Total factor productivity in Barbados
Barbados: Total factor productivity was 1.18 in 2023. ▼ Falling
Total factor productivity in Barbados, 1964–2023
Source: Feenstra et al. - Penn World Table (2025) – with major processing by 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.
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
- Inflation of consumer prices 0.8% (2025)
- GDP per capita 23,014 constant 2015 US$ (2025)
- Share of manufacturing in gross domestic product (GDP) 4.9% (2024)
- Gross domestic product (GDP) 6.50 billion constant 2015 US$ (2025)
- GDP per capita in international and market dollars 23,014 constant 2015 US$ (2025)
- DEC alternative conversion factor 2 LCU per US$ (2025)
- Net secondary income (Net current transfers from abroad) 181.00 million current LCU (2025)
- Net secondary income (Net current transfers from abroad) 90.50 million current US$ (2025)
- Taxes less subsidies on products 1.67 billion current LCU (2025)
- Taxes less subsidies on products 833.40 million current US$ (2025)
Frequently asked questions
- What is total factor productivity in Barbados?
- Total factor productivity in Barbados was 1.18 in 2023, according to Feenstra et al. - Penn World Table (2025) – with major processing by 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 Feenstra et al. - Penn World Table (2025) – with major processing by 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).
About this data
This is the level of total factor productivity, relative to each country's value in 2021 (which is set to 1). This data is adjusted for inflation and differences in living costs between countries.