Barbados: Exports, percent of GDP

(measure: percent; source: The World Bank)

Barbados: Exports of goods and services as percent of GDP

: For that indicator, The World Bank provides data for Barbados from 1980 to 2015. The average value for Barbados during that period was 44.31 percent with a minumum of 36.53 percent in 2014 and a maximum of 59.58 percent in 1984.
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The exports of Barbados and other countries are calculated as the total amount of goods and services produced at home and sold abroad. Exports are often reported as percent of GDP so that we can evaluate their magnitude relative to the size of the economy.

If exports are about 15 percent or less of GDP the economy is considered relatively closed as only 15 percent of its products are sold internationally. That, for example, applies to the U.S. In contrast, many small European countries export over 40 percent of their production. They are considered more open to international trade. Exports, percent of GDP rankings around the world. Create and download charts for Barbados Exports, percent of GDP and other indicators with the country comparator.

World Bank definition: Exports of goods and services represent the value of all goods and other market services provided to the rest of the world. They include the value of merchandise, freight, insurance, transport, travel, royalties, license fees, and other services, such as communication, construction, financial, information, business, personal, and government services. They exclude compensation of employees and investment income (formerly called factor services) and transfer payments.
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