Armenia vs Barbados: Economic Indicators Comparison

Armenia with a GDP of $12.4B ranked the 136th largest economy in the world, while Barbados ranked 157th with $5.1B. By GDP 5-years average growth and GDP per capita, Armenia and Barbados ranked 56th vs 159th and 115th vs 50th, respectively.

Gross Domestic Product & Income

StatArmeniaBarbados
GDP$12.4B$5.1B
GDP growth, 1 year5%-0.5%
GDP growth, 5-years average3.9%0.7%
Population2.9M286k
GDP per capita$4.2k$18k
GDP per capita growth4.95%-0.64%
Purchasing Power Parity conversion factor196.691.93
Price level ratio of PPP conversion factor GDP to market exchange rate0.410.97
GDP per capita, PPP adjusted$10k$19k
GNI, Atlas method$12.5B$4.4B
GNI per capita$4.2k$15k
GNI, PPP adjusted$30.9B$4.7B
GNI per capita, PPP adjusted$10k$16k

Financial system and Human development

StatArmeniaBarbados
Income Tax Rate26%40%
Corporate Tax Rate20%5.5%
Inflation, consumer prices2.5%3.6%
Inflation, GDP deflator2.6%3.6%
Unemployment17.7%9.6%
Economic Freedom Index70.661.4
Personal Freedom Index7.218.22
Human Freedom Index7.427.21
Property Rights Index60.756.6
Judical Effectiveness Index54.136.1
Business Freedom Index8169.4
Fiscal Health Index68.863.1
Labor Freedom Index72.560
Investment Freedom Index7570
Financial Freedom Index7060
Trade Freedom Index80.656.6
Monetary Freedom Index7677.9
Government Spending Index80.669.2
Tax Burden Index84.973.6
Government Integrity Index43.444
Corruption Perceptions Index3568
Life expectancy at birth, years74.879
Suicide mortality rate, per 100,000 people6.60.8
Mortality caused by road traffic injury, per 100,000 people17.15.6
Intentional homicides, per 100,000 people2.410.5
International tourism, number of arrivals1.7M680k

Government debt & reserves

StatArmeniaBarbados
Central government debt, % of GDP48.5%124.5%
External debt stocks, % of GNI87.5%N/A
External debt stocks$11BN/A
Short-term debt, % of total reserves50.2%N/A
Total debt service, % of exports and primary income29.9%N/A
Adjusted net savings including particulate emission damage, % of GNI1.5%-6.8%
Gross savings, % of GDP13.6%-0.5%
Gross capital formation, % of GDP22.4%11.3%
Total reserves including gold$2.3B$431.8M
Foreign direct investment net inflows$254.1M$195.1M

Exports, imports and economic structure

StatArmeniaBarbados
Exports of goods and services, % of GDP37.8%42%
Imports of goods and services, % of GDP53.5%40.9%
Current account balance (balance of payments)-$1.2B-$248.2M
Revenue excluding grants, % of GDP22.5%26.7%
Grants excluding technical cooperation, BoP$111.9M$13.8M
Personal remittances received$1.5B$108.3M
Industry including construction value added, % of GDP25%14%
Agriculture, forestry and fishing value added, % of GDP13.7%1.3%
Charges for the use of intellectual property, payments BoPN/A$12.1M
Charges for the use of intellectual property, receipts BoPN/A$33.4M
Expense, % of GDP22.1%35.2%
Government Expenditure, % of GDP25.4%32%

Compare with countries close by GDP per capita

Armenia vs

CountryGDP
per capita
Population
North Macedonia
$6.1k
2.08M
Bosnia and Herzegovina
$6.1k
3.51M
Namibia
$5.9k
2.53M
Iraq
$5.8k
38.3M
Paraguay
$5.8k
6.81M
Iran
$5.6k
80M
Jamaica
$5.4k
2.89M
Albania
$5.3k
3.02M
Guyana
$5k
778k
Belize
$4.9k
375k
Azerbaijan
$4.7k
10M
Georgia
$4.7k
3.72M
Guatemala
$4.5k
17.3M
Tonga
$4.4k
108k
Jordan
$4.2k
10.4M
Samoa
$4.2k
196k
Eswatini
$4.1k
1.37M
Mongolia
$4.1k
3.08M
Algeria
$4.1k
41.3M
Sri Lanka
$4.1k
21.4M
El Salvador
$4.1k
6.42M
Indonesia
$3.9k
264M
Marshall Islands
$3.8k
53.1k
Tuvalu
$3.7k
11.2k
Cape Verde
$3.6k
546k
Bolivia
$3.5k
11.1M
Tunisia
$3.4k
11.6M
Angola
$3.4k
29.8M
Bhutan
$3.2k
808k
Morocco
$3.2k
36M

Barbados vs

CountryGDP
per capita
Population
Malta
$30k
465k
Cyprus
$28k
1.14M
Slovenia
$26k
2.07M
Taiwan
$25k
23.6M
Bahrain
$24k
1.49M
Portugal
$23k
10.6M
Saudi Arabia
$23k
33M
Estonia
$23k
1.32M
Czech Republic
$23k
10.7M
Vatican City
$21k
1k
Greece
$20k
10.8M
Curacao
$20k
160k
Slovakia
$19k
5.4M
Saint Kitts and Nevis
$19k
55.3k
Lithuania
$19k
2.79M
Latvia
$18k
1.91M
Uruguay
$17k
3.46M
Trinidad and Tobago
$17k
1.37M
Antigua and Barbuda
$17k
102k
Seychelles
$16k
95.8k
Oman
$16k
4.83M
Hungary
$16k
9.94M
Venezuela
$16k
28.5M
Chile
$16k
18.1M
Palau
$16k
21.7k
Panama
$16k
4.1M
Poland
$15k
38.4M
Croatia
$15k
4.11M
Romania
$12k
19.6M
Costa Rica
$12k
4.91M