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: 281,200 (2021)
GDP: 4.844 billion USD (2021)
Corporate Tax Rate: 5.5%
Personal Income Tax Rate: 12.5% - 28.5%
Major Exports: Hard Liquor ($60.8M), Passenger and Cargo Ships ($25.2M), Packaged Medicaments ($23.1M), Cement ($14.1M), and Paper Labels ($13.3M), exporting mostly to United States ($70.4M), Jamaica ($41.4M), Guyana ($28.8M), Trinidad and Tobago ($26.4M), and Italy ($23.2M).
Major Imports: Refined Petroleum ($331M), Crude Petroleum ($277M), Railway Cargo Containers ($137M), Cars ($42.7M), and Passenger and Cargo Ships ($40.3M), importing mostly from United States ($702M), Guyana ($283M), China ($236M), Trinidad and Tobago ($126M), and United Kingdom ($74.9M).
Investment Agency: Invest Barbados
Website: https://www.investbarbados.org/
National Chamber of Commerce: Barbados Chamber of Commerce and Industry
Website: https://www.barbadoschamberofcommerce.com/
Customs Agency: Barbados Customs and Excise Department
Website: https://www.gov.bb/Departments/customs
