Barbados: Government debt

* indicates monthly or quarterly data series
 Barbados

Government debt as percent of GDP

 Latest value 115.50
 Year 2023
 Measure percent
 Data availability 2012 - 2023
 Average 131.52
 Min - Max 115.50 - 150.50
 Source Central Bank of Barbados
For that indicator, we provide data for Barbados from 2012 to 2023. The average value for Barbados during that period was 131.52 percent with a minimum of 115.5 percent in 2023 and a maximum of 150.5 percent in 2016. The latest value from 2023 is 115.5 percent. For comparison, the world average in 2023 based on 47 countries is 70.34 percent. See the global rankings for that indicator or use the country comparator to compare trends over time.
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* indicates monthly or quarterly data series


Recent values chart
Barbados - Government debt - Recent values chart

Historical chart
Barbados - Government debt - historical chart - 2012-2023




The government debt in Barbados and other countries is calculated as the total amount owed by the national government to domestic and international lenders. It is reported as percent of GDP so that we can evaluate its magnitude relative to the size of the economy.

Government debt of about 60 percent or less of GDP is not considered a problem. The government can make payments without strain and even has some room to borrow more. If debt levels reach 80-90 percent that may have negative effects on the economy. Debt above 120 percent of GDP is quite detrimental.
Definition: Debt is the entire stock of direct government fixed-term contractual obligations to others outstanding on a particular date. It includes domestic and foreign liabilities such as currency and money deposits, securities other than shares, and loans. It is the gross amount of government liabilities reduced by the amount of equity and financial derivatives held by the government. Because debt is a stock rather than a flow, it is measured as of a given date, usually the last day of the fiscal year.


 Related indicators Latest value Reference Measure
 Government spending, percent of GDP 12.02 2022 percent
 Government spending, in dollars 0.69 2022 billion U.S. dollars
 Fiscal balance, percent of GDP -2.00 2022 percent
 Government debt 115.50 2023 percent
 Tax revenue 27.42 2016 percent
 Commercial tax rate 35.60 2019 percent
 Tax preparation time 241 2019 hours
 Number of taxes 28 2019 taxes
 Taxes on goods and services 45.88 2016 percent
 Taxes on international trade 8.57 2016 percent
 Income and profits taxes 29.98 2016 percent
 Foreign aid 15.58 2010 million U.S. dollars
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