Navigator
Barbados
(information)
Population as of 2020: 287,000 173 of 193
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Region: Caribbean Islands
Nominal G.D.P. in 2024: $7.17 billion 155 of 193
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Top Exports
Total exports: **~$460–494 million (2024)**
**Mixed economy:** energy products + manufactured goods + food/beverages
| Rank | Export Category | Notes |
| ---- | ------------------------------------------ | ------------------------------------------------------------- |
| 1 | **Mineral fuels (refined petroleum)** ⭐ | ~35%+ of exports; largest sector |
| 2 | **Beverages (rum, spirits)** | Iconic export (~13%) |
| 3 | **Pharmaceuticals** | ~6–7%; strong manufacturing niche |
| 4 | **Animal/vegetable fats & oils** | Includes margarine, oils |
| 5 | **Food preparations (cereal, milk-based)** | Processed foods |
| 6 | **Paper & paperboard products** | Packaging materials |
| 7 | **Chemical products (misc.)** | Industrial chemicals |
| 8 | **Gems & precious metals (jewelry)** | Small but notable |
| 9 | **Iron & steel products** | Industrial exports |
| 10 | **Vehicles** | Re-exports and small manufacturing |
Key individual export products (by value)
| Rank | Product | Notes |
| ---- | ------------------------------------------------- | ------------------------------------------- |
| 11 | **Refined petroleum oils** | #1 export (~$170M+) |
| 12 | **Rum (hard liquor)** | Signature export (~$40M+) |
| 13 | **Packaged medicaments** | Pharmaceutical export (~$25–30M) |
| 14 | **Petroleum derivatives (e.g., petroleum ether)** | Major fuel export |
| 15 | **Margarine & edible fats** | Food-processing export |
| 16 | **Prepared food products (cereal/milk-based)** | Consumer goods |
| 17 | **Paper packaging materials** | Industrial use |
| 18 | **Jewelry (precious metals)** | Niche export |
| 19 | **Motor vehicles (cars)** | Often re-exports |
| 20 | **Chemical preparations (industrial)** | Small but diverse |
Key Takeaways
* 🛢️ **Refined petroleum dominates**
* Barbados exports **refined fuels**, not crude oil, due to its refining activity
* 🍹 **Rum is globally important**
* One of the country’s most recognizable exports
* 💊 **Pharmaceuticals are a key niche**
* Barbados has a **small but significant manufacturing base**
* 🏭 **Mixed industrial + consumer goods economy**
* Includes:
* chemicals
* processed foods
* packaging
* 🔁 **Some re-export activity**
* Vehicles and certain goods reflect **trade hub behavior**
* ⚠️ **Small export base overall**
* Goods exports are relatively small because:
* services (tourism) dominate the economy
Top Importers of Barbados’ Exports (2024)
| Rank | Country | Notes |
| ---- | ----------------------- | -------------------------------------------------------- |
| 1 | **United States** | Largest partner (~30–40%+); fuels, rum, pharmaceuticals. |
| 2 | **Trinidad and Tobago** | Regional energy and industrial trade. |
| 3 | **Jamaica** | Caribbean trade; fuels and food products. |
| 4 | **Guyana** | Growing regional market (oil-driven economy). |
| 5 | **Saint Lucia** | Regional trade partner. |
| 6 | **Grenada** | Small-scale regional trade. |
| 7 | **United Kingdom** | Rum and niche exports. |
| 8 | **Canada** | Rum and processed goods. |
| 9 | **Suriname** | Regional trade. |
| 10 | **Dominica** | Small Caribbean trade flows. |
Key Patterns
* 🇺🇸 **United States dominates**
* Largest buyer due to:
* proximity
* strong economic ties
* demand for:
* rum
* refined fuels
* pharmaceuticals
* 🌴 **Regional Caribbean trade is very important**
* Countries like **Trinidad & Tobago, Jamaica, Guyana** form a **regional export network**
* 🍹 **Rum drives global niche exports**
* Exported mainly to:
* U.S.
* UK
* Canada
* 🛢️ **Refined fuels shape regional trade**
* Supplied to neighboring Caribbean economies
