Industry (including construction), value added in Barbados
Barbados: Industry (including construction), value added was 1.87 billion constant LCU in 2024. ▼ Falling
Industry (including construction), value added in Barbados, 1975–2024
Source: Country official statistics, National Statistical Offices (NSOs). Measured in constant LCU.
Analysis
Barbados recorded 1.87 billion constant LCU for industry (including construction), value added in 2024.
That represents a change of up 5.1% on the previous year and up 1.8% over ten years.
Over the whole period, industry (including construction), value added in Barbados peaked at 2.48 billion constant LCU in 2008 and was at its lowest, 1.65 billion constant LCU, in 1975.
That places Barbados 167th out of 200 countries with data for 2024, putting it in the bottom quarter.
The long-run direction has been consistently falling across the 50 years of available data.
Industry (including construction), value added in Barbados, year by year
| Year | constant LCU | Change |
|---|---|---|
| 1975 | 1.65 billion constant LCU | — |
| 1976 | 1.90 billion constant LCU | +15.5% |
| 1977 | 1.87 billion constant LCU | -1.5% |
| 1978 | 2.05 billion constant LCU | +9.3% |
| 1979 | 2.16 billion constant LCU | +5.3% |
| 1980 | 2.24 billion constant LCU | +3.8% |
| 1981 | 2.21 billion constant LCU | -1.4% |
| 1982 | 2.06 billion constant LCU | -6.8% |
| 1983 | 2.11 billion constant LCU | +2.6% |
| 1984 | 2.15 billion constant LCU | +1.8% |
| 1985 | 2.01 billion constant LCU | -6.1% |
| 1986 | 2.13 billion constant LCU | +5.8% |
| 1987 | 2.09 billion constant LCU | -2.2% |
| 1988 | 2.23 billion constant LCU | +7.2% |
| 1989 | 2.36 billion constant LCU | +5.8% |
| 1990 | 2.26 billion constant LCU | -4.6% |
| 1991 | 2.14 billion constant LCU | -4.9% |
| 1992 | 1.87 billion constant LCU | -12.6% |
| 1993 | 1.90 billion constant LCU | +1.4% |
| 1994 | 1.91 billion constant LCU | +0.7% |
| 1995 | 2.03 billion constant LCU | +6.3% |
| 1996 | 2.15 billion constant LCU | +5.7% |
| 1997 | 2.30 billion constant LCU | +7.2% |
| 1998 | 2.16 billion constant LCU | -6.3% |
| 1999 | 2.18 billion constant LCU | +1.3% |
| 2000 | 2.17 billion constant LCU | -0.7% |
| 2001 | 2.13 billion constant LCU | -1.9% |
| 2002 | 2.22 billion constant LCU | +4.2% |
| 2003 | 2.21 billion constant LCU | -0.5% |
| 2004 | 2.26 billion constant LCU | +2.6% |
| 2005 | 2.42 billion constant LCU | +7.0% |
| 2006 | 2.33 billion constant LCU | -3.8% |
| 2007 | 2.33 billion constant LCU | -0.1% |
| 2008 | 2.48 billion constant LCU | +6.5% |
| 2009 | 2.11 billion constant LCU | -14.8% |
| 2010 | 1.90 billion constant LCU | -10.0% |
| 2011 | 1.88 billion constant LCU | -0.7% |
| 2012 | 1.86 billion constant LCU | -1.4% |
| 2013 | 1.84 billion constant LCU | -1.1% |
| 2014 | 1.83 billion constant LCU | -0.3% |
| 2015 | 1.89 billion constant LCU | +3.0% |
| 2016 | 1.87 billion constant LCU | -0.8% |
| 2017 | 1.89 billion constant LCU | +0.8% |
| 2018 | 1.81 billion constant LCU | -4.1% |
| 2019 | 1.81 billion constant LCU | +0.1% |
| 2020 | 1.71 billion constant LCU | -5.4% |
| 2021 | 1.72 billion constant LCU | +0.3% |
| 2022 | 1.85 billion constant LCU | +7.6% |
| 2023 | 1.78 billion constant LCU | -4.0% |
| 2024 | 1.87 billion constant LCU | +5.1% |
Barbados compared with similar countries
- Barbados's 1.87 billion constant LCU is below the median for high income countries, which is 57.24 billion constant LCU, 3% of the median. (70 countries reporting)
- Barbados's 1.87 billion constant LCU is below the median for Latin America & Caribbean, which is 29.90 billion constant LCU, 6% of the median. (37 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 1.93 billion constant LCU | 1.65 billion constant LCU | 2.16 billion constant LCU | 5 |
| 1980s | 2.16 billion constant LCU | 2.01 billion constant LCU | 2.36 billion constant LCU | 10 |
| 1990s | 2.09 billion constant LCU | 1.87 billion constant LCU | 2.30 billion constant LCU | 10 |
| 2000s | 2.26 billion constant LCU | 2.11 billion constant LCU | 2.48 billion constant LCU | 10 |
| 2010s | 1.86 billion constant LCU | 1.81 billion constant LCU | 1.90 billion constant LCU | 10 |
| 2020s | 1.78 billion constant LCU | 1.71 billion constant LCU | 1.87 billion constant LCU | 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 industry (including construction), value added in Barbados?
- Industry (including construction), value added in Barbados was 1.87 billion constant LCU in 2024, according to Country official statistics, National Statistical Offices (NSOs).
- What is the highest industry (including construction), value added recorded in Barbados?
- The highest recorded value was 2.48 billion constant LCU in 2008.
- What is the lowest industry (including construction), value added recorded in Barbados?
- The lowest recorded value was 1.65 billion constant LCU in 1975.
- How does Barbados rank for industry (including construction), value added?
- Barbados ranks 167th out of 200 countries with data for 2024.
- Is industry (including construction), value added rising or falling in Barbados?
- Over the last ten years it is up 1.8%. The long-run trend across the full record is falling.
- Where does this Barbados data come from?
- The figures come from Country official statistics, National Statistical Offices (NSOs), published as part of Industry (including construction), value added (constant LCU). Statizoid updates them automatically from the source API.
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About this data
Industry (including construction) corresponds to ISIC (Rev.4) divisions 05-43. It is comprised of mining, manufacturing, construction, electricity, water, and gas industries. Value added is the contribution to the economy by a producer or an industry or an institutional sector, which is estimated by the total value of output produced and deducting the total value of intermediate consumption of goods and services used to produce that output. This indicator is expressed in constant prices, meaning the series has been adjusted to account for price changes over time. The reference year for this adjustment varies by country. This series is expressed in local currency units.