Barbados has a GDP of $7.16B compared to $34.9B for North Korea, ranking 158/197 and 106/197 by economy size, respectively.
The chart below compares the two countries' GDP growth in both current (nominal) and constant dollars, accounting for inflation over time.
| Year | GDP | |||
|---|---|---|---|---|
Barbados
|
North Korea
|
|||
| Current $ | Constant $ | Current $ | Constant $ | |
| 1960 | $80,021,847 | $1,704,405,288 | - | - |
| 1961 | $85,363,759 | $1,835,585,349 | - | - |
| 1962 | $88,782,583 | $2,001,903,306 | - | - |
| 1963 | $99,893,761 | $1,900,238,227 | - | - |
| 1964 | $99,252,731 | $1,995,342,789 | - | - |
| 1965 | $105,021,997 | $2,223,507,114 | - | - |
| 1966 | $113,195,123 | $2,312,522,359 | - | - |
| 1967 | $125,554,009 | $2,558,485,385 | - | - |
| 1968 | $125,733,669 | $2,735,579,172 | - | - |
| 1969 | $141,393,142 | $2,941,251,088 | - | - |
| 1970 | $166,210,203 | $3,220,946,507 | - | - |
| 1971 | $186,826,503 | $3,346,973,204 | - | - |
| 1972 | $213,725,217 | $3,389,606,971 | - | - |
| 1973 | $260,767,828 | $3,435,051,446 | - | - |
| 1974 | $311,804,630 | $3,275,292,656 | - | - |
| 1975 | $402,178,605 | $3,213,062,096 | - | - |
| 1976 | $435,911,269 | $3,353,158,383 | - | - |
| 1977 | $495,097,668 | $3,475,287,311 | - | - |
| 1978 | $552,883,707 | $3,644,774,964 | - | - |
| 1979 | $670,362,452 | $3,932,457,349 | - | - |
| 1980 | $1,012,280,615 | $4,104,426,257 | - | - |
| 1981 | $1,114,204,743 | $4,026,452,355 | - | - |
| 1982 | $1,163,923,830 | $3,829,118,402 | - | - |
| 1983 | $1,236,016,507 | $3,848,311,978 | - | - |
| 1984 | $1,346,890,071 | $3,986,865,604 | - | - |
| 1985 | $1,409,536,121 | $4,030,650,950 | - | - |
| 1986 | $1,547,755,183 | $4,236,382,092 | - | - |
| 1987 | $1,704,370,308 | $4,346,145,354 | - | - |
| 1988 | $1,812,757,918 | $4,498,494,363 | - | - |
| 1989 | $2,006,165,167 | $4,660,440,160 | - | - |
| 1990 | $2,012,131,457 | $4,506,291,754 | - | - |
| 1991 | $2,020,583,702 | $4,330,550,570 | - | - |
| 1992 | $1,957,000,000 | $4,084,033,071 | - | - |
| 1993 | $2,063,342,117 | $4,116,422,240 | - | - |
| 1994 | $2,151,344,901 | $4,199,194,541 | - | - |
| 1995 | $2,216,974,096 | $4,283,766,242 | - | - |
| 1996 | $2,363,645,403 | $4,454,109,195 | - | - |
| 1997 | $2,498,384,130 | $4,665,238,573 | - | - |
| 1998 | $2,817,083,478 | $4,839,180,328 | - | - |
| 1999 | $2,951,822,205 | $4,855,374,938 | - | - |
| 2000 | $3,059,500,000 | $5,071,302,668 | - | - |
| 2001 | $3,054,500,000 | $4,951,342,796 | - | - |
| 2002 | $3,106,500,000 | $4,990,329,769 | - | - |
| 2003 | $3,209,500,000 | $5,098,893,435 | - | - |
| 2004 | $3,444,500,000 | $5,170,869,329 | - | - |
| 2005 | $3,819,500,000 | $5,375,400,852 | - | - |
| 2006 | $4,217,323,400 | $5,701,717,045 | - | - |
| 2007 | $4,675,767,950 | $5,820,266,226 | - | - |
| 2008 | $4,790,410,400 | $5,857,135,319 | - | - |
| 2009 | $4,466,809,600 | $5,563,266,710 | $23,356,470,000 | - |
| 2010 | $5,191,188,500 | $5,439,889,540 | $25,995,513,000 | - |
| 2011 | $5,342,183,800 | $5,400,100,308 | $29,005,020,000 | - |
| 2012 | $5,271,257,500 | $5,383,181,192 | $29,890,710,000 | - |
| 2013 | $5,361,158,350 | $5,328,790,506 | $30,588,922,000 | - |
| 2014 | $5,365,976,700 | $5,333,181,722 | $30,554,460,000 | - |
| 2015 | $5,288,057,750 | $5,288,057,750 | $30,723,030,000 | - |
| 2016 | $5,330,761,500 | $5,382,816,061 | $28,882,640,000 | - |
| 2017 | $5,517,340,450 | $5,389,730,073 | $29,105,440,000 | - |
| 2018 | $5,629,916,200 | $5,326,451,133 | $28,536,400,000 | - |
| 2019 | $5,788,288,000 | $5,361,210,777 | $28,222,880,000 | - |
| 2020 | $5,168,344,450 | $4,554,114,648 | $27,728,240,000 | - |
| 2021 | $5,275,242,050 | $4,542,503,210 | $32,301,720,000 | - |
| 2022 | $6,257,303,500 | $5,352,561,585 | $28,971,360,000 | - |
| 2023 | $6,720,733,200 | $5,571,685,827 | $32,155,360,000 | - |
| 2024 | $7,165,000,000 | $5,783,409,907 | $34,943,120,000 | - |
Economic indicators
|
Barbados
|
North Korea
|
|
|---|---|---|
| Gross domestic product |
$7.16B
2024 |
$34.9B
2024 |
| GDP rank |
158/197
2024 |
106/197
2024 |
| GDP growth |
6.61%
2023-2024 |
8.67%
2023-2024 |
| GDP per capita |
$25,366
2024 |
$1,319
2024 |
| GDP per capita rank |
47/197
2024 |
168/197
2024 |
| GDP per capita, PPP |
$22,672
2024 |
$1,700
2015 |
| Government debt |
$7.48B
2024 |
n/a |
| Debt-to-GDP ratio |
99%
2025 |
n/a |
| Government debt per person |
$26,478
2024 |
n/a |
| Government debt per person rank |
27/185
2024 |
n/a |
| Average annual personal income after taxes |
$17,631
2025 |
$1,642
2025 |
| 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 |
n/a |
| Income share by poorest 10% |
2.5%
2016 |
n/a |
| Government expenditure, % of GDP |
27.7%
2025 |
n/a |
| Consumer prices inflation |
-0.46%
2023-2024 |
n/a |
| Central bank interest rate |
2%
2020 |
n/a |
| Unemployment rate |
6.54%
2023 |
25.6%
2013 |
| Population |
282698
|
26621357
|
GDP per capita in Barbados vs North Korea
Barbados' GDP per capita is $25,366, ranking 47/197, compared to $1,319 in North Korea, ranking 168/197. Adjusted for purchasing power (GDP per capita PPP), Barbados ranks 85th at $22,672, while North Korea ranks 192nd at $1,700.
| Year | Current $ | |||
|---|---|---|---|---|
|
Barbados
|
North Korea
|
|||
| GDP per capita | GDP per capita, PPP | GDP per capita | GDP per capita, PPP | |
| 1960 | $347 | - | - | - |
| 1961 | $366 | - | - | - |
| 1962 | $377 | - | - | - |
| 1963 | $421 | - | - | - |
| 1964 | $414 | - | - | - |
| 1965 | $433 | - | - | - |
| 1966 | $462 | - | - | - |
| 1967 | $508 | - | - | - |
| 1968 | $506 | - | - | - |
| 1969 | $567 | - | - | - |
| 1970 | $666 | - | - | - |
| 1971 | $750 | - | - | - |
| 1972 | $856 | - | - | - |
| 1973 | $1,042 | - | - | - |
| 1974 | $1,243 | - | - | - |
| 1975 | $1,601 | - | - | - |
| 1976 | $1,734 | - | - | - |
| 1977 | $1,968 | - | - | - |
| 1978 | $2,198 | - | - | - |
| 1979 | $2,668 | - | - | - |
| 1980 | $4,025 | - | - | - |
| 1981 | $4,417 | - | - | - |
| 1982 | $4,599 | - | - | - |
| 1983 | $4,866 | - | - | - |
| 1984 | $5,284 | - | - | - |
| 1985 | $5,510 | - | - | - |
| 1986 | $6,031 | - | - | - |
| 1987 | $6,625 | - | - | - |
| 1988 | $7,033 | - | - | - |
| 1989 | $7,773 | - | - | - |
| 1990 | $7,781 | $11,072 | - | - |
| 1991 | $7,790 | $10,966 | - | - |
| 1992 | $7,519 | $10,541 | - | - |
| 1993 | $7,905 | $10,845 | - | - |
| 1994 | $8,223 | $11,274 | - | - |
| 1995 | $8,460 | $11,723 | - | - |
| 1996 | $9,012 | $12,401 | - | - |
| 1997 | $9,522 | $13,207 | - | - |
| 1998 | $10,734 | $13,851 | - | - |
| 1999 | $11,244 | $14,090 | - | $1,000 |
| 2000 | $11,675 | $15,076 | - | $1,000 |
| 2001 | $11,640 | $15,030 | - | - |
| 2002 | $11,760 | $15,283 | - | $1,000 |
| 2003 | $12,076 | $15,827 | - | $1,300 |
| 2004 | $12,886 | $16,388 | - | $1,700 |
| 2005 | $14,214 | $17,478 | - | $1,700 |
| 2006 | $15,620 | $19,019 | - | $1,800 |
| 2007 | $17,235 | $19,846 | - | $1,700 |
| 2008 | $17,566 | $20,250 | - | $1,800 |
| 2009 | $16,295 | $19,253 | $939 | $1,800 |
| 2010 | $18,860 | $18,978 | $1,040 | - |
| 2011 | $19,346 | $19,165 | $1,156 | $1,800 |
| 2012 | $19,034 | $17,937 | $1,186 | - |
| 2013 | $19,308 | $18,005 | $1,208 | - |
| 2014 | $19,278 | $17,753 | $1,201 | $1,800 |
| 2015 | $18,954 | $17,805 | $1,201 | $1,700 |
| 2016 | $19,066 | $18,014 | $1,124 | - |
| 2017 | $19,693 | $17,899 | $1,127 | - |
| 2018 | $20,056 | $18,551 | $1,100 | - |
| 2019 | $20,584 | $18,760 | $1,084 | - |
| 2020 | $18,347 | $15,824 | $1,061 | - |
| 2021 | $18,697 | $15,684 | $1,231 | - |
| 2022 | $22,164 | $19,786 | $1,100 | - |
| 2023 | $23,804 | $21,336 | $1,217 | - |
| 2024 | $25,366 | $22,672 | $1,319 | - |
Top exports between countries
|
Barbados
|
|
|---|---|
| Export category | Export value |
| Chemicals & pharma | $86K |
| Machinery & equipment | $62K |
|
North Korea
|
|
|---|---|
| Export category | Export value |
| Metals | $545K |
| Machinery & equipment | $248K |
| Chemicals & pharma | $10K |
| Textiles & consumer goods | $3K |
Balance of trade
|
Barbados
|
North Korea
|
|
|---|---|---|
Current account balance
|
-$296M
2017 |
n/a |
| Current account balance ranking |
97/189
2017 |
n/a |
| Current account balance, % of GDP |
-5.37%
2017 |
n/a |
| Goods imports |
$1.53B
2017 |
n/a |
| Goods exports |
$705M
2017 |
n/a |
| Service imports |
$687M
2017 |
n/a |
| Service exports |
$1.52B
2017 |
n/a |
| Exports of goods and services, % of GDP |
14.5%
2025 |
n/a |
Economic freedom indices
The indices of economic freedom below are issued by the Heritage Foundation. Higher scores indicate stronger economic health.
|
Barbados
|
North Korea
|
|
|---|---|---|
| Economic freedom | 68.9 | 3 |
| Economic freedom ranking | 42/197 | 197/197 |
| Property rights | 72.8 | 15.7 |
| Government integrity | 71.7 | 4 |
| Judicial effectiveness | 86.9 | 5.9 |
| Tax burden | 83.6 | 0 |
| Government spending | 74.1 | 0 |
| Fiscal health | 68.8 | 0 |
| Business freedom | 73.1 | 5 |
| Labor freedom | 56.4 | 5 |
| Monetary freedom | 78.4 | 0 |
| Trade freedom | 40.8 | 0 |
| Investment freedom | 60 | 0 |
| Financial freedom | 60 | 0 |
Economic freedom by year comparison
The Economic Freedom Index for Barbados is 68.9, ranking 42/197, compared to 3 for North Korea, ranking 197/197. The chart below displays a comparison of annual changes in economic freedom indexes.
| Year | Economic freedom index | |
|---|---|---|
|
Barbados
|
North Korea
|
|
| 1995 | - | 8.9 |
| 1996 | 62.3 | 8.9 |
| 1997 | 64.5 | 8.9 |
| 1998 | 67.9 | 8.9 |
| 1999 | 66.7 | 8.9 |
| 2000 | 69.5 | 8.9 |
| 2001 | 71.5 | 8.9 |
| 2002 | 73.6 | 8.9 |
| 2003 | 71.3 | 8.9 |
| 2004 | 69.4 | 8.9 |
| 2005 | 70.1 | 8 |
| 2006 | 71.9 | 4 |
| 2007 | 70 | 3 |
| 2008 | 71.3 | 3 |
| 2009 | 71.5 | 2 |
| 2010 | 68.3 | 1 |
| 2011 | 68.5 | 1 |
| 2012 | 69 | 1 |
| 2013 | 69.3 | 1.5 |
| 2014 | 68.3 | 1 |
| 2015 | 67.9 | 1.3 |
| 2016 | 68.3 | 2.3 |
| 2017 | 54.5 | 4.9 |
| 2018 | 57 | 5.8 |
| 2019 | 64.7 | 5.9 |
| 2020 | 61.4 | 4.2 |
| 2021 | 65 | 5.2 |
| 2022 | 71.3 | 3 |
| 2023 | 69.8 | 2.9 |
| 2024 | 66.8 | 2.9 |
| 2025 | 68.9 | 3 |
More economic indicators
|
Barbados
|
North Korea
|
|
|---|---|---|
| Services, % of GDP |
75.4%
2023 |
n/a |
| Industry, % of GDP |
13.2%
2023 |
n/a |
| Agriculture, forestry, and fishing, % of GDP |
1.85%
2023 |
n/a |
|
GNI, Atlas method
|
$6.68B
2024 |
n/a |
| GNI per capita, PPP |
$21,740
2024 |
n/a |
| Total reserves including gold |
$1.65B
2024 |
n/a |
| Total reserves ranking |
131/177
2024 |
n/a |
|
Net foreign direct investment
|
-$208M
2017 |
n/a |
|
Net inflows of foreign direct investment
|
$303M
2024 |
$203K
1989 |
|
Net outflows of foreign direct investment
|
$18.6M
2024 |
n/a |
| Poverty at national poverty lines |
25.7%
2016 |
n/a |
GDP per capita map
GDP per capita
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Economy comparisons
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.