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Economy of Barbados vs China compared: GDP & Debt

Updated on by Georank team

Barbados has a GDP of $7.5B compared to $18.7T for China, ranking 157/197 and 2/197 by economy size, respectively.

Barbados has $7.97B in government debt (106.3% of GDP), compared to $16.6T (88.3% of GDP) in China.

Barbados vs China GDP by year

Barbados
China
1x
Year GDP, current $
Barbados China
2024 $7,498,050,000 $18,743,803,170,827
2023 $7,223,250,000 $18,270,356,654,533
2022 $6,884,900,000 $18,316,765,021,690
2021 $5,947,550,000 $18,201,698,719,564
2020 $5,407,050,000 $14,996,414,166,715
2019 $6,161,850,000 $14,560,167,101,283
2018 $6,001,950,000 $14,147,765,772,964
2017 $5,683,150,000 $12,537,559,062,283
2016 $5,674,600,000 $11,456,024,084,962
2015 $5,698,150,000 $11,280,814,787,469
2014 $5,620,600,000 $10,674,533,168,257
2013 $5,667,200,000 $9,743,124,247,267
2012 $5,761,450,000 $8,673,664,713,189
2011 $5,663,100,000 $7,671,757,207,851
2010 $5,672,900,000 $6,192,564,874,453
2009 $4,466,809,600 $5,189,577,094,998
2008 $4,790,410,400 $4,667,346,414,522
2007 $4,675,767,950 $3,604,055,822,572
2006 $4,217,323,400 $2,791,498,472,804
2005 $3,819,500,000 $2,317,551,298,052
2004 $3,444,500,000 $1,984,196,551,300
2003 $3,209,500,000 $1,683,903,309,844
2002 $3,106,500,000 $1,489,821,682,051
2001 $3,054,500,000 $1,355,036,590,252
2000 $3,059,500,000 $1,223,754,919,971
1999 $2,951,822,205 $1,103,843,203,576
1998 $2,817,083,478 $1,037,134,141,760
1997 $2,498,384,130 $967,753,570,435
1996 $2,363,645,403 $868,523,936,530
1995 $2,216,974,096 $738,190,896,228
1994 $2,151,344,901 $566,929,539,493
1993 $2,063,342,117 $446,557,291,212
1992 $1,957,000,000 $428,502,354,788
1991 $2,020,583,702 $384,510,452,962
1990 $2,012,131,457 $361,560,229,446
1989 $2,006,165,167 $348,380,566,802
1988 $1,812,757,918 $312,888,888,889
1987 $1,704,370,308 $273,455,156,951
1986 $1,547,755,183 $301,310,144,928
1985 $1,409,536,121 $310,064,625,850
1984 $1,346,890,071 $260,442,857,143
1983 $1,236,016,507 $231,130,268,199
1982 $1,163,923,830 $205,480,916,031
1981 $1,114,204,743 $196,218,253,968
1980 $1,012,280,615 $191,487,500,000
1979 $670,362,452 $178,573,913,043
1978 $552,883,707 $149,788,617,886
1977 $495,097,668 $175,226,595,860
1976 $435,911,269 $154,196,810,059
1975 $402,178,605 $163,687,619,736
1974 $311,804,630 $144,418,433,058
1973 $260,767,828 $138,764,340,892
1972 $213,725,217 $113,871,930,714
1971 $186,826,503 $99,959,013,880
1970 $166,210,203 $92,752,930,873
1969 $141,393,142 $79,847,786,729
1968 $125,733,669 $70,980,323,819
1967 $125,554,009 $73,011,350,596
1966 $113,195,123 $76,854,053,259
1965 $105,021,997 $70,565,994,356
1964 $99,252,731 $59,821,862,703
1963 $99,893,761 $50,812,227,919
1962 $88,782,583 $47,310,737,754
1961 $85,363,759 $50,162,299,350
1960 $80,021,847 $59,846,235,025

Data sources: World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06).

GeoRank.org/economy/barbados/china | CC BY

GDP per capita in Barbados vs China by year

Barbados
GDP per capita

GDP per capita, PPP
China
GDP per capita

GDP per capita, PPP
1x
Year Current $
Barbados China
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $26,545 $24,823 $13,303 $27,105
2023 $25,584 $23,660 $12,951 $25,179
2022 $24,387 $22,193 $12,971 $23,032
2021 $21,080 $17,683 $12,887 $20,843
2020 $19,194 $16,555 $10,627 $18,267
2019 $21,912 $19,971 $10,343 $17,601
2018 $21,381 $19,777 $10,086 $16,298
2017 $20,285 $18,437 $8,980 $15,022
2016 $20,296 $19,176 $8,255 $14,157
2015 $20,424 $19,186 $8,175 $13,463
2014 $20,193 $18,595 $7,781 $12,942
2013 $20,410 $19,032 $7,147 $12,228
2012 $20,804 $19,605 $6,405 $11,420
2011 $20,508 $20,316 $5,704 $10,457
2010 $20,611 $20,033 $4,629 $9,411
2009 $16,295 $20,324 $3,898 $8,448
2008 $17,566 $21,376 $3,523 $7,713
2007 $17,235 $20,949 $2,735 $6,935
2006 $15,620 $20,076 $2,129 $5,946
2005 $14,214 $18,450 $1,778 $5,148
2004 $12,886 $17,299 $1,531 $4,505
2003 $12,076 $16,707 $1,307 $4,007
2002 $11,760 $16,133 $1,164 $3,591
2001 $11,640 $15,866 $1,065 $3,258
2000 $11,675 $15,914 $969 $2,964
1999 $11,244 $14,873 $881 $2,690
1998 $10,734 $14,621 $835 $2,483
1997 $9,522 $13,941 $787 $2,297
1996 $9,012 $13,090 $713 $2,088
1995 $8,460 $12,375 $613 $1,884
1994 $8,223 $11,900 $476 $1,680
1993 $7,905 $11,448 $379 $1,471
1992 $7,519 $11,127 $368 $1,276
1991 $7,790 $11,576 $334 $1,105
1990 $7,781 $11,687 $319 $991
1989 $7,773 - $311 -
1988 $7,033 - $284 -
1987 $6,625 - $252.3 -
1986 $6,031 - $282.4 -
1985 $5,510 - $295 -
1984 $5,284 - $251.2 -
1983 $4,866 - $225.9 -
1982 $4,599 - $203.7 -
1981 $4,417 - $197.4 -
1980 $4,025 - $195.1 -
1979 $2,668 - $184.3 -
1978 $2,198 - $156.7 -
1977 $1,968 - $185.7 -
1976 $1,734 - $165.7 -
1975 $1,601 - $178.6 -
1974 $1,243 - $160.4 -
1973 $1,042 - $157.3 -
1972 $856 - $132.1 -
1971 $750 - $118.8 -
1970 $666 - $113.3 -
1969 $567 - $100.3 -
1968 $506 - $91.6 -
1967 $508 - $96.8 -
1966 $462 - $104.5 -
1965 $433 - $98.7 -
1964 $414 - $85.7 -
1963 $421 - $74.5 -
1962 $377 - $71.1 -
1961 $366 - $76 -
1960 $347 - $89.7 -

Data sources: World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06).

GeoRank.org/economy/barbados/china | CC BY

Barbados' GDP per capita is $26,545, ranking 46/197, compared to $13,303 in China, ranking 76/197. Adjusted for purchasing power (GDP per capita PPP), Barbados ranks 84th at $24,823, while China ranks 77th at $27,105.

Economic indicators

Barbados China
Gross domestic product
$7.5B
2024
$18.7T
2024
GDP rank
157/197
2024
2/197
2024
GDP growth
2.48%
2023-2024
4.98%
2023-2024
GDP per capita
$26,545
2024
$13,303
2024
GDP per capita rank
46/197
2024
76/197
2024
GDP per capita, PPP
$24,823
2024
$27,105
2024
GDP per capita PPP rank
84/197
2024
77/197
2024
Government debt
$7.97B
2024
$16.6T
2024
Debt-to-GDP ratio
106.3%
2024
88.3%
2024
Government debt per person
$28,218
2024
$11,749
2024
Government debt per person rank
26/185
2024
47/185
2024
Average annual personal income after taxes
$18,869
2026
$9,826
2026
Market capitalization of domestic companies
$2.78B
2020
$11.8T
2024
Number of millionaires n/a
6,327,000
2025
Number of billionaires
1
2025
450
2025
Income share by richest 10%
25.8%
2016
28.4%
2022
Income share by poorest 10%
2.5%
2016
3.1%
2022
Government expenditure, % of GDP
30.2%
2024
32.9%
2024
Consumer prices inflation
-0.44%
2023-2024
0.2%
2023-2024
Central bank interest rate
2%
2020
3.1%
2024
Unemployment rate
6.54%
2023
5.11%
2021
Population
282798
1402578808

Spending and national debt comparison by year

Barbados
Spending

Debt
China
Spending

Debt
1x
Year % of GDP
Barbados China
Government spending Government debt Government spending Government debt
2024 30.2% 106.3% 32.9% 88.3%
2023 28.8% 113.4% 32.7% 82%
2022 30.3% 116.9% 32.6% 75.5%
2021 32.5% 130.2% 31.9% 70.1%
2020 30.3% 128.4% 34.8% 69%
2019 23.9% 109.5% 33.6% 59.4%
2018 26.9% 115% 32.6% 55.6%
2017 29.8% 143.6% 32% 53.9%
2016 30.7% 136.5% 31.7% 49.7%
2015 31.4% 131.9% 31% 40.8%
2014 29% 122% 28.4% 39.3%
2013 30.8% 118.6% 28.1% 36.4%
2012 30.6% 109.4% 27.7% 33.8%
2011 27.7% 98.7% 26.6% 33.2%
2010 29.7% 96% 24.7% 33.3%
2009 29.5% 88.5% 25.2% 34%
2008 28.1% 72.6% 22.2% 26.7%
2007 27.8% 69% 17.9% 28.7%
2006 27.2% 69.8% 18.1% 25.2%
2005 28.7% 68.2% 18% 25.9%
2004 28.5% 66.5% 17.6% 26%
2003 29.8% 66.6% 18% 26.4%
2002 31% 66.1% 18.2% 25.6%
2001 22% 62.6% 17.2% 24.3%
2000 20.8% 56.6% 16.1% 22.7%
1999 19.7% 50.1% 14.9% 21.6%
1998 19% 50.5% 12.6% 20.4%
1997 21.5% 56.9% 11.5% 20.4%
1996 20.5% 56.1% 11% 21.2%
1995 18.6% 55.9% 11.1% 21.4%
1994 17% 55% 12.4% -
1993 - - 13.4% -
1992 - - 14.6% -
1991 - - 16.5% -
1990 - - 18.2% -
1989 - - 18.6% -
1988 - - 20.9% 4.46%
1987 - - 23.4% 3.6%
1986 - - 25.6% 3.24%
1985 - - 25.8% 3.31%
1984 - - 26.9% 0.97%
1983 - - 28.3% -
1982 - - 27.9% -

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1982–1989, retrieved 2026-02-20).

GeoRank.org/economy/barbados/china | CC BY

In 2024, Barbados' government spending was $2.26B, accounting for 30.2% of its GDP, while China spent $6.18T, or 32.9% of GDP.

Debt-to-GDP ratio is 106.3% in Barbados and 88.3% in China, ranking 18/185 and 34/185, respectively.

Government deficit by year

Deficit/surplus
Barbados

China
1x
Year Deficit/surplus, % of GDP
Barbados China
2024 -0.89% -7.34%
2023 -1.71% -6.71%
2022 -1.96% -7.32%
2021 -4.65% -5.9%
2020 -4.16% -9.56%
2019 3.08% -6%
2018 -0.34% -4.2%
2017 -3.89% -3.34%
2016 -4.88% -3.33%
2015 -8.16% -2.5%
2014 -6.57% -0.67%
2013 -8.98% -0.82%
2012 -7.07% -0.3%
2011 -3.63% -0.1%
2010 -7.55% -0.36%
2009 -6.56% -1.72%
2008 -4.1% -0.02%
2007 -4.34% 0.06%
2006 -3.41% -1.13%
2005 -3.03% -1.38%
2004 -2.97% -1.49%
2003 -3.08% -2.36%
2002 -5.28% -2.84%
2001 4.07% -2.56%
2000 4.94% -2.81%
1999 5.39% -2.3%
1998 6.03% -1.08%
1997 5.64% -0.73%
1996 3.76% -0.73%
1995 6.22% -0.94%
1994 6.72% -1.68%
1993 - -0.89%
1992 - -1.22%
1991 - -1.04%
1990 - -0.72%
1989 - -0.91%
1988 - -2.22%
1987 - -2.08%
1986 - -1.82%
1985 - -0.45%
1984 - -1.44%
1983 - -1.61%
1982 - -1.33%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1982–1989, retrieved 2026-02-20).

GeoRank.org/economy/barbados/china | CC BY

In 2024, Barbados' government deficit, the difference between spending and revenue, was $66.8M, equivalent to 0.89% of GDP. This compares to China's deficit of $1.38T, or 7.34% of GDP.

Over the past 31 years, Barbados recorded a fiscal deficit in 22 of those years, while China ran a deficit in 30 years. On average, Barbados posted an annual deficit equal to 1.66% of GDP, compared to deficit of 2.65% of GDP for China.

Inflation comparison by year

Inflation
Barbados

China
1x
Year Consumer prices inflation
Barbados China
2024 -0.44% 0.2%
2023 9.79% 0.2%
2022 - 2%
2021 - 0.9%
2020 - 2.5%
2019 4.1% 2.9%
2018 3.67% 2.1%
2017 4.66% 1.6%
2016 1.28% 2%
2015 -1.11% 1.5%
2014 1.77% 2%
2013 1.81% 2.7%
2012 4.53% 2.6%
2011 9.43% 5.4%
2010 5.82% 3.3%
2009 3.64% -0.7%
2008 8.11% 5.9%
2007 4.03% 4.7%
2006 7.31% 1.5%
2005 6.08% 1.8%
2004 1.39% 3.9%
2003 1.62% 1.1%
2002 0.13% -0.8%
2001 2.58% 0.7%
2000 2.44% 0.4%
1999 1.56% -1.4%
1998 -1.27% -0.8%
1997 7.71% 2.8%

Data sources: International Monetary Fund (IMF) | World Economic Outlook (1997–2024, retrieved 2026-02-20); World Bank | Economy & Growth (1997–2024, retrieved 2026-04-06).

GeoRank.org/economy/barbados/china | CC BY

Over the past 28 years, Barbados has recorded an average annual inflation rate of 3.63%, compared with 1.82% in China. In 2024, inflation was -0.44% in Barbados and 0.2% in China.

Top exports between countries

Barbados
Export category Export value
Machinery & equipment $2.51M
Metals $265K
Processed food, beverages & tobacco $31K
Precious metals & jewellery $2K
China
Export category Export value
Machinery & equipment $104M
Textiles & consumer goods $25.2M
Raw materials & minerals $17.8M
Metals $15M
Chemicals & pharma $14.6M
Wood & paper products $3.64M
Animal & marine products $2.29M
Miscellaneous $2.03M
Processed food, beverages & tobacco $1.17M
Raw agricultural goods $629K

Balance of trade

Barbados China
Current account balance
-$296M
2017
$424B
2024
Current account balance ranking
100/190
2017
1/190
2024
Current account balance, % of GDP
-5.22%
2017
+2.26%
2024
Goods imports
$1.53B
2017
$2.64T
2024
Goods exports
$705M
2017
$3.41T
2024
Service imports
$687M
2017
$613B
2024
Service exports
$1.52B
2017
$384B
2024
Imports of goods and services, % of GDP n/a
17.2%
2024
Exports of goods and services, % of GDP
14.5%
2025
20%
2024

Economic freedom indices

The indices of economic freedom below are issued by the Heritage Foundation. Higher scores indicate stronger economic health.

Barbados China
Economic freedom 70.4 48.3
Economic freedom ranking 34/197 170/197
Property rights 76.4 40.9
Government integrity 71.3 42.3
Judicial effectiveness 87.3 38.6
Tax burden 83.2 69.3
Government spending 74.5 67.8
Fiscal health 76.5 4.4
Business freedom 72.3 68.7
Labor freedom 54.3 57.9
Monetary freedom 80.8 76.1
Trade freedom 48.2 73.4
Investment freedom 60 20
Financial freedom 60 20

Economic freedom comparison by year

Barbados
China
1x
Year Economic freedom index
Barbados China
2026 70.4 48.3
2025 68.9 49
2024 66.8 48.5
2023 69.8 48.3
2022 71.3 48
2021 65 58.4
2020 61.4 59.5
2019 64.7 58.4
2018 57 57.8
2017 54.5 57.4
2016 68.3 52
2015 67.9 52.7
2014 68.3 52.5
2013 69.3 51.9
2012 69 51.2
2011 68.5 52
2010 68.3 51
2009 71.5 53.2
2008 71.3 53.1
2007 70 52
2006 71.9 53.6
2005 70.1 53.7
2004 69.4 52.5
2003 71.3 52.6
2002 73.6 52.8
2001 71.5 52.6
2000 69.5 56.4
1999 66.7 54.8
1998 67.9 53.1
1997 64.5 51.7
1996 62.3 51.3
1995 - 52

Data sources: The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-03-09).

GeoRank.org/economy/barbados/china | CC BY

The Economic Freedom Index for Barbados is 70.4, ranking 34/197, compared to 48.3 for China, ranking 170/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Barbados China
Services, % of GDP
75.5%
2024
56.7%
2024
Industry, % of GDP
12.4%
2024
36.5%
2024
Agriculture, forestry, and fishing, % of GDP
1.58%
2024
6.78%
2024
GNI, Atlas method
$7.1B
2024
$19.3T
2024
GNI per capita, PPP
$23,850
2024
$26,920
2024
Total reserves including gold
$1.65B
2024
$3.46T
2024
Total reserves ranking
131/177
2024
1/177
2024
Net foreign direct investment
-$208M
2017
$154B
2024
Net inflows of foreign direct investment
$303M
2024
$18.6B
2024
Net outflows of foreign direct investment
$18.6M
2024
$172B
2024
Servicing debt to the IMF, % of GNI n/a
1.89%
2024
Poverty at national poverty lines
25.7%
2016
0%
2020
Gross capital formation, % of GDP n/a
40.6%
2024

GDP per capita map

1x

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/china | CC BY

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Data sources:

  1. World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06)
  2. International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20)
  3. The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-03-09)
  4. U.S. Census Bureau (1985–2024, retrieved 2026-02-08)
  5. International Monetary Fund (IMF) | Public Finances in Modern History (1982–1989, retrieved 2026-02-20)
  6. TradeMap (2023–2024, retrieved 2026-02-08)
  7. United Nations | World Population Prospects (2026, retrieved 2026-03-10)
  8. 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.

Principal and interest payments to the IMF in currency, goods, or services on long-term debt expressed as a share of GNI.

Formerly gross domestic investment, gross capital formation measures the share of a country’s economic output invested in fixed assets, including buildings, machinery, and infrastructure. It indicates how much of the economy is devoted to building productive capacity.