Barbados

On this page you will find beneficial information regarding foreign direct investment in / trading with Barbados. If you are interested in exploring trade or investment possibilities in the country, feel free to contact the International Trade Council team. Additionally, we encourage you to engage with the official government investment agency featured on this page.

It is important to note that while the statistics presented on this page were understood to be accurate at the time of publication, they are subject to change over time. Please consult your ITC Trade Commissioner for up-to-date information.

Type of Government: Parliamentary Democracy
Population: 281,635 (2022)
GDP: 5.637 billion USD (2022)
Corporate Tax Rate: 5.5%
Personal Income Tax Rate: 12.5% - 28.5%
Major Exports: Hard Liquor ($64.1M), Packaged Medicaments ($23.7M), Passenger and Cargo Ships ($22M), Alcohol > 80% ABV ($14.1M), and Paper Labels ($14.1M), exporting mostly to United States ($88.6M), Jamaica ($43.3M), Trinidad and Tobago ($33.8M), Guyana ($29.7M), and Poland ($23.1M).
Major Imports: Refined Petroleum ($388M), Cars ($70.9M), Railway Cargo Containers ($42.2M), Packaged Medicaments ($37.3M), and Other Edible Preparations ($25.6M), importing mostly from United States ($859M), China ($166M), Trinidad and Tobago ($132M), United Kingdom ($94.8M), and Netherlands ($68M).