Country Fast Facts: Barbados

The island was uninhabited when first settled by the British in 1627.

Slaves worked the sugar plantations established on the island until 1834 when slavery was abolished.

The 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.

Source: CIA World Fact Book

Population:
280,946 (July 2007 est.)

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Age structure:
0-14 years: 19.7% (male 27,659/female 27,573)
15-64 years: 71.4% (male 98,633/female 102,020)
65 years and over: 8.9% (male 9,662/female 15,399) (2007 est.)
Median age:
total: 35 years
male: 33.8 years
female: 36 years (2007 est.)

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Population growth rate:
0.369% (2007 est.)

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Birth rate:
12.61 births/1,000 population (2007 est.)

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Death rate:
8.61 deaths/1,000 population (2007 est.)

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Net migration rate:
-0.31 migrant(s)/1,000 population (2007 est.)

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Sex ratio:
at birth: 1.01 male(s)/female
under 15 years: 1.003 male(s)/female
15-64 years: 0.967 male(s)/female
65 years and over: 0.627 male(s)/female
total population: 0.938 male(s)/female (2007 est.)

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Infant mortality rate:
total: 11.55 deaths/1,000 live births
male: 12.88 deaths/1,000 live births
female: 10.19 deaths/1,000 live births (2007 est.)

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Life expectancy at birth:
total population: 73 years
male: 71.02 years
female: 75.01 years (2007 est.)

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Total fertility rate:
1.65 children born/woman (2007 est.)

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HIV/AIDS - adult prevalence rate:
1.5%; (2003 est.)

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HIV/AIDS - people living with HIV/AIDS:
2,500 (2003 est.)

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HIV/AIDS - deaths:
less than 200 (2003 est.)

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Nationality:
noun: Barbadian(s) or Bajan (colloquial)
adjective: Barbadian or Bajan (colloquial)

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Ethnic groups:
black 90%, white 4%, Asian and mixed 6%

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Religions:
Protestant 67% (Anglican 40%, Pentecostal 8%, Methodist 7%, other 12%), Roman Catholic 4%, none 17%, other 12%

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Languages:
English

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Literacy:
definition: age 15 and over has ever attended school
total population: 99.7%
male: 99.7%
female: 99.7% (2002 est.)

Historically, the Barbadian economy had been dependent on sugarcane cultivation and related activities, but production in recent years has diversified into light industry and tourism. Offshore finance and information services are important foreign exchange earners. The government continues its efforts to reduce unemployment, to encourage direct foreign investment, and to privatize remaining state-owned enterprises. The economy contracted in 2002-03 mainly due to a decline in tourism. Growth was positive in 2005-06, as economic conditions in the US and Europe moderately improved.

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GDP (purchasing power parity):
$5.146 billion (2006 est.)

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GDP (official exchange rate):
$3.142 billion (2006 est.)

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GDP - real growth rate:
3.5% (2006 est.)

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GDP - per capita (PPP):
$18,400 (2006 est.)

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GDP - composition by sector:
agriculture: 6%
industry: 16%
services: 78% (2000 est.)

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Labor force:
128,500 (2001 est.)

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Labor force - by occupation:
agriculture: 10%
industry: 15%
services: 75% (1996 est.)

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Unemployment rate:
10.7% (2003 est.)

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Population below poverty line:
NA%

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Household income or consumption by percentage share:
lowest 10%: NA%
highest 10%: NA%

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Inflation rate (consumer prices):
-0.5% (2003 est.)

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Budget:
revenues: $847 million (including grants)
expenditures: $886 million; including capital expenditures of $NA (2000 est.)

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Agriculture - products:
sugarcane, vegetables, cotton

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Industries:
tourism, sugar, light manufacturing, component assembly for export

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Industrial production growth rate:
-3.2% (2000 est.)

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Electricity - production:
896 million kWh (2004)

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Electricity - consumption:
833.3 million kWh (2004)

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Electricity - exports:
0 kWh (2004)

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Electricity - imports:
0 kWh (2004)

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Oil - production:
1,000 bbl/day (2004)

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Oil - consumption:
11,000 bbl/day (2004 est.)

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Oil - exports:
NA bbl/day

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Oil - imports:
NA bbl/day

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Oil - proved reserves:
2.509 million bbl (1 January 2005)

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Natural gas - production:
29.17 million cu m (2004 est.)

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Natural gas - consumption:
29.17 million cu m (2004 est.)

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Natural gas - exports:
0 cu m (2004 est.)

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Natural gas - imports:
0 cu m (2004 est.)

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Natural gas - proved reserves:
141.6 million cu m (1 January 2005 est.)

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Exports:
$209 million (2004 est.)

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Exports - commodities:
sugar and molasses, rum, other foods and beverages, chemicals, electrical components

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Exports - partners:
Trinidad and Tobago 16.3%, UK 11.1%, US 10.9%, Saint Lucia 9.2%, Jamaica 8.7%, Grenada 5.1%, Saint Vincent and the Grenadines 5%, Saint Kitts & Nevis 4.3%, Canada 4% (2006)

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Imports:
$1.476 billion (2004 est.)

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Imports - commodities:
consumer goods, machinery, foodstuffs, construction materials, chemicals, fuel, electrical components

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Imports - partners:
US 29.5%, Trinidad and Tobago 26.4%, UK 5.8%, China 5% (2006)

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Debt - external:
$668 million (2003)

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Economic aid - recipient:
$9.1 million (1995)

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Currency (code):
Barbadian dollar (BBD)

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Exchange rates:
Barbadian dollars per US dollar - 2 (2006), 2 (2005), 2 (2004), 2 (2003), 2 (2002)

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Fiscal year:
1 April - 31 March