 4.93 4.93 5.1
GDP Per Capita Ppp (USD) 12870.04 15200 15200 15200 15200 15360
GDP per capita (USD) 13249.42 16100 16100 16100 16100 16250

Labour Actual Q3 Q4 Q1 Q2 2022
Unemployment Rate (%) 13.60 11.7 11.5 11 11 10.1
Unemployed Persons (Thousand) 18.50 17.8 17.5 17.5 17.5 17

Prices Actual Q3 Q4 Q1 Q2 2022
Inflation Rate (%) 1.20 4.8 4.1 3.6 3 3.6
Food Inflation (%) 3.90 8.7 7 7 7 5.5
Consumer Price Index CPI (points) 202.10 202 204 210 209 218

Money Actual Q3 Q4 Q1 Q2 2022
Interest Rate (%) 2.00 2 2 2 2 2.5
Deposit Interest Rate (%) 0.15 0.15 1.12 0.15 0.15 0.65

Trade Actual Q3 Q4 Q1 Q2 2022
Balance of Trade (BDS Thousand ) -152098.00 -204300 -200020 -200020 -200020 -220600
Current Account (BDS Millions) -620.50 -300 -300 -300 -300 -260
Current Account To GDP (% of GDP) -7.00 -11.5 -11.5 -8.3 -8.3 -8.3
Exports (BDS Thousand ) 51218.00 71800 72600 72600 72600 78000
Imports (BDS Thousand ) 203316.00 291000 293200 293200 293200 291000
Tourist Arrivals 489.00 16200 18000 18000 18000 30000

Government Actual Q3 Q4 Q1 Q2 2022
Government Budget (% of GDP) -0.40 -4.5 -4.5 -4.5 -4.5 -4

Taxes Actual Q3 Q4 Q1 Q2 2022
Personal Income Tax Rate (%) 28.50 40 40 40 40 40
Corporate Tax Rate (%) 5.50 25 25 25 25 25
Sales Tax Rate (%) 17.50 17.5 17.5 17.5 17.5 17.5
Social Security Rate (%) 23.85 23.85 23.85 23.85 23.85 23.85
Social Security Rate For Companies (%) 12.75 11.25 11.25 11.25 11.25 11.25
Social Security Rate For Employees (%) 11.10 10.1 10.1 10.1 10.1 10.1


This page has economic forecasts for Barbados including a long-term outlook for the next decades, plus medium-term expectations for the next four quarters and short-term market predictions for the next release affecting the Barbados economy.