Barbados: Share of industry

The latest value from 2024 is 12.21 percent, a decline from 12.29 percent in 2023. In comparison, the world average is 25.48 percent, based on data from 181 countries. Historically, the average for Barbados from 1975 to 2024 is 15.09 percent. The minimum value, 12.21 percent, was reached in 2024 while the maximum of 18.89 percent was recorded in 1978. See the global rankings for that indicator or use the country comparator to compare trends over time.

The importance of industry in the economy of Barbados and other countries is measured as the value added of the industrial sector as percent of GDP. Industry includes mining, manufacturing, construction, electricity, water, and gas.

Definition: Industry (including construction) corresponds to ISIC (Rev.4) divisions 05-43. It is comprised of mining, manufacturing, construction, electricity, water, and gas industries. Value added is the contribution to the economy by a producer or an industry or an institutional sector, which is estimated by the total value of output produced and deducting the total value of intermediate consumption of goods and services used to produce that output. This indicator is expressed as a percentage of Gross Domestic Product (GDP) which is the total income earned through the production of goods and services in an economic territory during an accounting period.