Barbados: Fiscal balance, percent of GDP
* indicates monthly or quarterly data series
| Barbados |
Fiscal balance, percent of GDP |
|---|---|
| Latest value | -2.00 |
| Year | 2022 |
| Measure | percent |
| Data availability | 2007 - 2022 |
| Average | -5.14 |
| Min - Max | -11.00 - 3.50 |
| Source | Central bank of Barbados |
The latest value from 2022 is -2 percent, an increase from -4.7 percent in 2021. In comparison, the world average is -2.51 percent, based on data from 164 countries. Historically, the average for Barbados from 2007 to 2022 is -5.14 percent. The minimum value, -11 percent, was reached in 2013 while the maximum of 3.5 percent was recorded in 2019.
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Definition: The fiscal (budget) balance is the difference between government revenue and government expenditure. We express the value as percent of GDP to relate it to the size of the economy.
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 |
|---|---|---|---|
| Government spending, percent of GDP | 11.84 | 2022 | percent |
| Fiscal balance, percent of GDP | -2.00 | 2022 | percent |
| Government debt | 115.50 | 2023 | percent |
| Tax revenue | 27.39 | 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 |