Flag of Barbados

BARBADOS

Caribbean • Upper-Middle Income • Observer

Data as of October 2023

AT A GLANCE

Barbados carries a public debt of 104.8% of GDP — well above the Caribbean regional average of 72.9% and among the highest in the region. Following a landmark debt restructuring in 2018–2019 and an IMF-supported reform programme, the debt has begun to ease slightly. Each resident carries an estimated $27,819 in public debt. High debt-service costs continue to constrain what the government can spend on public services.

$25,927 GDP per Capita (Nominal) Economic output per person, providing context for how much capacity a country has to manage its debt. 2025
283K Population The total number of people living in the country. Essential context for interpreting per-capita indicators and understanding the scale of public service obligations. 2025
+0.8% GDP Growth How fast the economy is growing or shrinking. Positive growth means the country is producing more; negative growth signals a recession. 2025
104.8% Debt-to-GDP Total public debt as a percentage of economic output - the primary measure of whether a country's debt is sustainable. 2024
-0.3% Budget Balance Whether the government is spending more than it earns. A negative number means a deficit — the country is borrowing to cover the gap. 2025
$27,819 Debt per Capita Public debt divided by population - how much debt each person effectively carries. 2024
$117,448 Debt per Child Total public debt divided by the population under 18. Illustrates the debt burden that today's children will inherit, framing fiscal decisions in terms of intergenerational equity. 2024
82 SDG Global Rank A country's position in the global Sustainable Development Goals Index, ranking 166 nations on progress toward the 17 SDGs. A lower number means stronger overall development performance. 2025

REGIONAL CONTEXT

Indicator Barbados Caribbean Avg Ratio Debt-to-GDP 104.8% 72.9% 1.4× GDP per Capita $25,927 $17,772 1.5× Interest / GDP 5.2% 3.0% 1.7× Debt per Capita $27,819 $12,330 2.3×

DEBT OVERVIEW

Debt-to-GDP, 2016–2024

Debt Composition, 2024

$7.86B Total Debt Stock 2024
5.2% Interest on Public Debt (% GDP) 2024
External Debt Stock
28.9% Gov Revenue / GDP 2024

ECONOMIC CONTEXT

Nominal GDP & Growth Rate

9 since 2002 Disaster events
11,360 Total People Affected
$9M Total Adjusted Damage
2024 - Hurricane Beryl Most recent event

Disaster Event Timeline

Events are plotted by start year, with labels highlighting each event or the highest-impact events.

SDG PROGRESS

The Sustainable Development Goals (SDGs) are 17 global goals adopted by all UN member states to track progress on poverty, health, education, and environmental sustainability.

69.6 SDG Index Score out of 100
#82 Global Rank of 166 countries
#3 Caribbean Rank of 13 nations

Country data sections

What does this national data show?
GDP US$
The total monetary value of all goods and services produced in a country in a given year, measured in current US dollars. GDP is the broadest measure of economic size and determines a country's capacity to service debt.
GDP (Const.) US$ (2015)
GDP adjusted for inflation, measured in constant US dollars. Comparing constant-dollar GDP across years reveals whether the economy is genuinely growing or just reflecting price changes.
GDP/Capita US$/person
Economic output per person, providing context for how much capacity a country has to manage its debt.
GDP/Cap (Const.) US$/person (2015)
GDP per person adjusted for inflation. Tracks whether living standards are truly improving over time by removing the effect of rising prices.
GNI US$
Gross National Income is the total income earned by a country's residents, including income from abroad. GNI captures remittances and overseas earnings that GDP misses, important for small island economies with large diasporas.
GDP Growth %
How fast the economy is growing or shrinking. Positive growth means the country is producing more; negative growth signals a recession.
Real GDP Growth %
The rate of real economic growth, adjusted for inflation. Shows whether productive capacity is expanding or contracting, independent of price-level changes.
Indicator 2021 2022 2023 2024 2025
GDP (Current USD) $5.95B $6.88B $7.22B $7.50B $7.56B
GDP (Constant 2015 USD) $4.93B $5.78B $5.95B $6.10B
GDP per Capita (Current USD) $21,080 $24,387 $25,584 $26,545 $25,927
GDP per Capita (Constant 2015 USD) $17,475 $20,473 $21,068 $21,581
GNI (Current USD) $5.85B $6.72B $6.94B $7.20B
GDP Growth (Current USD) 10.0% 15.8% 4.9% 3.8% 0.8%
GDP Growth (Constant USD) -0.1% 17.2% 2.9% 2.5%
Data Sources Review source coverage and year ranges for the indicators shown above.

GDP/Capita

Population

  • CPDC Calculated — 1990–2025

GDP Growth

  • CPDC Calculated — 1990–2025

Debt/GDP

  • IMF — 1994–2024

Budget Balance

  • IMF — 1994–2025

Debt/Capita

  • CPDC Calculated — 1994–2024

Debt/Child

  • CPDC Calculated — 1994–2024

SDG Rank

  • UN — 2024
  • UN — 2025

Debt Stock

  • CPDC Calculated — 1994–2024

Interest/GDP

  • IMF — 1994–2024

Revenue/GDP

  • IMF — 1994–2024

GDP

Inflation

Unemployment

  • IMF — 1990–2023

Related Resources

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GCF Special Session on Caribbean Regional Initiatives on Debt for Climate Transactions

Crisis Response & Disaster Recovery

Climate-Linked Bonds: A Primer

Crisis Response & Disaster Recovery

Fiscal Space and Debt Sustainability