Barbados has a GDP of $7.5B compared to $7.24B for the Cayman Islands, ranking 157/197 and 158/197 by economy size, respectively.
Barbados vs Cayman Islands GDP by year
| Year | GDP, current $ | |
|---|---|---|
Barbados
|
Cayman Islands
|
|
| 2024 | $7,498,050,000 | - |
| 2023 | $7,223,250,000 | $7,241,244,269 |
| 2022 | $6,884,900,000 | $6,660,161,212 |
| 2021 | $5,947,550,000 | $6,060,813,808 |
| 2020 | $5,407,050,000 | $5,655,357,984 |
| 2019 | $6,161,850,000 | $5,941,896,600 |
| 2018 | $6,001,950,000 | $5,530,178,499 |
| 2017 | $5,683,150,000 | $5,166,281,293 |
| 2016 | $5,674,600,000 | $4,909,322,200 |
| 2015 | $5,698,150,000 | $4,708,167,255 |
| 2014 | $5,620,600,000 | $4,562,853,582 |
| 2013 | $5,667,200,000 | $4,405,796,081 |
| 2012 | $5,761,450,000 | $4,291,004,486 |
| 2011 | $5,663,100,000 | $4,186,073,160 |
| 2010 | $5,672,900,000 | $4,156,841,164 |
| 2009 | $4,466,809,600 | $4,281,714,618 |
| 2008 | $4,790,410,400 | $4,585,948,969 |
| 2007 | $4,675,767,950 | $4,466,278,031 |
| 2006 | $4,217,323,400 | $4,200,288,282 |
| 2005 | $3,819,500,000 | - |
| 2004 | $3,444,500,000 | - |
| 2003 | $3,209,500,000 | - |
| 2002 | $3,106,500,000 | - |
| 2001 | $3,054,500,000 | - |
| 2000 | $3,059,500,000 | - |
| 1999 | $2,951,822,205 | - |
| 1998 | $2,817,083,478 | - |
| 1997 | $2,498,384,130 | - |
| 1996 | $2,363,645,403 | - |
| 1995 | $2,216,974,096 | - |
| 1994 | $2,151,344,901 | - |
| 1993 | $2,063,342,117 | - |
| 1992 | $1,957,000,000 | - |
| 1991 | $2,020,583,702 | - |
| 1990 | $2,012,131,457 | - |
| 1989 | $2,006,165,167 | - |
| 1988 | $1,812,757,918 | - |
| 1987 | $1,704,370,308 | - |
| 1986 | $1,547,755,183 | - |
| 1985 | $1,409,536,121 | - |
| 1984 | $1,346,890,071 | - |
| 1983 | $1,236,016,507 | - |
| 1982 | $1,163,923,830 | - |
| 1981 | $1,114,204,743 | - |
| 1980 | $1,012,280,615 | - |
| 1979 | $670,362,452 | - |
| 1978 | $552,883,707 | - |
| 1977 | $495,097,668 | - |
| 1976 | $435,911,269 | - |
| 1975 | $402,178,605 | - |
| 1974 | $311,804,630 | - |
| 1973 | $260,767,828 | - |
| 1972 | $213,725,217 | - |
| 1971 | $186,826,503 | - |
| 1970 | $166,210,203 | - |
| 1969 | $141,393,142 | - |
| 1968 | $125,733,669 | - |
| 1967 | $125,554,009 | - |
| 1966 | $113,195,123 | - |
| 1965 | $105,021,997 | - |
| 1964 | $99,252,731 | - |
| 1963 | $99,893,761 | - |
| 1962 | $88,782,583 | - |
| 1961 | $85,363,759 | - |
| 1960 | $80,021,847 | - |
Data sources: World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06).
GeoRank.org/economy/barbados/cayman-islands | CC BY 
GDP per capita in Barbados vs Cayman Islands by year
| Year | Current $ | |||
|---|---|---|---|---|
|
Barbados
|
Cayman Islands
|
|||
| GDP per capita | GDP per capita, PPP | GDP per capita | GDP per capita, PPP | |
| 2024 | $26,545 | $24,823 | - | - |
| 2023 | $25,584 | $23,660 | $99,144 | $88,428 |
| 2022 | $24,387 | $22,193 | $93,031 | $82,296 |
| 2021 | $21,080 | $17,683 | $86,450 | $74,160 |
| 2020 | $19,194 | $16,555 | $82,339 | $66,119 |
| 2019 | $21,912 | $19,971 | $88,254 | $72,697 |
| 2018 | $21,381 | $19,777 | $83,866 | $71,812 |
| 2017 | $20,285 | $18,437 | $80,054 | $68,018 |
| 2016 | $20,296 | $19,176 | $77,802 | $65,680 |
| 2015 | $20,424 | $19,186 | $76,379 | $64,009 |
| 2014 | $20,193 | $18,595 | $75,845 | $63,561 |
| 2013 | $20,410 | $19,032 | $75,114 | $63,648 |
| 2012 | $20,804 | $19,605 | $75,102 | $64,727 |
| 2011 | $20,508 | $20,316 | $75,281 | $66,629 |
| 2010 | $20,611 | $20,033 | $76,838 | $66,325 |
| 2009 | $16,295 | $20,324 | $81,374 | $69,254 |
| 2008 | $17,566 | $21,376 | $89,655 | $76,297 |
| 2007 | $17,235 | $20,949 | $89,888 | $77,337 |
| 2006 | $15,620 | $20,076 | $87,085 | $75,191 |
| 2005 | $14,214 | $18,450 | - | - |
| 2004 | $12,886 | $17,299 | - | - |
| 2003 | $12,076 | $16,707 | - | - |
| 2002 | $11,760 | $16,133 | - | - |
| 2001 | $11,640 | $15,866 | - | - |
| 2000 | $11,675 | $15,914 | - | - |
| 1999 | $11,244 | $14,873 | - | - |
| 1998 | $10,734 | $14,621 | - | - |
| 1997 | $9,522 | $13,941 | - | - |
| 1996 | $9,012 | $13,090 | - | - |
| 1995 | $8,460 | $12,375 | - | - |
| 1994 | $8,223 | $11,900 | - | - |
| 1993 | $7,905 | $11,448 | - | - |
| 1992 | $7,519 | $11,127 | - | - |
| 1991 | $7,790 | $11,576 | - | - |
| 1990 | $7,781 | $11,687 | - | - |
| 1989 | $7,773 | - | - | - |
| 1988 | $7,033 | - | - | - |
| 1987 | $6,625 | - | - | - |
| 1986 | $6,031 | - | - | - |
| 1985 | $5,510 | - | - | - |
| 1984 | $5,284 | - | - | - |
| 1983 | $4,866 | - | - | - |
| 1982 | $4,599 | - | - | - |
| 1981 | $4,417 | - | - | - |
| 1980 | $4,025 | - | - | - |
| 1979 | $2,668 | - | - | - |
| 1978 | $2,198 | - | - | - |
| 1977 | $1,968 | - | - | - |
| 1976 | $1,734 | - | - | - |
| 1975 | $1,601 | - | - | - |
| 1974 | $1,243 | - | - | - |
| 1973 | $1,042 | - | - | - |
| 1972 | $856 | - | - | - |
| 1971 | $750 | - | - | - |
| 1970 | $666 | - | - | - |
| 1969 | $567 | - | - | - |
| 1968 | $506 | - | - | - |
| 1967 | $508 | - | - | - |
| 1966 | $462 | - | - | - |
| 1965 | $433 | - | - | - |
| 1964 | $414 | - | - | - |
| 1963 | $421 | - | - | - |
| 1962 | $377 | - | - | - |
| 1961 | $366 | - | - | - |
| 1960 | $347 | - | - | - |
Data sources: World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06).
GeoRank.org/economy/barbados/cayman-islands | CC BY
Barbados' GDP per capita is $26,545, ranking 46/197, compared to $99,144 in the Cayman Islands, ranking 6/197. Adjusted for purchasing power (GDP per capita PPP), Barbados ranks 84th at $24,823, while the Cayman Islands ranks 10th at $88,428.
Economic indicators
|
Barbados
|
Cayman Islands
|
|
|---|---|---|
| Gross domestic product |
$7.5B
2024 |
$7.24B
2023 |
| GDP rank |
157/197
2024 |
158/197
2023 |
| GDP growth |
2.48%
2023-2024 |
5.82%
2022-2023 |
| GDP per capita |
$26,545
2024 |
$99,144
2023 |
| GDP per capita rank |
46/197
2024 |
6/197
2023 |
| GDP per capita, PPP |
$24,823
2024 |
$88,428
2023 |
| GDP per capita PPP rank |
84/197
2024 |
10/197
2023 |
| Government debt |
$7.97B
2024 |
n/a |
| Debt-to-GDP ratio |
106.3%
2024 |
n/a |
| Government debt per person |
$28,218
2024 |
n/a |
| Government debt per person rank |
26/185
2024 |
n/a |
| Average annual personal income after taxes |
$18,869
2026 |
$93,253
2026 |
| Market capitalization of domestic companies |
$2.78B
2020 |
$644M
2020 |
| Number of billionaires |
1
2025 |
n/a |
| Income share by richest 10% |
25.8%
2016 |
n/a |
| Income share by poorest 10% |
2.5%
2016 |
n/a |
| Government expenditure, % of GDP |
30.2%
2024 |
14%
2025 |
| Consumer prices inflation |
-0.44%
2023-2024 |
-0.63%
2015-2016 |
| Central bank interest rate |
2%
2020 |
n/a |
| Unemployment rate |
6.54%
2023 |
4.24%
2015 |
| Population |
282798
|
77619
|
Inflation comparison by year
| Year | Consumer prices inflation | |
|---|---|---|
|
Barbados
|
Cayman Islands
|
|
| 2024 | -0.44% | - |
| 2023 | 9.79% | - |
| 2022 | - | - |
| 2021 | - | - |
| 2020 | - | - |
| 2019 | 4.1% | - |
| 2018 | 3.67% | - |
| 2017 | 4.66% | - |
| 2016 | 1.28% | -0.63% |
| 2015 | -1.11% | -2.35% |
| 2014 | 1.77% | 1.27% |
| 2013 | 1.81% | 2.16% |
| 2012 | 4.53% | 1.19% |
| 2011 | 9.43% | 1.33% |
| 2010 | 5.82% | 0.28% |
| 2009 | 3.64% | - |
| 2008 | 8.11% | - |
| 2007 | 4.03% | - |
| 2006 | 7.31% | - |
| 2005 | 6.08% | - |
| 2004 | 1.39% | - |
| 2003 | 1.62% | - |
| 2002 | 0.13% | - |
| 2001 | 2.58% | - |
| 2000 | 2.44% | - |
| 1999 | 1.56% | - |
| 1998 | -1.27% | - |
| 1997 | 7.71% | - |
Data sources: World Bank | Economy & Growth (1997–2024, retrieved 2026-04-06).
GeoRank.org/economy/barbados/cayman-islands | CC BY
Over the past 7 years, Barbados has recorded an average annual inflation rate of 3.36%, compared with 0.46% in the Cayman Islands. In 2016, inflation was -0.44% in Barbados and -0.63% in the Cayman Islands.
Top exports between countries
|
Barbados
|
|
|---|---|
| Export category | Export value |
| Chemicals & pharma | $722K |
| Processed food, beverages & tobacco | $308K |
| Metals | $266K |
| Machinery & equipment | $106K |
| Textiles & consumer goods | $44K |
| Wood & paper products | $28K |
| Raw materials & minerals | $13K |
| Miscellaneous | $10K |
| Precious metals & jewellery | $2K |
| Raw agricultural goods | $2K |
|
Cayman Islands
|
|
|---|---|
| Export category | Export value |
Balance of trade
|
Barbados
|
Cayman Islands
|
|
|---|---|---|
|
Current account balance
|
-$296M
2017 |
-$713M
2023 |
| Current account balance ranking |
100/190
2017 |
116/190
2023 |
| Current account balance, % of GDP |
-5.22%
2017 |
-9.84%
2023 |
| Goods imports |
$1.53B
2017 |
$1.64B
2023 |
| Goods exports |
$705M
2017 |
$150M
2023 |
| Service imports |
$687M
2017 |
$1.8B
2023 |
| Service exports |
$1.52B
2017 |
$4.45B
2023 |
| Imports of goods and services, % of GDP | n/a |
45.8%
2020 |
| Exports of goods and services, % of GDP |
14.5%
2025 |
59.6%
2020 |
Economic freedom indices
The indices of economic freedom below are issued by the Heritage Foundation. Higher scores indicate stronger economic health.
|
Barbados
|
Cayman Islands
|
|
|---|---|---|
| Economic freedom | 70.4 | 74 |
| Economic freedom ranking | 34/197 | 22/197 |
| Property rights | 76.4 | n/a |
| Government integrity | 71.3 | n/a |
| Judicial effectiveness | 87.3 | n/a |
| Tax burden | 83.2 | n/a |
| Government spending | 74.5 | n/a |
| Fiscal health | 76.5 | n/a |
| Business freedom | 72.3 | n/a |
| Labor freedom | 54.3 | n/a |
| Monetary freedom | 80.8 | n/a |
| Trade freedom | 48.2 | n/a |
| Investment freedom | 60 | n/a |
| Financial freedom | 60 | n/a |
Other economic metrics
|
Barbados
|
Cayman Islands
|
|
|---|---|---|
| Services, % of GDP |
75.5%
2024 |
86%
2023 |
| Industry, % of GDP |
12.4%
2024 |
7.84%
2023 |
| Agriculture, forestry, and fishing, % of GDP |
1.58%
2024 |
0.42%
2023 |
|
GNI, Atlas method
|
$7.1B
2024 |
$5.53B
2023 |
| GNI per capita, PPP |
$23,850
2024 |
$68,030
2023 |
| Total reserves including gold |
$1.65B
2024 |
$234M
2023 |
| Total reserves ranking |
131/177
2024 |
169/177
2023 |
|
Net foreign direct investment
|
-$208M
2017 |
-$5.52B
2023 |
|
Net inflows of foreign direct investment
|
$303M
2024 |
$35.9B
2024 |
|
Net outflows of foreign direct investment
|
$18.6M
2024 |
$27.2B
2024 |
| Poverty at national poverty lines |
25.7%
2016 |
n/a |
GDP per capita map
Data sources: World Bank | Economy & Growth (1985–2024, retrieved 2026-04-06); U.S. Census Bureau (1985–2024, retrieved 2026-02-08).
GeoRank.org/economy/barbados/cayman-islands | CC BY
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Data sources:
- World Bank | Economy & Growth (1960–2025, retrieved 2026-04-06)
- U.S. Census Bureau (1985–2024, retrieved 2026-02-08)
- The Heritage Foundation | Economic Freedom Index (2026, retrieved 2026-03-09)
- TradeMap (2022–2024, retrieved 2026-02-08)
- International Monetary Fund (IMF) | Fiscal Monitor (2024, retrieved 2026-02-20)
- United Nations | World Population Prospects (2026, retrieved 2026-03-10)
- LivingCost (2026, retrieved 2025-10-14)
Creative Commons Attribution (CC BY) — you’re free to copy, share, remix, adapt, and use even commercially as long as you give appropriate credit and clearly indicate if you made changes. Other sources may be subject to different license terms.
The current account balance is the sum of net trade in goods and services, net earnings from cross-border investments, and net transfer payments. It reflects a country's economic transactions with the rest of the world and is a fundamental component of the balance of payments. A surplus indicates that a country exports more than it imports, while a deficit shows the opposite.
Gross National Income (GNI) measures a country's total income. It encompasses income earned by residents, businesses, and foreign sources, defined as employee compensation and investment profits. GNI adds product taxes not included elsewhere and subtracts subsidies. It accounts for income from residents working abroad but excludes earnings from foreigners within the country.
A negative value for Net Foreign Direct Investment indicates a country is a net receiver of investments, as foreign inflows exceed outflows after Balance of Payments adjustments. A positive value indicates a net provider, with outflows exceeding inflows. Inflows are credits (increasing foreign claims on domestic assets), while outflows are debits (increasing domestic assets abroad).
Foreign direct investment (FDI, net inflows) shows how much capital foreign investors bring into a country after accounting for any funds that flow back in the opposite direction. It represents the net value of overseas companies establishing, expanding, or financing businesses in the reporting country. A positive number means more capital entered the country than was withdrawn, while a negative number means foreign investors pulled out more than they invested.
Foreign direct investment (FDI, net outflows) shows how much capital residents of a country invest abroad after accounting for any funds that flow back in the opposite direction. It represents the net value of domestic companies establishing, expanding, or financing businesses in other countries. A positive number means more capital was invested abroad than withdrawn, while a negative number means residents pulled back more than they invested.