Barbados: Terms of trade

* indicates monthly or quarterly data series
 Barbados

Terms of trade, base year = 2000

 Latest value 92.62
 Year 2021
 Measure percent
 Data availability 2000 - 2021
 Average 94.81
 Min - Max 79.65 - 104.49
 Source The United Nations
For that indicator, we provide data for Barbados from 2000 to 2021. The average value for Barbados during that period was 94.81 percent with a minimum of 79.65 percent in 2002 and a maximum of 104.49 percent in 2009. The latest value from 2021 is 92.62 percent. For comparison, the world average in 2021 based on 189 countries is 109.62 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 - Terms of trade - Recent values chart

Historical chart
Barbados - Terms of trade - historical chart - 2000-2021




The terms of trade for Barbados are calculated as the value of its exports as percent of the value of its imports. An increase in the terms of trade means that the value of exports is increasing relative to the value of imports. The country can afford to buy more imports with the revenue from its exports. For example, an increase in the price of oil increases (improves) the terms of trade for the oil-exporting countries and lowers it for the other countries.
Definition: Net barter terms of trade index is calculated as the percentage ratio of the export unit value indexes to the import unit value indexes, measured relative to the base year 2015.


 Related indicators Latest value Reference Measure
 Terms of trade 92.62 2021 percent
 Trade openness 78.35 2022 percent
 Financial openness -1.242 2021 index points
 Exports, percent of GDP 35.13 2022 percent
 Exports, billion dollars 2.00 2022 billion U.S. dollars
 Imports, percent of GDP 43.22 2022 percent
 Imports, billion dollars 2.46 2022 billion U.S. dollars
 Foreign Direct Investment, percent of GDP 3.51 2022 percent
 Foreign Direct Investment, billion dollars 0.20 2022 billion U.S. dollars
 Portfolio investment inflows, equities 2.58 2017 million dollars (current)
 Current account, percent of GDP -11.10 2022 percent
 Current account, in dollars -0.30 2017 billion U.S. dollars
 Trade balance, percent of GDP -8.09 2022 percent
 Trade balance, in dollars 0.02 2017 billion U.S. dollars
 Reserves 1.52 2022 billion U.S. dollars
 Remittances, percent of GDP 1.49 2022 percent
 Remittances 85.18 2022 million U.S. dollars
 Net errors and omissions -132.48 2017 million USD
 Foreign exchange reserves 2.83 9/2023 billion
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