4957; FAX (809) 429-5246

:Barbados Government

Flag:
three equal vertical bands of blue (hoist side), yellow, and blue with the
head of a black trident centered on the gold band; the trident head
represents independence and a break with the past (the colonial coat of arms
contained a complete trident)

:Barbados Economy

Overview:
A per capita income of $6,500 gives Barbados one of the highest standards of
living of all the small island states of the eastern Caribbean.
Historically, the economy was based on the cultivation of sugarcane and
related activities. In recent years, however, the economy has diversified
into manufacturing and tourism. The tourist industry is now a major employer
of the labor force and a primary source of foreign exchange. The economy
slowed in 1990-91, however, and Bridgetown's declining hard currency
reserves and inability to finance its deficits have caused it to adopt an
austere economic reform program.
GDP:
purchasing power equivalent - $1.7 billion, per capita $6,500; real growth
rate--3.1% (1990)
Inflation rate (consumer prices):
3.4% (1990)
Unemployment rate:
18% (1991)
Budget:
revenues $514 million; expenditures $615 million (FY91-92)
Exports:
$210.6 million (f.o.b., 1990)
commodities:
sugar and molasses, chemicals, electrical components, clothing, rum,
machinery and transport equipment
partners:
CARICOM 30%, US 20%, UK 20%
Imports:
$704 million (c.i.f., 1990)
commodities:
foodstuffs, consumer durables, raw materials, machinery, crude oil,
construction materials, chemicals
partners:
US 35%, CARICOM 13%, UK 12%, Japan 6%, Canada 8%, Venezuela 4%
External debt:
$539.9 million (1990)
Industrial production:
growth rate--2.7% (1990); accounts for 14% of GDP
Electricity:
152,100 kW capacity; 539 million kWh produced, 2,117 kWh per capita (1991)
Industries:
tourism, sugar, light manufacturing, component assembly for export
Agriculture:
accounts for 10% of GDP; major cash crop is sugarcane; other crops -
vegetables and cotton; not self-sufficient in food
Economic aid:
US commitments, including Ex-Im (FY70-89), $15 million; Western (non-US)
countries, ODA and OOF bilateral commitments (1970-89), $171 million
Currency:
Barbadian dollars (plural - dollars); 1 Barbadian dollar (Bds$) = 100 cents
Exchange rates:
Barbadian d