Gross Domestic Product — Value Standard Local Currency in Barbados
Barbados: Gross Domestic Product — Value Standard Local Currency was 14,330 million SLC in 2024. ◆ Volatile
Gross Domestic Product — Value Standard Local Currency in Barbados, 1970–2024
Source: Food and Agriculture Organization of the United Nations. Measured in million SLC.
Analysis
In 2024, gross domestic product — value standard local currency in Barbados stood at 14,330 million SLC. That is the highest value across all 55 years on record.
That represents a change of up 6.6% on the previous year and up 33.5% over ten years.
Over the whole period, gross domestic product — value standard local currency in Barbados peaked at 14,330 million SLC in 2024 and was at its lowest, 435.97 million SLC, in 1970.
Barbados ranks 182nd of 218 countries on this measure, in the bottom quarter.
The series is highly variable year to year, so single readings are best treated with caution.
Gross Domestic Product — Value Standard Local Currency in Barbados, year by year
| Year | million SLC | Change |
|---|---|---|
| 1970 | 435.97 million SLC | — |
| 1971 | 483.89 million SLC | +11.0% |
| 1972 | 538.54 million SLC | +11.3% |
| 1973 | 670.05 million SLC | +24.4% |
| 1974 | 839.63 million SLC | +25.3% |
| 1975 | 970.43 million SLC | +15.6% |
| 1976 | 1,043 million SLC | +7.5% |
| 1977 | 1,187 million SLC | +13.7% |
| 1978 | 1,328 million SLC | +11.9% |
| 1979 | 1,611 million SLC | +21.3% |
| 1980 | 2,067 million SLC | +28.3% |
| 1981 | 2,275 million SLC | +10.1% |
| 1982 | 2,377 million SLC | +4.5% |
| 1983 | 2,524 million SLC | +6.2% |
| 1984 | 2,751 million SLC | +9.0% |
| 1985 | 2,879 million SLC | +4.7% |
| 1986 | 3,161 million SLC | +9.8% |
| 1987 | 3,480 million SLC | +10.1% |
| 1988 | 3,702 million SLC | +6.4% |
| 1989 | 4,094 million SLC | +10.6% |
| 1990 | 4,109 million SLC | +0.4% |
| 1991 | 4,076 million SLC | -0.8% |
| 1992 | 3,940 million SLC | -3.3% |
| 1993 | 4,156 million SLC | +5.5% |
| 1994 | 4,369 million SLC | +5.1% |
| 1995 | 4,594 million SLC | +5.1% |
| 1996 | 4,899 million SLC | +6.6% |
| 1997 | 5,178 million SLC | +5.7% |
| 1998 | 5,838 million SLC | +12.8% |
| 1999 | 6,118 million SLC | +4.8% |
| 2000 | 6,304 million SLC | +3.1% |
| 2001 | 6,294 million SLC | -0.2% |
| 2002 | 6,401 million SLC | +1.7% |
| 2003 | 6,614 million SLC | +3.3% |
| 2004 | 7,098 million SLC | +7.3% |
| 2005 | 7,871 million SLC | +10.9% |
| 2006 | 8,435 million SLC | +7.2% |
| 2007 | 9,671 million SLC | +14.7% |
| 2008 | 10,244 million SLC | +5.9% |
| 2009 | 9,890 million SLC | -3.5% |
| 2010 | 10,382 million SLC | +5.0% |
| 2011 | 10,684 million SLC | +2.9% |
| 2012 | 10,542 million SLC | -1.3% |
| 2013 | 10,722 million SLC | +1.7% |
| 2014 | 10,732 million SLC | +0.1% |
| 2015 | 10,576 million SLC | -1.5% |
| 2016 | 10,662 million SLC | +0.8% |
| 2017 | 11,035 million SLC | +3.5% |
| 2018 | 11,260 million SLC | +2.0% |
| 2019 | 11,577 million SLC | +2.8% |
| 2020 | 10,337 million SLC | -10.7% |
| 2021 | 10,550 million SLC | +2.1% |
| 2022 | 12,515 million SLC | +18.6% |
| 2023 | 13,442 million SLC | +7.4% |
| 2024 | 14,330 million SLC | +6.6% |
Barbados compared with similar countries
- Barbados's 14,330 million SLC is below the median for high income countries, which is 257,567 million SLC, 6% of the median. (72 countries reporting)
- Barbados's 14,330 million SLC is below the median for Latin America & Caribbean, which is 147,748 million SLC, 10% of the median. (38 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 910.77 million SLC | 435.97 million SLC | 1,611 million SLC | 10 |
| 1980s | 2,931 million SLC | 2,067 million SLC | 4,094 million SLC | 10 |
| 1990s | 4,728 million SLC | 3,940 million SLC | 6,118 million SLC | 10 |
| 2000s | 7,882 million SLC | 6,294 million SLC | 10,244 million SLC | 10 |
| 2010s | 10,817 million SLC | 10,382 million SLC | 11,577 million SLC | 10 |
| 2020s | 12,235 million SLC | 10,337 million SLC | 14,330 million SLC | 5 |
Countries ranked near Barbados
More economy & growth data for Barbados
- Africa's Development Dynamics (AfDD) Table 04 - Annual real GDP 1.99 Percent per annum (2029)
- Africa's Development Dynamics (AfDD) Table 02 - Annual real GDP 2 Percent per annum (2029)
- Foreign direct investment, net outflows (BoP, current US$), gaps 18.57 million BoP, current US$ (2024)
- Foreign direct investment, net outflows (BoP, current US$), per unit 0.0024 BoP, current US$ per US$ of GDP (2024)
- Foreign direct investment, net outflows (BoP, current US$), per capita 65.74 BoP, current US$ per person (2024)
- Foreign direct investment, net inflows (BoP, current US$), gaps filled 303.06 million BoP, current US$ (2024)
- Foreign direct investment, net inflows (BoP, current US$), annual 34.75 % change on previous year (2024)
- Foreign direct investment, net inflows (BoP, current US$), per unit 0.0399 BoP, current US$ per US$ of GDP (2024)
- Foreign direct investment, net inflows (BoP, current US$), per capita 1,073 BoP, current US$ per person (2024)
- Total reserves (includes gold, current US$), annual growth rate 2.97 % change on previous year (2024)
Frequently asked questions
- What is gross domestic product — value standard local currency in Barbados?
- Gross domestic product — value standard local currency in Barbados was 14,330 million SLC in 2024, according to Food and Agriculture Organization of the United Nations.
- What is the highest gross domestic product — value standard local currency recorded in Barbados?
- The highest recorded value was 14,330 million SLC in 2024.
- What is the lowest gross domestic product — value standard local currency recorded in Barbados?
- The lowest recorded value was 435.97 million SLC in 1970.
- How does Barbados rank for gross domestic product — value standard local currency?
- Barbados ranks 182nd out of 218 countries with data for 2024.
- Is gross domestic product — value standard local currency rising or falling in Barbados?
- Over the last ten years it is up 33.5%. The long-run trend across the full record is volatile.
- Where does this Barbados data come from?
- The figures come from Food and Agriculture Organization of the United Nations, published as part of Gross Domestic Product — Value Standard Local Currency. Statizoid updates them automatically from the source API.
Download this data
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About this data
The FAOSTAT Macro Indicators database provides a selection of country-level macro indicators relating to total economy (Gross Domestic Product, Gross Fixed Capital Formation); agriculture activity; agriculture, forestry and fishing activity; total manufacturing activity; manufacturing of food products and beverages activity; manufacturing activity of tobacco products; and manufacturing activity of food, beverage and tobacco products.It releases time series for a selection of National Accounts variables, including gross domestic product, gross fixed capital formation, industry-level value added and gross output. The database also proposes additional indicators such as gross domestic product per capita, year-on-year growth rates and measures of industry contribution to gross domestic product. All data relating to Gross Domestic Product, Gross Fixed Capital Formation, agriculture, forestry and fishing activity, and to total manufacturing activity originates from the United Nations Statistics Division (UNSD) National Accounts Estimates of Main Aggregates database, which consists of a complete and consistent set of time series of the main National Accounts aggregates of all UN Members States and other territories in the world for which National Accounts information is available. The UNSD database's content is based on the countries' official National Accounts data reported to UNSD through the annual National Accounts Questionnaire, supplemented with data estimates for any years and countries with incomplete or inconsistent information (See http://unstats.un.org/unsd/snaama/Introduction.asp). Data series relating to the sub-industry Agriculture activity are obtained from the UNSD national accounts Official Country Data databases while series on the Manufacturing activity of food and beverages products, manufacturing activity of tobacco products and manufacturing activity of food, beverages and tobacco products originates from the United Nations Industrial Development Organization (UNIDO) INDSTAT2 database. In order to ensure that sub-industry series are consistent in levels with National Accounts based series, which is needed to support comparability across industries (agriculture vs. agro-industry and sub-industries), UNIDO originating series are rescaled on UNSD National Accounts Estimates of Main Aggregates data series (See Section 17.5 for a more detailed description of the data processing steps).