Barbados: Trade balance, percent of GDP
* indicates monthly or quarterly data series
| Barbados |
Trade balance as percent of GDP |
|---|---|
| Latest value | -8.09 |
| Year | 2022 |
| Measure | percent |
| Data availability | 1975 - 2022 |
| Average | -3.85 |
| Min - Max | -18.31 - 7.09 |
| Source | The World Bank |
The latest value from 2022 is -8.09 percent, an increase from -9.46 percent in 2021. In comparison, the world average is -4.42 percent, based on data from 149 countries. Historically, the average for Barbados from 1975 to 2022 is -3.85 percent. The minimum value, -18.31 percent, was reached in 1976 while the maximum of 7.09 percent was recorded in 1994.
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* indicates monthly or quarterly data series
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The trade balance for Barbados and other countries is calculated as the difference between the exports and imports of goods and services, as percent of GDP. A positive number means trade surplus and a negative number means trade deficit.
Definition: External balance on goods and services (formerly resource balance) equals exports of goods and services minus imports of goods and services (previously nonfactor services).
Selected articles from our guide:
What factors determine the exchange rates
International lending and sovereign debt
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| Related indicators | Latest | Reference | Measure |
|---|---|---|---|
| Terms of trade | 92.62 | 2021 | percent |
| Trade openness | 76.46 | 2022 | percent |
| Financial openness | -1.242 | 2021 | index points |
| Exports, percent of GDP | 34.28 | 2022 | percent |
| Exports, billion dollars | 2.00 | 2022 | billion U.S. dollars |
| Imports, percent of GDP | 42.18 | 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 | -8.00 | 2023 | 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 | 1.33 | 2023 | percent |
| Remittances | 85.18 | 2023 | million U.S. dollars |
| Net errors and omissions | -132.48 | 2017 | million USD |
| Foreign exchange reserves | 3.17 | 4/2024 | billion |