Australia vs Barbados: Economic Indicators Comparison

Australia with a GDP of $1.4T ranked the 13th largest economy in the world, while Barbados ranked 157th with $5.1B. By GDP 5-years average growth and GDP per capita, Australia and Barbados ranked 111th vs 159th and 13th vs 50th, respectively.

Gross Domestic Product & Income

Stat	Australia	Barbados
GDP	$1.4T	$5.1B
GDP growth, 1 year	2.8%	-0.5%
GDP growth, 5-years average	2.6%	0.7%
Population	24.5M	286k
GDP per capita	$57k	$18k
GDP per capita growth	1.33%	-0.64%
Purchasing Power Parity conversion factor	1.43	1.93
Price level ratio of PPP conversion factor GDP to market exchange rate	1.11	0.97
GDP per capita, PPP adjusted	$52k	$19k
GNI, Atlas method	$1.3T	$4.4B
GNI per capita	$53k	$15k
GNI, PPP adjusted	$1.3T	$4.7B
GNI per capita, PPP adjusted	$50k	$16k

Financial system and Human development

Stat	Australia	Barbados
Income Tax Rate	45%	40%
Corporate Tax Rate	30%	5.5%
Inflation, consumer prices	2%	3.6%
Inflation, GDP deflator	1.9%	3.6%
Unemployment	5.4%	9.6%
Economic Freedom Index	82.6	61.4
Personal Freedom Index	9.29	8.22
Human Freedom Index	8.73	7.21
Property Rights Index	82.8	56.6
Judical Effectiveness Index	86.1	36.1
Business Freedom Index	87.8	69.4
Fiscal Health Index	91.8	63.1
Labor Freedom Index	84	60
Investment Freedom Index	80	70
Financial Freedom Index	90	60
Trade Freedom Index	88.2	56.6
Monetary Freedom Index	86.2	77.9
Government Spending Index	61.6	69.2
Tax Burden Index	63	73.6
Government Integrity Index	89.3	44
Corruption Perceptions Index	77	68
Life expectancy at birth, years	82.5	79
Suicide mortality rate, per 100,000 people	13.2	0.8
Mortality caused by road traffic injury, per 100,000 people	5.6	5.6
Intentional homicides, per 100,000 people	0.8	10.5
International tourism, number of arrivals	9.2M	680k

Government debt & reserves

Stat	Australia	Barbados
Central government debt, % of GDP	40.7%	124.5%
External debt stocks, % of GNI	N/A	N/A
External debt stocks	N/A	N/A
Short-term debt, % of total reserves	N/A	N/A
Total debt service, % of exports and primary income	N/A	N/A
Adjusted net savings including particulate emission damage, % of GNI	5.6%	-6.8%
Gross savings, % of GDP	21.7%	-0.5%
Gross capital formation, % of GDP	24.5%	11.3%
Total reserves including gold	$53.9B	$431.8M
Foreign direct investment net inflows	$60.3B	$195.1M

Exports, imports and economic structure

Stat	Australia	Barbados
Exports of goods and services, % of GDP	21.8%	42%
Imports of goods and services, % of GDP	21.4%	40.9%
Current account balance (balance of payments)	-$29.7B	-$248.2M
Revenue excluding grants, % of GDP	25.7%	26.7%
Grants excluding technical cooperation, BoP	N/A	$13.8M
Personal remittances received	$1.9B	$108.3M
Industry including construction value added, % of GDP	24.1%	14%
Agriculture, forestry and fishing value added, % of GDP	2.5%	1.3%
Charges for the use of intellectual property, payments BoP	$3.6B	$12.1M
Charges for the use of intellectual property, receipts BoP	$973.4M	$33.4M
Expense, % of GDP	26.1%	35.2%
Government Expenditure, % of GDP	35.8%	32%