Total factor productivity in Barbados
Barbados: Total factor productivity was 1.18 in 2023. ▼ Falling
Latest (2023)
1.18
Change on year
up 2.7%
World rank
4th
of 120 countries
All-time high
1.46
in 1980
All-time low
0.9606
in 1964
Years of data
60
1964–2023
Total factor productivity in Barbados, 1964–2023
Source: Our World in Data.
Analysis
In 2023, total factor productivity in Barbados stood at 1.18.
Compared with earlier readings it is up 2.7% on the previous year and down 0.5% over ten years.
Over the whole period, total factor productivity in Barbados peaked at 1.46 in 1980 and was at its lowest, 0.9606, in 1964.
That places Barbados 4th out of 120 countries with data for 2023, putting it in the top 10%.
The long-run direction has been consistently falling across the 60 years of available data.
Total factor productivity in Barbados, year by year
| Year | Value | Change |
|---|---|---|
| 1964 | 0.9606 | — |
| 1965 | 1.01 | +5.2% |
| 1966 | 0.9932 | -1.8% |
| 1967 | 1.1 | +10.6% |
| 1968 | 1.13 | +2.9% |
| 1969 | 1.18 | +4.8% |
| 1970 | 1.26 | +6.8% |
| 1971 | 1.32 | +4.0% |
| 1972 | 1.33 | +0.8% |
| 1973 | 1.34 | +0.9% |
| 1974 | 1.28 | -4.1% |
| 1975 | 1.35 | +5.0% |
| 1976 | 1.33 | -1.5% |
| 1977 | 1.38 | +3.9% |
| 1978 | 1.43 | +3.8% |
| 1979 | 1.41 | -1.1% |
| 1980 | 1.46 | +3.4% |
| 1981 | 1.39 | -5.3% |
| 1982 | 1.32 | -4.5% |
| 1983 | 1.31 | -0.9% |
| 1984 | 1.35 | +2.9% |
| 1985 | 1.35 | -0.2% |
| 1986 | 1.36 | +0.9% |
| 1987 | 1.35 | -0.7% |
| 1988 | 1.34 | -0.6% |
| 1989 | 1.29 | -4.1% |
| 1990 | 1.25 | -2.7% |
| 1991 | 1.18 | -6.1% |
| 1992 | 1.14 | -3.3% |
| 1993 | 1.19 | +5.0% |
| 1994 | 1.16 | -2.8% |
| 1995 | 1.09 | -6.2% |
| 1996 | 1.08 | -0.7% |
| 1997 | 1.09 | +1.2% |
| 1998 | 1.08 | -1.3% |
| 1999 | 1.04 | -3.4% |
| 2000 | 1.05 | +0.8% |
| 2001 | 1.01 | -3.9% |
| 2002 | 1.02 | +1.0% |
| 2003 | 1.03 | +1.0% |
| 2004 | 1.01 | -1.5% |
| 2005 | 1.03 | +1.8% |
| 2006 | 1.09 | +5.8% |
| 2007 | 1.13 | +3.7% |
| 2008 | 1.19 | +4.9% |
| 2009 | 1.22 | +2.3% |
| 2010 | 1.24 | +1.6% |
| 2011 | 1.21 | -2.3% |
| 2012 | 1.21 | +0.6% |
| 2013 | 1.18 | -2.7% |
| 2014 | 1.18 | -0.2% |
| 2015 | 1.13 | -4.1% |
| 2016 | 1.11 | -1.6% |
| 2017 | 1.14 | +2.3% |
| 2018 | 1.13 | -0.5% |
| 2019 | 1.16 | +2.8% |
| 2020 | 1.02 | -12.5% |
| 2021 | 1 | -1.9% |
| 2022 | 1.15 | +14.5% |
| 2023 | 1.18 | +2.7% |
Barbados compared with similar countries
- Barbados's 1.18 is above the median for high income countries, which is 0.994, 1.2× the median. (52 countries reporting)
- Barbados's 1.18 is above the median for Latin America & Caribbean, which is 1, 1.2× the median. (21 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1960s | 1.06 | 0.9606 | 1.18 | 6 |
| 1970s | 1.34 | 1.26 | 1.43 | 10 |
| 1980s | 1.35 | 1.29 | 1.46 | 10 |
| 1990s | 1.13 | 1.04 | 1.25 | 10 |
| 2000s | 1.08 | 1.01 | 1.22 | 10 |
| 2010s | 1.17 | 1.11 | 1.24 | 10 |
| 2020s | 1.09 | 1 | 1.18 | 4 |
Countries ranked near Barbados
More economy & growth data for Barbados
- Real gdp growth, annual growth rate 85.61 % change on previous year (2024)
- 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)
- SDRs holdings, US dollar, annual growth rate -64.37 % change on previous year (2025)
- SDRs holdings, US dollar, per unit of GDP 0.002 units per US$ of GDP (2025)
- SDRs holdings, US dollar, per capita 55.55 units per person (2025)
- SDRs holdings, SDR, annual growth rate -66.07 % change on previous year (2025)
- SDRs holdings, SDR, per unit of GDP 0.0014 units per US$ of GDP (2025)
- SDRs holdings, SDR, per capita 40.56 units per person (2025)
- IMF holdings of currency, US dollar, annual growth rate -18.55 % change on previous year (2025)
Frequently asked questions
- What is total factor productivity in Barbados?
- Total factor productivity in Barbados was 1.18 in 2023, according to Our World in Data.
- What is the highest total factor productivity recorded in Barbados?
- The highest recorded value was 1.46 in 1980.
- What is the lowest total factor productivity recorded in Barbados?
- The lowest recorded value was 0.9606 in 1964.
- How does Barbados rank for total factor productivity?
- Barbados ranks 4th out of 120 countries with data for 2023.
- Is total factor productivity rising or falling in Barbados?
- Over the last ten years it is down 0.5%. The long-run trend across the full record is falling.
- Where does this Barbados data come from?
- The figures come from Our World in Data, published as part of Total factor productivity. Statizoid updates them automatically from the source API.
Download this data
CSV · JSON — 60 observations, free to reuse under CC BY 4.0 (Our World in Data).