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Economy of Barbados vs Guyana compared: GDP & Debt

Updated on by Georank team

Barbados has a GDP of $7.5B compared to $24.7B for Guyana, ranking 157/197 and 120/197 by economy size, respectively.

Barbados has $7.97B in government debt (106.3% of GDP), compared to $5.99B (24.3% of GDP) in Guyana.

Barbados vs Guyana GDP by year

Barbados
Guyana
1x
Year GDP, current $
Barbados Guyana
2024 $7,498,050,000 $24,662,709,832
2023 $7,223,250,000 $16,918,503,597
2022 $6,884,900,000 $14,718,388,489
2021 $5,947,550,000 $8,041,362,110
2020 $5,407,050,000 $5,471,256,595
2019 $6,161,850,000 $5,173,760,192
2018 $6,001,950,000 $4,787,636,998
2017 $5,683,150,000 $4,748,174,334
2016 $5,674,600,000 $4,482,697,337
2015 $5,698,150,000 $4,279,840,194
2014 $5,620,600,000 $4,127,660,152
2013 $5,667,200,000 $4,167,800,929
2012 $5,761,450,000 $4,063,088,536
2011 $5,663,100,000 $3,691,384,318
2010 $5,672,900,000 $3,432,912,517
2009 $4,466,809,600 $3,165,663,153
2008 $4,790,410,400 $3,025,187,433
2007 $4,675,767,950 $2,730,971,595
2006 $4,217,323,400 $2,379,817,991
2005 $3,819,500,000 $824,880,550
2004 $3,444,500,000 $787,814,379
2003 $3,209,500,000 $743,063,950
2002 $3,106,500,000 $726,131,435
2001 $3,054,500,000 $712,167,450
2000 $3,059,500,000 $712,667,897
1999 $2,951,822,205 $694,754,988
1998 $2,817,083,478 $717,530,683
1997 $2,498,384,130 $749,138,010
1996 $2,363,645,403 $705,406,001
1995 $2,216,974,096 $621,626,786
1994 $2,151,344,901 $540,874,934
1993 $2,063,342,117 $454,101,382
1992 $1,957,000,000 $373,573,141
1991 $2,020,583,702 $348,533,095
1990 $2,012,131,457 $396,582,263
1989 $2,006,165,167 $379,779,390
1988 $1,812,757,918 $413,799,990
1987 $1,704,370,308 $354,591,847
1986 $1,547,755,183 $504,651,140
1985 $1,409,536,121 $453,488,372
1984 $1,346,890,071 $437,631,605
1983 $1,236,016,507 $489,333,333
1982 $1,163,923,830 $482,000,000
1981 $1,114,204,743 $570,357,107
1980 $1,012,280,615 $603,200,000
1979 $670,362,452 $530,440,000
1978 $552,883,707 $507,080,000
1977 $495,097,668 $449,880,000
1976 $435,911,269 $454,440,000
1975 $402,178,605 $494,791,667
1974 $311,804,630 $433,954,545
1973 $260,767,828 $307,047,619
1972 $213,725,217 $285,380,952
1971 $186,826,503 $282,050,000
1970 $166,210,203 $267,800,000
1969 $141,393,142 $249,300,000
1968 $125,733,669 $229,750,000
1967 $125,554,009 $250,176,471
1966 $113,195,123 $228,705,882
1965 $105,021,997 $213,235,294
1964 $99,252,731 $194,774,513
1963 $99,893,761 $175,757,894
1962 $88,782,583 $194,949,513
1961 $85,363,759 $185,849,535
1960 $80,021,847 $170,216,241

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

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

GDP per capita in Barbados vs Guyana by year

Barbados
GDP per capita

GDP per capita, PPP
Guyana
GDP per capita

GDP per capita, PPP
1x
Year Current $
Barbados Guyana
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $26,545 $24,823 $29,675 $80,155
2023 $25,584 $23,660 $20,474 $54,729
2022 $24,387 $22,193 $17,913 $39,711
2021 $21,080 $17,683 $9,861 $22,866
2020 $19,194 $16,555 $6,776 $16,819
2019 $21,912 $19,971 $6,406 $13,241
2018 $21,381 $19,777 $6,048 $12,443
2017 $20,285 $18,437 $6,179 $12,243
2016 $20,296 $19,176 $5,871 $11,516
2015 $20,424 $19,186 $5,640 $11,408
2014 $20,193 $18,595 $5,473 $11,145
2013 $20,410 $19,032 $5,557 $11,200
2012 $20,804 $19,605 $5,444 $10,627
2011 $20,508 $20,316 $4,947 $10,066
2010 $20,611 $20,033 $4,582 $9,337
2009 $16,295 $20,324 $4,209 $8,824
2008 $17,566 $21,376 $4,009 $8,437
2007 $17,235 $20,949 $3,608 $8,110
2006 $15,620 $20,076 $3,136 $7,346
2005 $14,214 $18,450 $1,084 $6,761
2004 $12,886 $17,299 $1,033 $6,673
2003 $12,076 $16,707 $974 $6,392
2002 $11,760 $16,133 $951 $6,304
2001 $11,640 $15,866 $932 $6,131
2000 $11,675 $15,914 $932 $5,860
1999 $11,244 $14,873 $909 $5,812
1998 $10,734 $14,621 $940 $5,573
1997 $9,522 $13,941 $983 $5,615
1996 $9,012 $13,090 $928 $5,210
1995 $8,460 $12,375 $820 $4,753
1994 $8,223 $11,900 $716 $4,447
1993 $7,905 $11,448 $603 $4,027
1992 $7,519 $11,127 $498 $3,651
1991 $7,790 $11,576 $466 $3,322
1990 $7,781 $11,687 $529 $3,022
1989 $7,773 - $503 -
1988 $7,033 - $545 -
1987 $6,625 - $464 -
1986 $6,031 - $657 -
1985 $5,510 - $588 -
1984 $5,284 - $565 -
1983 $4,866 - $631 -
1982 $4,599 - $621 -
1981 $4,417 - $735 -
1980 $4,025 - $779 -
1979 $2,668 - $689 -
1978 $2,198 - $663 -
1977 $1,968 - $593 -
1976 $1,734 - $604 -
1975 $1,601 - $664 -
1974 $1,243 - $588 -
1973 $1,042 - $421 -
1972 $856 - $395 -
1971 $750 - $396 -
1970 $666 - $381 -
1969 $567 - $361 -
1968 $506 - $340 -
1967 $508 - $378 -
1966 $462 - $353 -
1965 $433 - $336 -
1964 $414 - $313 -
1963 $421 - $288.8 -
1962 $377 - $327 -
1961 $366 - $319 -
1960 $347 - $299.1 -

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

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

Barbados' GDP per capita is $26,545, ranking 46/197, compared to $29,675 in Guyana, ranking 41/197. Adjusted for purchasing power (GDP per capita PPP), Barbados ranks 84th at $24,823, while Guyana ranks 15th at $80,155.

Economic indicators

Barbados Guyana
Gross domestic product
$7.5B
2024
$24.7B
2024
GDP rank
157/197
2024
120/197
2024
GDP growth
2.48%
2023-2024
43.8%
2023-2024
GDP per capita
$26,545
2024
$29,675
2024
GDP per capita rank
46/197
2024
41/197
2024
GDP per capita, PPP
$24,823
2024
$80,155
2024
GDP per capita PPP rank
84/197
2024
15/197
2024
Government debt
$7.97B
2024
$5.99B
2024
Debt-to-GDP ratio
106.3%
2024
24.3%
2024
Government debt per person
$28,218
2024
$7,213
2024
Government debt per person rank
26/185
2024
66/185
2024
Average annual personal income after taxes
$18,869
2026
$13,212
2026
Market capitalization of domestic companies
$2.78B
2020
n/a
Number of billionaires
1
2025
n/a
Income share by richest 10%
25.8%
2016
34.4%
1998
Income share by poorest 10%
2.5%
2016
1.1%
1998
Government expenditure, % of GDP
30.2%
2024
23.2%
2024
Consumer prices inflation
-0.44%
2023-2024
2.5%
2023-2024
Central bank interest rate
2%
2020
n/a
Unemployment rate
6.54%
2023
13.2%
2019
Population
282798
842249

Spending and national debt comparison by year

Barbados
Spending

Debt
Guyana
Spending

Debt
1x
Year % of GDP
Barbados Guyana
Government spending Government debt Government spending Government debt
2024 30.2% 106.3% 23.2% 24.3%
2023 28.8% 113.4% 23.7% 26.7%
2022 30.3% 116.9% 20.3% 24.8%
2021 32.5% 130.2% 24.8% 45.7%
2020 30.3% 128.4% 30.5% 59.5%
2019 23.9% 109.5% 28.1% 54%
2018 26.9% 115% 27.6% 47.9%
2017 29.8% 143.6% 26.3% 46.1%
2016 30.7% 136.5% 25.2% 44%
2015 31.4% 131.9% 21.7% 42.2%
2014 29% 122% 23.1% 38.7%
2013 30.8% 118.6% 21.4% 41.4%
2012 30.6% 109.4% 21.8% 44.7%
2011 27.7% 98.7% 23.5% 51.7%
2010 29.7% 96% 23.9% 53.1%
2009 29.5% 88.5% 25.4% 52.3%
2008 28.1% 72.6% 24.1% 48.2%
2007 27.8% 69% 25.5% 47.7%
2006 27.2% 69.8% 29% 74.5%
2005 28.7% 68.2% 28.4% 90.7%
2004 28.5% 66.5% 23.7% 91.8%
2003 29.8% 66.6% 23.5% 95.6%
2002 31% 66.1% 23.1% 105.1%
2001 22% 62.6% 24% 104.6%
2000 20.8% 56.6% 22.9% 97.2%
1999 19.7% 50.1% 17.6% 97.1%
1998 19% 50.5% 19.7% 108%
1997 21.5% 56.9% 20.9% 101.3%
1996 20.5% 56.1% - -
1995 18.6% 55.9% - -
1994 17% 55% - -

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1994–2024, retrieved 2026-02-20).

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

In 2024, Barbados' government spending was $2.26B, accounting for 30.2% of its GDP, while Guyana spent $5.72B, or 23.2% of GDP.

Debt-to-GDP ratio is 106.3% in Barbados and 24.3% in Guyana, ranking 18/185 and 168/185, respectively.

Government deficit by year

Deficit/surplus
Barbados

Guyana
1x
Year Deficit/surplus, % of GDP
Barbados Guyana
2024 -0.89% -7.31%
2023 -1.71% -5.78%
2022 -1.96% -5.11%
2021 -4.65% -6.94%
2020 -4.16% -7.78%
2019 3.08% -2.52%
2018 -0.34% -2.52%
2017 -3.89% -3.14%
2016 -4.88% -3.21%
2015 -8.16% -0.75%
2014 -6.57% -3.88%
2013 -8.98% -2.16%
2012 -7.07% -3.11%
2011 -3.63% -2.13%
2010 -7.55% -1.88%
2009 -6.56% -2.5%
2008 -4.1% -2.78%
2007 -4.34% -3.35%
2006 -3.41% -6.16%
2005 -3.03% -6.54%
2004 -2.97% -2.88%
2003 -3.08% -4.81%
2002 -5.28% -2.42%
2001 4.07% -3.71%
2000 4.94% -2.27%
1999 5.39% -0.47%
1998 6.03% -2.67%
1997 5.64% -1.7%
1996 3.76% -
1995 6.22% -
1994 6.72% -

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1994–2024, retrieved 2026-02-20).

GeoRank.org/economy/barbados/guyana | 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 Guyana's deficit of $1.8B, or 7.31% of GDP.

Over the past 28 years, Barbados recorded a fiscal deficit in 22 of those years, while Guyana ran a deficit in 28 years. On average, Barbados posted an annual deficit equal to 2.43% of GDP, compared to deficit of 3.59% of GDP for Guyana.

Inflation comparison by year

Inflation
Barbados

Guyana
1x
Year Consumer prices inflation
Barbados Guyana
2024 -0.44% 2.5%
2023 9.79% 4.5%
2022 - 6.5%
2021 - 3.3%
2020 - 1.2%
2019 4.1% 2.1%
2018 3.67% 1.3%
2017 4.66% 1.9%
2016 1.28% 0.8%
2015 -1.11% -0.9%
2014 1.77% 0.7%
2013 1.81% 1.9%
2012 4.53% 2.4%
2011 9.43% 4.4%
2010 5.82% 4.3%
2009 3.64% 3%
2008 8.11% 8.1%
2007 4.03% 12.2%
2006 7.31% 6.7%
2005 6.08% 6.9%
2004 1.39% 4.7%
2003 1.62% 6%
2002 0.13% 5.4%
2001 2.58% 2.6%
2000 2.44% 6.1%
1999 1.56% 7.5%
1998 -1.27% 4.6%
1997 7.71% 3.6%

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/guyana | CC BY

Over the past 28 years, Barbados has recorded an average annual inflation rate of 3.63%, compared with 4.08% in Guyana. In 2024, inflation was -0.44% in Barbados and 2.5% in Guyana.

Top exports between countries

Barbados
Export category Export value
Raw materials & minerals $4.91M
Processed food, beverages & tobacco $4.43M
Raw agricultural goods $3.61M
Chemicals & pharma $3.59M
Wood & paper products $2.04M
Machinery & equipment $844K
Metals $154K
Miscellaneous $146K
Animal & marine products $97K
Textiles & consumer goods $35K
Guyana
Export category Export value
Raw materials & minerals $236M
Machinery & equipment $7.2M
Raw agricultural goods $2.7M
Processed food, beverages & tobacco $2.3M
Wood & paper products $1.99M
Animal & marine products $1.08M
Textiles & consumer goods $445K
Chemicals & pharma $387K
Metals $18K
Precious metals & jewellery $12K

Balance of trade

Barbados Guyana
Current account balance
-$296M
2017
$2.35B
2023
Current account balance ranking
100/190
2017
43/190
2023
Current account balance, % of GDP
-5.22%
2017
+13.9%
2023
Goods imports
$1.53B
2017
$6B
2023
Goods exports
$705M
2017
$13.2B
2023
Service imports
$687M
2017
$4.95B
2023
Service exports
$1.52B
2017
$529M
2023
Imports of goods and services, % of GDP n/a
109.7%
2005
Exports of goods and services, % of GDP
14.5%
2025
84.6%
2005

Economic freedom indices

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

Barbados Guyana
Economic freedom 70.4 58.7
Economic freedom ranking 34/197 109/197
Property rights 76.4 46.7
Government integrity 71.3 38.8
Judicial effectiveness 87.3 48.6
Tax burden 83.2 76.4
Government spending 74.5 85
Fiscal health 76.5 39.9
Business freedom 72.3 70.9
Labor freedom 54.3 76
Monetary freedom 80.8 78.5
Trade freedom 48.2 59.2
Investment freedom 60 55
Financial freedom 60 30

Economic freedom comparison by year

Barbados
Guyana
1x
Year Economic freedom index
Barbados Guyana
2026 70.4 58.7
2025 68.9 58.2
2024 66.8 57.3
2023 69.8 56.9
2022 71.3 59.5
2021 65 57.4
2020 61.4 56.2
2019 64.7 56.8
2018 57 58.7
2017 54.5 58.5
2016 68.3 55.4
2015 67.9 55.5
2014 68.3 55.7
2013 69.3 53.8
2012 69 51.3
2011 68.5 49.4
2010 68.3 48.4
2009 71.5 48.4
2008 71.3 48.8
2007 70 53.7
2006 71.9 56.6
2005 70.1 56.5
2004 69.4 53
2003 71.3 50.3
2002 73.6 54.3
2001 71.5 53.3
2000 69.5 52.4
1999 66.7 53.3
1998 67.9 52.7
1997 64.5 53.2
1996 62.3 50.1
1995 - 45.7

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

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

The Economic Freedom Index for Barbados is 70.4, ranking 34/197, compared to 58.7 for Guyana, ranking 109/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Barbados Guyana
Services, % of GDP
75.5%
2024
14.5%
2024
Industry, % of GDP
12.4%
2024
76%
2024
Agriculture, forestry, and fishing, % of GDP
1.58%
2024
7.62%
2024
GNI, Atlas method
$7.1B
2024
$16.7B
2024
GNI per capita, PPP
$23,850
2024
$52,290
2024
Total reserves including gold
$1.65B
2024
$1.01B
2024
Total reserves ranking
131/177
2024
141/177
2024
Net foreign direct investment
-$208M
2017
$1.14B
2023
Net inflows of foreign direct investment
$303M
2024
$8.63B
2024
Net outflows of foreign direct investment
$18.6M
2024
$5.7M
2024
Servicing debt to the IMF, % of GNI n/a
3.73%
2024
Poverty at national poverty lines
25.7%
2016
35%
2020
Gross capital formation, % of GDP n/a
32.3%
2005

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/guyana | 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 (1994–2024, 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. TradeMap (2024, retrieved 2026-02-08)
  6. United Nations | World Population Prospects (2026, retrieved 2026-03-10)
  7. LivingCost (2026, retrieved 2025-10-14)
  8. Central Intelligence Agency (CIA) (2020, retrieved 2026-02-20)

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.