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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 111st vs 159th and 13th vs 50th, respectively.

Gross Domestic Product & Income

StatAustraliaBarbados
GDP$1.4T$5.1B
GDP growth, 1 year2.8%-0.5%
GDP growth, 5-years average2.6%0.7%
Population23.4M285k
GDP per capita$57k$18k
GDP per capita growth1.33%-0.64%
Purchasing Power Parity conversion factor1.431.93
Price level ratio of PPP conversion factor GDP to market exchange rate1.110.97
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

StatAustraliaBarbados
Income Tax Rate45%40%
Corporate Tax Rate30%5.5%
Inflation, consumer prices2%3.6%
Inflation, GDP deflator1.9%3.6%
Unemployment5.4%9.6%
Economic Freedom Index82.661.4
Personal Freedom Index9.298.22
Human Freedom Index8.737.21
Property Rights Index82.856.6
Judical Effectiveness Index86.136.1
Business Freedom Index87.869.4
Fiscal Health Index91.863.1
Labor Freedom Index8460
Investment Freedom Index8070
Financial Freedom Index9060
Trade Freedom Index88.256.6
Monetary Freedom Index86.277.9
Government Spending Index61.669.2
Tax Burden Index6373.6
Government Integrity Index89.344
Corruption Perceptions Index7768
Life expectancy at birth, years82.579
Suicide mortality rate, per 100,000 people13.20.8
Mortality caused by road traffic injury, per 100,000 people5.65.6
Intentional homicides, per 100,000 people0.810.5
International tourism, number of arrivals9.2M680k

Government debt & reserves

StatAustraliaBarbados
Central government debt, % of GDP40.7%124.5%
External debt stocks, % of GNIN/AN/A
External debt stocksN/AN/A
Short-term debt, % of total reservesN/AN/A
Total debt service, % of exports and primary incomeN/AN/A
Adjusted net savings including particulate emission damage, % of GNI5.6%-6.8%
Gross savings, % of GDP21.7%-0.5%
Gross capital formation, % of GDP24.5%11.3%
Total reserves including gold$53.9B$431.8M
Foreign direct investment net inflows$60.3B$195.1M

Exports, imports and economic structure

StatAustraliaBarbados
Exports of goods and services, % of GDP21.8%42%
Imports of goods and services, % of GDP21.4%40.9%
Current account balance (balance of payments)-$29.7B-$248.2M
Revenue excluding grants, % of GDP25.7%26.7%
Grants excluding technical cooperation, BoPN/A$13.8M
Personal remittances received$1.9B$108.3M
Industry including construction value added, % of GDP24.1%14%
Agriculture, forestry and fishing value added, % of GDP2.5%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 GDP26.1%35.2%
Government Expenditure, % of GDP35.8%32%

Compare with countries close by GDP per capita

Australia vs

CountryGDP
per capita
Population
Liechtenstein
$165k
37.9k
Luxembourg
$117k
614k
Switzerland
$83k
8.21M
Norway
$82k
5.33M
Cayman Islands
$81k
58.4k
Ireland
$79k
4.76M
Iceland
$73k
357k
Qatar
$69k
2.17M
Singapore
$65k
5.89M
United States
$63k
325M
Denmark
$61k
5.83M
Sweden
$55k
10.3M
Netherlands
$53k
17.2M
Austria
$51k
8.81M
Finland
$50k
5.5M
San Marino
$48k
31.6k
Germany
$48k
83M
Belgium
$48k
11.2M
Canada
$46k
35.7M
United Arab Emirates
$43k
9.35M
United Kingdom
$43k
65.1M
Andorra
$42k
76.2k
New Zealand
$42k
4.89M
Israel
$42k
8.89M
France
$41k
66.6M
Japan
$39k
127M
Italy
$34k
60.6M
Kuwait
$34k
4.66M
Bahamas
$32k
377k
Brunei
$32k
418k

Barbados vs

CountryGDP
per capita
Population
Malta
$30k
423k
Cyprus
$28k
1.14M
Slovenia
$26k
2.07M
Taiwan
$25k
23.6M
Bahrain
$24k
1.33M
Portugal
$23k
10.6M
Saudi Arabia
$23k
33M
Estonia
$23k
1.32M
Czech Republic
$23k
10.6M
Vatican City
$21k
1k
Greece
$20k
10.8M
Curacao
$20k
160k
Slovakia
$19k
5.44M
Saint Kitts and Nevis
$19k
54.2k
Lithuania
$19k
2.79M
Latvia
$18k
1.95M
Uruguay
$17k
3.41M
Trinidad and Tobago
$17k
1.34M
Antigua and Barbuda
$17k
101k
Seychelles
$16k
95.8k
Oman
$16k
3.63M
Hungary
$16k
9.97M
Venezuela
$16k
28.5M
Chile
$16k
18.1M
Palau
$16k
20.9k
Panama
$16k
3.86M
Poland
$15k
38.5M
Croatia
$15k
4.11M
Romania
$12k
19.6M
Costa Rica
$12k
4.87M