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Research Library: Barbados

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Last Updated Nov 05, 2009

Country Information

Barbados is a parliamentary democracy and an independent sovereign state within the Commonwealth of England realm. The English monarch serves as the chief of state represented by a governor general, who is appointed by the monarch. The prime minister, who serves as head of government, is the leader of the majority party and is appointed by the governor general following legislative elections. Barbados has a bicameral parliament which consists of the Senate and the House of Assembly. The Senate contains 21 members appointed by the governor general on recommendations of the prime minister, the opposition leader, and his own discretion. The House of Assembly contains 30 seats and members are elected by direct popular vote to a five-year term.
The chief of state of Barbados is Queen Elizabeth the II. She is represented by Governor General Sir Clifford Straughn Husbands, who has served since 1996. The current prime minister, as of June 2008, is David Thompson of the Democratic Labor Party (DLP). The DLP has held the majority in the House of Assembly since elections in January 2008.

The island of Barbados was settled by the British in 1627. The majority of Barbadians today are descended from African slaves brought to the British colony until 1834, when slavery was abolished. The island's culture and customs today has evidence of its dual heritage—English and African. The gradual introduction of social and political reforms in the 1940s and 1950s led to complete independence from the United Kingdom in 1966. Barbados remains part of the Commonwealth.
Barbados has a reputation of having one of the highest standards of living in the developing world. This is due in great part to its relative political, economic, and social stability.

The new prime minister is concerned with the high cost of living, health care, and transport infrastructure. The government continues its efforts to reduce unemployment, encourage direct foreign investment, and privatize remaining state-owned industries.

In addition to its membership in the 54-state Commonwealth, Barbados is a member of the UN, the World Trade Organization (WTO) and International Monetary Fund (IMF), and the Organization of American States (OAS). Barbados is one of many Caribbean trans-shipment points for narcotics bound for Europe and the United States. High unemployment has driven many Barbadians to seek employment abroad.

The economy was dependent on sugarcane cultivation and related activities until the 1990s when tourism and manufacturing surpassed the sugar industry in economic importance. Offshore finance and information services are important foreign exchange earners. The economy contracted in 2001 and 2002 due to slowdowns in tourism, consumer spending and the impact of the September 11, 2001 attacks. The economy rebounded in 2003 and showed growth for 2004. Traditional trading partners include Canada, the Caribbean Community (especially Trinidad and Tobago), the United Kingdom, and the United States.
Barbados benefits economically from sharing the same time zone as the American financial centers and a highly education workforce. The government continues to focus on lower unemployment, privatizing businesses and increasing foreign investment. The global economic downturn of 2008 has slowed growth and revenues from the tourism sector.

Barbados is a net recipient of official development assistance. For more information see the OECD Aid at a Glance chart.

Demographic
Population	290 thousand	2006
Population Age 15 and Younger (As % of total)	18.9%	2005
Population Age 65 and Older (As % of total)	9.2%	2005
Population Growth Rate	0.3%	2006
Life Expectancy	75 years	2006
Life Expectancy (male)	72 years	2006
Life Expectancy (female)	79 years	2006
Urban Population (As % of total)	52.7%	2005

Economic
Gross Domestic Product (In US$)	$3.92 billion	2008
Gross Domestic Product per capita (In US$)	$13,801	2008
Economic Inequality (Ratio of income/consumption of richest 10% to poorest 10%)	Not Available
National Budget (In US$)	$850 million	2000
Total Debt Service as % of GDP	3.1%	2005
Imports (In US$)	$1.71 billion	2007
Exports (In US$)	$450 million	2007
Foreign Direct Investment Inflows (In US$)	$40 million	2006
Unemployment Rate (As % of labor force)	10%	2004
Carbon Dioxide Emissions (% share of world total)	0%	2004

Military
Military Expenditures (In US$)	$20 million	2006
Military Expenditures as % of GDP	0.5%	2006

Social
Human Development Index	0.89	2005
HIV Prevalence (Ages 15-49)	1.5%	2005
Literacy Rate (Age 15 and above)	99.7%	2002
Internet Users (per 1,000 people)	594	2005