Skip to content

Economy of Barbados vs Oman compared: GDP & Debt

Updated on by Georank

Barbados has a GDP of $8.02B compared to $110B for Oman, ranking 157/197 and 70/197 by economy size, respectively.

Barbados has $7.55B in government debt (94.2% of GDP), compared to $39.2B (35.8% of GDP) in Oman.

Barbados vs Oman GDP by year

Barbados
Oman
1x
Year GDP, current $
Barbados Oman
2025 $8,016,550,000 $109,604,780,696
2024 $7,597,571,450 $107,137,198,700
2023 $7,223,248,150 $106,174,707,932
2022 $6,886,644,900 $109,852,795,839
2021 $5,948,900,600 $87,323,797,139
2020 $5,403,246,950 $75,909,492,848
2019 $6,166,710,800 $88,060,858,257
2018 $6,001,101,550 $91,505,851,756
2017 $5,847,381,600 $80,856,697,009
2016 $5,679,029,450 $75,128,738,622
2015 $5,699,619,150 $78,710,793,238
2014 $5,684,901,000 $92,699,089,727
2013 $5,660,059,700 $89,936,020,806
2012 $5,486,500,500 $87,408,842,653
2011 $5,563,162,050 $77,497,529,259
2010 $5,428,683,250 $64,993,498,049
2009 $4,466,809,600 $55,454,096,229
2008 $4,790,410,400 $69,804,681,404
2007 $4,675,767,950 $48,300,390,117
2006 $4,217,323,400 $42,577,633,290
2005 $3,819,500,000 $35,506,892,068
2004 $3,444,500,000 $28,378,933,680
2003 $3,209,500,000 $24,733,680,104
2002 $3,106,500,000 $23,065,539,662
2001 $3,054,500,000 $22,205,721,717
2000 $3,059,500,000 $22,259,557,867
1999 $2,951,822,205 $17,832,769,831
1998 $2,817,083,478 $16,044,213,264
1997 $2,498,384,130 $18,039,791,938
1996 $2,363,645,403 $17,402,080,624
1995 $2,216,974,096 $15,722,236,671
1994 $2,151,344,901 $14,715,214,564
1993 $2,063,342,117 $14,230,429,129
1992 $1,957,000,000 $14,183,615,085
1991 $2,020,583,702 $12,918,335,501
1990 $2,012,131,457 $13,310,273,082
1989 $2,006,165,167 $9,372,171,651
1988 $1,812,757,918 $8,386,215,865
1987 $1,704,370,308 $7,811,183,095
1986 $1,547,755,183 $7,324,167,369
1985 $1,409,536,121 $10,005,645,420
1984 $1,346,890,071 $8,821,443,151
1983 $1,236,016,507 $7,932,541,691
1982 $1,163,923,830 $7,554,719,456
1981 $1,114,204,743 $7,259,120,151
1980 $1,012,280,615 $5,981,760,278
1979 $670,362,452 $3,733,352,635
1978 $552,883,707 $2,740,301,390
1977 $495,097,668 $2,741,169,948
1976 $435,911,269 $2,560,220,035
1975 $402,178,605 $2,096,699,189
1974 $311,804,630 $1,645,917,776
1973 $260,767,828 $483,066,991
1972 $213,725,217 $366,883,548
1971 $186,826,503 $301,010,587
1970 $166,210,203 $256,319,795
1969 $141,393,142 $239,999,808
1968 $125,733,669 $188,879,849
1967 $125,554,009 $107,151,832
1966 $113,195,123 $67,759,973
1965 $105,021,997 $63,279,975
1964 $99,252,731 $61,872,526
1963 $99,893,761 $59,912,763
1962 $88,782,583 $56,273,202
1961 $85,363,759 $45,634,487
1960 $80,021,847 $44,234,656

Data sources: World Bank | Economy & Growth (1960–2025, retrieved 2026-07-08).

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

GDP per capita in Barbados vs Oman by year

Barbados
GDP per capita

GDP per capita, PPP
Oman
GDP per capita

GDP per capita, PPP
1x
Year Current $
Barbados Oman
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2025 $28,365 - $19,947 -
2024 $26,897 $24,823 $20,285 $41,740
2023 $25,584 $23,660 $21,028 $41,945
2022 $24,393 $22,193 $23,224 $42,616
2021 $21,084 $17,683 $19,403 $38,719
2020 $19,181 $16,555 $16,785 $35,163
2019 $21,929 $19,971 $19,180 $37,251
2018 $21,378 $19,777 $19,902 $37,780
2017 $20,871 $18,437 $17,820 $33,619
2016 $20,311 $19,176 $17,110 $33,334
2015 $20,429 $19,186 $18,808 $36,058
2014 $20,424 $18,595 $23,161 $44,236
2013 $20,384 $19,032 $23,458 $47,013
2012 $19,811 $19,605 $24,642 $49,989
2011 $20,146 $20,316 $25,188 $52,393
2010 $19,723 $20,033 $23,570 $55,667
2009 $16,295 $20,324 $20,656 $55,127
2008 $17,566 $21,376 $26,577 $52,841
2007 $17,235 $20,949 $18,793 $48,627
2006 $15,620 $20,076 $16,931 $46,091
2005 $14,214 $18,450 $14,435 $43,673
2004 $12,886 $17,299 $11,801 $42,142
2003 $12,076 $16,707 $10,464 $40,935
2002 $11,760 $16,133 $9,869 $41,511
2001 $11,640 $15,866 $9,612 $41,679
2000 $11,675 $15,914 $9,754 $39,443
1999 $11,244 $14,873 $7,915 $36,792
1998 $10,734 $14,621 $7,219 $36,666
1997 $9,522 $13,941 $8,235 $36,809
1996 $9,012 $13,090 $8,068 $34,661
1995 $8,460 $12,375 $7,414 $33,598
1994 $8,223 $11,900 $7,068 $31,925
1993 $7,905 $11,448 $7,039 $30,987
1992 $7,519 $11,127 $7,318 $29,773
1991 $7,790 $11,576 $6,977 $28,109
1990 $7,781 $11,687 $7,546 $26,904
1989 $7,773 - $5,591 -
1988 $7,033 - $5,279 -
1987 $6,625 - $5,204 -
1986 $6,031 - $5,182 -
1985 $5,510 - $7,549 -
1984 $5,284 - $7,070 -
1983 $4,866 - $6,714 -
1982 $4,599 - $6,759 -
1981 $4,417 - $6,866 -
1980 $4,025 - $5,974 -
1979 $2,668 - $3,934 -
1978 $2,198 - $3,044 -
1977 $1,968 - $3,205 -
1976 $1,734 - $3,143 -
1975 $1,601 - $2,692 -
1974 $1,243 - $2,203 -
1973 $1,042 - $670 -
1972 $856 - $524 -
1971 $750 - $442 -
1970 $666 - $387 -
1969 $567 - $372 -
1968 $506 - $300 -
1967 $508 - $174.7 -
1966 $462 - $113.2 -
1965 $433 - $108.1 -
1964 $414 - $108.1 -
1963 $421 - $106.8 -
1962 $377 - $102.3 -
1961 $366 - $84.5 -
1960 $347 - $83.4 -

Data sources: World Bank | Economy & Growth (1960–2025, retrieved 2026-07-08).

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

Barbados' GDP per capita is $28,365, ranking 48/197, compared to $19,947 in Oman, ranking 60/197. Adjusted for purchasing power (GDP per capita PPP), Barbados ranks 84th at $24,823, while Oman ranks 55th at $41,740.

Economic indicators

Barbados Oman
Gross domestic product
$8.02B
2025
$110B
2025
GDP rank
157/197
2025
70/197
2025
GDP growth
2.7%
2024-2025
2.4%
2024-2025
GDP per capita
$28,365
2025
$19,947
2025
GDP per capita rank
48/197
2025
60/197
2025
GDP per capita, PPP
$24,823
2024
$41,740
2024
GDP per capita PPP rank
84/197
2024
55/197
2024
Government debt
$7.55B
2025
$39.2B
2025
Debt-to-GDP ratio
94.2%
2025
35.8%
2025
Government debt per person
$26,731
2025
$7,132
2025
Government debt per person rank
28/185
2025
70/185
2025
Average annual personal income after taxes
$19,127
2026
$19,851
2026
Market capitalization of domestic companies
$2.78B
2020
$41.3B
2025
Number of billionaires
1
2026
2
2026
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%
2025
28.9%
2025
Consumer prices inflation
0.85%
2024-2025
1%
2024-2025
Central bank interest rate
2%
2020
4.5%
2025
Unemployment rate
6.03%
2024
3.3%
2024
Population
282789
5775345

Spending and national debt comparison by year

Barbados
Spending

Debt
Oman
Spending

Debt
1x
Year % of GDP
Barbados Oman
Government spending Government debt Government spending Government debt
2025 27% 94.2% 28.9% 35.8%
2024 28.1% 98.9% 28.7% 35.5%
2023 26.5% 104.1% 27.5% 37.4%
2022 26.9% 104% 31.1% 41.7%
2021 27.1% 108.6% 36.5% 61.9%
2020 30.6% 129.6% 44.5% 67.9%
2019 22.2% 101.6% 38.8% 52.5%
2018 25% 107.2% 38.3% 44.7%
2017 28% 134.6% 39.4% 40.1%
2016 28.6% 127.1% 44.6% 29.3%
2015 29.2% 122.5% 44.5% 13.9%
2014 27.4% 115.1% 41.4% 4.04%
2013 29.1% 111.7% 39.3% 4.66%
2012 28.9% 103.5% 38.6% 4.59%
2011 26.5% 94.4% 34.5% 4.44%
2010 28% 90.3% 30.6% 5.46%
2009 27.8% 83.5% 33.4% 5.8%
2008 27.1% 69.8% 25.6% 3.2%
2007 26.1% 64.9% 30.7% 4.44%
2006 25% 64.1% 30.1% 7.56%
2005 26.4% 62.7% 30.6% 8.39%
2004 26.2% 61% 34.1% 14.5%
2003 27.7% 61.8% 34% 13%
2002 29.1% 62% 34.1% 15.9%
2001 20.7% 59% 33.3% 22.5%
2000 19.7% 53.6% 31.2% 21.7%
1999 18.5% 47% 34.2% 28.9%
1998 17.8% 47.2% 36.1% 30.9%
1997 19.6% 52% 32.1% 20.8%
1996 19.1% 52.3% 33.5% 21.2%
1995 17.3% 52% 38.2% 21.9%
1994 15.9% 51.4% 39.7% 23.6%
1993 - - 40.1% 22.2%
1992 - - 40.1% 23.1%
1991 - - 37.4% 22.6%
1990 - - 36.5% 17.8%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2025, retrieved 2026-07-08).

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

In 2025, Barbados' government spending was $2.16B, accounting for 27% of its GDP, while Oman spent $31.7B, or 28.9% of GDP.

Debt-to-GDP ratio is 94.2% in Barbados and 35.8% in Oman, ranking 28/185 and 142/185, respectively.

Government deficit by year

Deficit/surplus
Barbados

Oman
1x
Year Deficit/surplus, % of GDP
Barbados Oman
2025 -0.31% 1.04%
2024 -0.84% 3.22%
2023 -1.57% 6.72%
2022 -1.74% 10.3%
2021 -3.88% -3.17%
2020 -4.19% -15.7%
2019 2.86% -4.83%
2018 -0.32% -6.72%
2017 -3.64% -10.5%
2016 -4.55% -19.6%
2015 -7.58% -13.5%
2014 -6.2% -1.58%
2013 -8.46% 2.78%
2012 -6.69% 4.07%
2011 -3.47% 8.24%
2010 -7.1% 4.95%
2009 -6.19% -0.27%
2008 -3.94% 14.7%
2007 -4.08% 10.5%
2006 -3.13% 12.2%
2005 -2.78% 11.2%
2004 -2.73% 5.43%
2003 -2.86% 5.92%
2002 -4.96% 5.31%
2001 3.83% 7.55%
2000 4.68% 12.2%
1999 5.06% 0.3%
1998 5.63% -4.37%
1997 5.15% 4.77%
1996 3.5% 2.22%
1995 5.79% -3.9%
1994 6.28% -7.47%
1993 - -6.84%
1992 - -4.85%
1991 - 0.12%
1990 - 4.78%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2025, retrieved 2026-07-08).

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

In 2025, Barbados' government deficit, the difference between spending and revenue, was $24.8M, equivalent to 0.31% of GDP. This compares to Oman's surplus of $1.14B, or 1.04% of GDP.

Over the past 32 years, Barbados recorded a fiscal deficit in 23 of those years, while Oman ran a deficit in 12 years. On average, Barbados posted an annual deficit equal to 1.51% of GDP, compared to surplus of 1.31% of GDP for Oman.

Inflation comparison by year

Inflation
Barbados

Oman
1x
Year Consumer prices inflation
Barbados Oman
2025 0.85% 1%
2024 1.45% 0.6%
2023 3.19% 1%
2022 - 2.5%
2021 - 1.7%
2020 - -0.4%
2019 1.68% 0.5%
2018 3.11% 0.7%
2017 4.66% 1.5%
2016 1.28% 0.9%
2015 -1.11% 0.1%
2014 1.77% 1.2%
2013 1.81% 1.3%
2012 4.53% 2.9%
2011 9.43% 4.1%
2010 5.82% 3.3%
2009 3.64% 3.5%
2008 8.11% 12.6%
2007 4.03% 5.9%
2006 7.31% 3.2%
2005 6.08% 1.9%
2004 1.39% 0.8%
2003 1.62% 0.2%
2002 0.13% -0.3%
2001 2.58% -0.8%
2000 2.44% -1.2%
1999 1.56% 0.5%
1998 -1.27% 0.4%
1997 7.71% -0.4%

Data sources: International Monetary Fund (IMF) | World Economic Outlook (1997–2025, retrieved 2026-07-08); World Bank | Economy & Growth (1997–2025, retrieved 2026-07-08).

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

Over the past 29 years, Barbados has recorded an average annual inflation rate of 3.22%, compared with 1.7% in Oman. In 2025, inflation was 0.85% in Barbados and 1% in Oman.

Top exports between countries

Barbados
Export category Export value
Oman
Export category Export value
Machinery & equipment $59K
Chemicals & pharma $25K
Animal & marine products $3K
Raw agricultural goods $2K
Processed food, beverages & tobacco $1K

Balance of trade

Barbados Oman
Current account balance
-$296M
2017
$3.07B
2024
Current account balance ranking
96/190
2017
37/190
2024
Current account balance, % of GDP
-5.07%
2017
+2.86%
2024
Goods imports
$1.53B
2017
$39.5B
2024
Goods exports
$705M
2017
$65.2B
2024
Service imports
$687M
2017
$12.8B
2024
Service exports
$1.52B
2017
$5.64B
2024
Imports of goods and services, % of GDP n/a
48.8%
2024
Exports of goods and services, % of GDP
14.5%
2026
66.1%
2024

Economic freedom indices

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

Barbados Oman
Economic freedom 70.4 68.5
Economic freedom ranking 34/197 45/197
Property rights 76.4 71.8
Government integrity 71.3 49.4
Judicial effectiveness 87.3 28
Tax burden 83.2 97.6
Government spending 74.5 74.7
Fiscal health 76.5 97.5
Business freedom 72.3 67.8
Labor freedom 54.3 47.7
Monetary freedom 80.8 79.2
Trade freedom 48.2 78.4
Investment freedom 60 70
Financial freedom 60 60

Economic freedom comparison by year

Barbados
Oman
1x
Year Economic freedom index
Barbados Oman
2026 70.4 68.5
2025 68.9 65.4
2024 66.8 62.9
2023 69.8 58.5
2022 71.3 56.6
2021 65 64.6
2020 61.4 63.6
2019 64.7 61
2018 57 61
2017 54.5 62.1
2016 68.3 67.1
2015 67.9 66.7
2014 68.3 67.4
2013 69.3 68.1
2012 69 67.9
2011 68.5 69.8
2010 68.3 67.7
2009 71.5 67
2008 71.3 67.3
2007 70 65.8
2006 71.9 63.7
2005 70.1 66.5
2004 69.4 66.9
2003 71.3 64.6
2002 73.6 64
2001 71.5 67.7
2000 69.5 64.1
1999 66.7 64.9
1998 67.9 64.9
1997 64.5 64.5
1996 62.3 65.4
1995 - 70.2

Data sources: The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-07-08).

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

The Economic Freedom Index for Barbados is 70.4, ranking 34/197, compared to 68.5 for Oman, ranking 45/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Barbados Oman
Services, % of GDP
75.8%
2024
47.2%
2025
Industry, % of GDP
12.2%
2024
52.7%
2025
Agriculture, forestry, and fishing, % of GDP
1.55%
2024
2.81%
2025
GNI, Atlas method
$7.65B
2025
$103B
2024
GNI per capita, PPP
$24,840
2025
$39,390
2024
Total reserves including gold
$1.65B
2024
$18.3B
2024
Total reserves ranking
131/177
2024
68/177
2024
Net foreign direct investment
-$208M
2017
-$12.6B
2024
Net inflows of foreign direct investment
$303M
2024
$12.5B
2024
Net outflows of foreign direct investment
$18.6M
2024
-$143M
2024
Poverty at national poverty lines
25.7%
2016
n/a
Gross capital formation, % of GDP n/a
24.8%
2024

GDP per capita map

1x

Data sources: World Bank | Economy & Growth (1985–2025, retrieved 2026-07-08); U.S. Census Bureau (1985–2025, retrieved 2026-07-08).

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

Compare countries by 7 more topics

Help us show the world through your eyes

Share a photo of your city and help others discover what it looks like to live there. Your contribution makes our data come alive.

Data sources:

  1. World Bank | Economy & Growth (1960–2025, retrieved 2026-07-08)
  2. International Monetary Fund (IMF) | Fiscal Monitor (1990–2025, retrieved 2026-07-08)
  3. The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-07-08)
  4. U.S. Census Bureau (1985–2025, retrieved 2026-07-08)
  5. TradeMap (2022–2024, retrieved 2026-07-08)
  6. United Nations | World Population Prospects (2026, retrieved 2026-07-08)
  7. LivingCost (2026, retrieved 2026-07-08)

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.

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.