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Economy of Barbados vs Saint Lucia compared: GDP & Debt

Updated on by Georank

Barbados has a GDP of $8.02B compared to $2.66B for Saint Lucia, ranking 157/197 and 173/197 by economy size, respectively.

Barbados has $7.55B in government debt (94.2% of GDP), compared to $2.05B (77.1% of GDP) in Saint Lucia.

Barbados vs Saint Lucia GDP by year

Barbados
Saint Lucia
1x
Year GDP, current $
Barbados Saint Lucia
2025 $8,016,550,000 $2,656,444,444
2024 $7,597,571,450 $2,605,148,148
2023 $7,223,248,150 $2,441,259,259
2022 $6,886,644,900 $2,319,888,889
2021 $5,948,900,600 $1,871,111,111
2020 $5,403,246,950 $1,521,740,741
2019 $6,166,710,800 $2,090,074,074
2018 $6,001,101,550 $2,060,955,556
2017 $5,847,381,600 $1,998,503,704
2016 $5,679,029,450 $1,868,544,444
2015 $5,699,619,150 $1,807,640,741
2014 $5,684,901,000 $1,749,185,185
2013 $5,660,059,700 $1,660,392,593
2012 $5,486,500,500 $1,598,207,407
2011 $5,563,162,050 $1,568,370,370
2010 $5,428,683,250 $1,482,385,185
2009 $4,466,809,600 $1,401,507,889
2008 $4,790,410,400 $1,437,731,111
2007 $4,675,767,950 $1,336,088,815
2006 $4,217,323,400 $1,268,319,185
2005 $3,819,500,000 $1,135,555,556
2004 $3,444,500,000 $1,066,666,667
2003 $3,209,500,000 $987,407,407
2002 $3,106,500,000 $900,000,000
2001 $3,054,500,000 $892,592,593
2000 $3,059,500,000 $932,592,593
1999 $2,951,822,205 $921,851,852
1998 $2,817,083,478 $877,407,407
1997 $2,498,384,130 $805,925,926
1996 $2,363,645,403 $788,888,889
1995 $2,216,974,096 $762,962,963
1994 $2,151,344,901 $713,703,704
1993 $2,063,342,117 $684,814,815
1992 $1,957,000,000 $674,074,074
1991 $2,020,583,702 $613,703,704
1990 $2,012,131,457 $579,629,630
1989 $2,006,165,167 $486,666,667
1988 $1,812,757,918 $429,629,630
1987 $1,704,370,308 $375,555,556
1986 $1,547,755,183 $340,000,000
1985 $1,409,536,121 $284,444,444
1984 $1,346,890,071 $251,481,481
1983 $1,236,016,507 $197,037,037
1982 $1,163,923,830 $183,333,333
1981 $1,114,204,743 $194,444,444
1980 $1,012,280,615 $170,370,370
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 (1960–2025, retrieved 2026-07-08).

GeoRank.org/economy/barbados/saint-lucia | CC BY

GDP per capita in Barbados vs Saint Lucia by year

Barbados
GDP per capita

GDP per capita, PPP
Saint Lucia
GDP per capita

GDP per capita, PPP
1x
Year Current $
Barbados Saint Lucia
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2025 $28,365 - $14,746 -
2024 $26,897 $24,823 $14,494 $27,567
2023 $25,584 $23,660 $13,617 $25,975
2022 $24,393 $22,193 $12,976 $24,599
2021 $21,084 $17,683 $10,481 $19,101
2020 $19,181 $16,555 $8,537 $14,912
2019 $21,929 $19,971 $11,764 $18,710
2018 $21,378 $19,777 $11,643 $17,433
2017 $20,871 $18,437 $11,333 $16,131
2016 $20,311 $19,176 $10,638 $15,307
2015 $20,429 $19,186 $10,335 $14,353
2014 $20,424 $18,595 $10,045 $14,403
2013 $20,384 $19,032 $9,577 $14,010
2012 $19,811 $19,605 $9,260 $13,443
2011 $20,146 $20,316 $9,129 $13,471
2010 $19,723 $20,033 $8,674 $12,718
2009 $16,295 $20,324 $8,251 $12,600
2008 $17,566 $21,376 $8,517 $12,969
2007 $17,235 $20,949 $7,964 $12,199
2006 $15,620 $20,076 $7,611 $11,758
2005 $14,214 $18,450 $6,863 $10,818
2004 $12,886 $17,299 $6,495 $10,610
2003 $12,076 $16,707 $6,059 $9,707
2002 $11,760 $16,133 $5,568 $9,205
2001 $11,640 $15,866 $5,570 $9,106
2000 $11,675 $15,914 $5,880 $9,314
1999 $11,244 $14,873 $5,883 $9,214
1998 $10,734 $14,621 $5,673 $8,965
1997 $9,522 $13,941 $5,282 $8,456
1996 $9,012 $13,090 $5,244 $8,490
1995 $8,460 $12,375 $5,148 $8,222
1994 $8,223 $11,900 $4,892 $8,041
1993 $7,905 $11,448 $4,765 $7,865
1992 $7,519 $11,127 $4,760 $7,753
1991 $7,790 $11,576 $4,399 $7,127
1990 $7,781 $11,687 $4,205 $6,951
1989 $7,773 - $3,565 -
1988 $7,033 - $3,182 -
1987 $6,625 - $2,819 -
1986 $6,031 - $2,591 -
1985 $5,510 - $2,202 -
1984 $5,284 - $1,979 -
1983 $4,866 - $1,576 -
1982 $4,599 - $1,489 -
1981 $4,417 - $1,605 -
1980 $4,025 - $1,428 -
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 (1960–2025, retrieved 2026-07-08).

GeoRank.org/economy/barbados/saint-lucia | CC BY

Barbados' GDP per capita is $28,365, ranking 48/197, compared to $14,746 in Saint Lucia, ranking 72/197. Adjusted for purchasing power (GDP per capita PPP), Barbados ranks 84th at $24,823, while Saint Lucia ranks 75th at $27,567.

Economic indicators

Barbados Saint Lucia
Gross domestic product
$8.02B
2025
$2.66B
2025
GDP rank
157/197
2025
173/197
2025
GDP growth
2.7%
2024-2025
-0.57%
2024-2025
GDP per capita
$28,365
2025
$14,746
2025
GDP per capita rank
48/197
2025
72/197
2025
GDP per capita, PPP
$24,823
2024
$27,567
2024
GDP per capita PPP rank
84/197
2024
75/197
2024
Government debt
$7.55B
2025
$2.05B
2025
Debt-to-GDP ratio
94.2%
2025
77.1%
2025
Government debt per person
$26,731
2025
$11,365
2025
Government debt per person rank
28/185
2025
53/185
2025
Average annual personal income after taxes
$19,127
2026
$12,464
2026
Market capitalization of domestic companies
$2.78B
2020
n/a
Number of billionaires
1
2026
n/a
Income share by richest 10%
25.8%
2016
34.1%
2015
Income share by poorest 10%
2.5%
2016
2.1%
2015
Government expenditure, % of GDP
27%
2025
25.2%
2025
Consumer prices inflation
0.85%
2024-2025
2.03%
2024-2025
Central bank interest rate
2%
2020
n/a
Unemployment rate
6.03%
2024
7.66%
2025
Population
282789
180676

Spending and national debt comparison by year

Barbados
Spending

Debt
Saint Lucia
Spending

Debt
1x
Year % of GDP
Barbados Saint Lucia
Government spending Government debt Government spending Government debt
2025 27% 94.2% 25.2% 77.1%
2024 28.1% 98.9% 24.4% 76.7%
2023 26.5% 104.1% 25.3% 75.2%
2022 26.9% 104% 23.8% 73.9%
2021 27.1% 108.6% 26.7% 81.9%
2020 30.6% 129.6% 33.1% 94.4%
2019 22.2% 101.6% 24.6% 62.1%
2018 25% 107.2% 23.2% 60.3%
2017 28% 134.6% 23% 59.9%
2016 28.6% 127.1% 22.6% 60.2%
2015 29.2% 122.5% 22.1% 60.6%
2014 27.4% 115.1% 22.6% 61.9%
2013 29.1% 111.7% 24.3% 61.2%
2012 28.9% 103.5% 27.1% 60.2%
2011 26.5% 94.4% 26.9% 54.9%
2010 28% 90.3% 25.6% 52.2%
2009 27.8% 83.5% 24.2% 50.2%
2008 27.1% 69.8% 22.3% 46.9%
2007 26.1% 64.9% 22.2% 48.2%
2006 25% 64.1% 24.4% 48%
2005 26.4% 62.7% 25.3% 50.4%
2004 26.2% 61% 22.5% 48.8%
2003 27.7% 61.8% 22.5% 44.7%
2002 29.1% 62% 23% 47.7%
2001 20.7% 59% 22% 38%
2000 19.7% 53.6% 20.9% 32.8%
1999 18.5% 47% 20.9% 28.8%
1998 17.8% 47.2% 18.6% 29.1%
1997 19.6% 52% 19% 26.6%
1996 19.1% 52.3% 18.8% 23.9%
1995 17.3% 52% 19% 22.7%
1994 15.9% 51.4% 18.7% 23.4%
1993 - - 21.6% 22.7%
1992 - - 18.3% 22.1%
1991 - - 18% 19.3%
1990 - - 16.5% 16.7%
1989 - - 19% 18.1%
1988 - - 18.2% 18.6%
1987 - - 19.9% 19.6%
1986 - - 21.1% 17.2%
1985 - - 20.4% 17.1%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2025, retrieved 2026-07-08); International Monetary Fund (IMF) | Public Finances in Modern History (1985–1989, retrieved 2026-07-08).

GeoRank.org/economy/barbados/saint-lucia | CC BY

In 2025, Barbados' government spending was $2.16B, accounting for 27% of its GDP, while Saint Lucia spent $671M, or 25.2% of GDP.

Debt-to-GDP ratio is 94.2% in Barbados and 77.1% in Saint Lucia, ranking 28/185 and 48/185, respectively.

Government deficit by year

Deficit/surplus
Barbados

Saint Lucia
1x
Year Deficit/surplus, % of GDP
Barbados Saint Lucia
2025 -0.31% -2.88%
2024 -0.84% -1.81%
2023 -1.57% -3.18%
2022 -1.74% -2.48%
2021 -3.88% -5.35%
2020 -4.19% -11.5%
2019 2.86% -2.95%
2018 -0.32% -1.22%
2017 -3.64% -2.09%
2016 -4.55% -1.53%
2015 -7.58% -1.18%
2014 -6.2% -2.29%
2013 -8.46% -3.98%
2012 -6.69% -6.93%
2011 -3.47% -5.35%
2010 -7.1% -4.11%
2009 -6.19% -2.63%
2008 -3.94% -0.72%
2007 -4.08% -1.59%
2006 -3.13% -5.01%
2005 -2.78% -6%
2004 -2.73% -2.58%
2003 -2.86% -3.17%
2002 -4.96% -3.03%
2001 3.83% -3.07%
2000 4.68% -1.17%
1999 5.06% 1.61%
1998 5.63% 2.22%
1997 5.15% -1.1%
1996 3.5% -0.57%
1995 5.79% -0.13%
1994 6.28% -0.02%
1993 - -0.25%
1992 - -0.66%
1991 - -0.42%
1990 - 0.29%
1989 - 0.89%
1988 - 2.02%
1987 - 0.56%
1986 - -1.61%
1985 - -1.5%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2025, retrieved 2026-07-08); International Monetary Fund (IMF) | Public Finances in Modern History (1985–1989, retrieved 2026-07-08).

GeoRank.org/economy/barbados/saint-lucia | 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 Saint Lucia's deficit of $76.5M, or 2.88% of GDP.

Over the past 32 years, Barbados recorded a fiscal deficit in 23 of those years, while Saint Lucia ran a deficit in 30 years. On average, Barbados posted an annual deficit equal to 1.51% of GDP, compared to deficit of 2.68% of GDP for Saint Lucia.

Inflation comparison by year

Inflation
Barbados

Saint Lucia
1x
Year Consumer prices inflation
Barbados Saint Lucia
2025 0.85% 2.03%
2024 1.45% -0.67%
2023 3.19% 3.82%
2022 - 9.65%
2021 - 2.41%
2020 - -1.76%
2019 1.68% 0.54%
2018 3.11% 1.94%
2017 4.66% 0.1%
2016 1.28% -3.08%
2015 -1.11% -0.98%
2014 1.77% 3.52%
2013 1.81% 1.47%
2012 4.53% 4.18%
2011 9.43% 2.77%
2010 5.82% 3.25%
2009 3.64% -0.16%
2008 8.11% 5.55%
2007 4.03% 2.82%
2006 7.31% 2.4%
2005 6.08% 3.9%
2004 1.39% 1.46%
2003 1.62% 1.03%
2002 0.13% -0.26%
2001 2.58% 5.31%
2000 2.44% 3.71%
1999 1.56% 3.5%
1998 -1.27% 3.2%
1997 7.71% -0.006%

Data sources: World Bank | Economy & Growth (1997–2025, retrieved 2026-07-08).

GeoRank.org/economy/barbados/saint-lucia | CC BY

Over the past 29 years, Barbados has recorded an average annual inflation rate of 3.22%, compared with 2.13% in Saint Lucia. In 2025, inflation was 0.85% in Barbados and 2.03% in Saint Lucia.

Top exports between countries

Barbados
Export category Export value
Processed food, beverages & tobacco $8.92M
Chemicals & pharma $4.83M
Metals $2.14M
Raw materials & minerals $1.55M
Machinery & equipment $1.31M
Wood & paper products $798K
Textiles & consumer goods $330K
Animal & marine products $172K
Raw agricultural goods $53K
Miscellaneous $37K
Saint Lucia
Export category Export value
Processed food, beverages & tobacco $2.82M
Raw agricultural goods $1.08M
Raw materials & minerals $332K
Wood & paper products $314K
Chemicals & pharma $274K
Textiles & consumer goods $266K
Machinery & equipment $232K
Animal & marine products $132K
Metals $62K
Precious metals & jewellery $37K

Balance of trade

Barbados Saint Lucia
Current account balance
-$296M
2017
-$166M
2025
Current account balance ranking
96/190
2017
89/190
2025
Current account balance, % of GDP
-5.07%
2017
-6.26%
2025
Goods imports
$1.53B
2017
$834M
2025
Goods exports
$705M
2017
$144M
2025
Service imports
$687M
2017
$672M
2025
Service exports
$1.52B
2017
$1.4B
2025
Exports of goods and services, % of GDP
14.5%
2026
19%
2026

Economic freedom indices

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

Barbados Saint Lucia
Economic freedom 70.4 67.5
Economic freedom ranking 34/197 57/197
Property rights 76.4 64.3
Government integrity 71.3 59.7
Judicial effectiveness 87.3 77.3
Tax burden 83.2 77.7
Government spending 74.5 82.6
Fiscal health 76.5 80
Business freedom 72.3 71.9
Labor freedom 54.3 65.2
Monetary freedom 80.8 81
Trade freedom 48.2 60
Investment freedom 60 50
Financial freedom 60 40

Economic freedom comparison by year

Barbados
Saint Lucia
1x
Year Economic freedom index
Barbados Saint Lucia
2026 70.4 67.5
2025 68.9 67
2024 66.8 62.2
2023 69.8 60.7
2022 71.3 64.3
2021 65 67.5
2020 61.4 68.2
2019 64.7 68.7
2018 57 67.6
2017 54.5 65
2016 68.3 70
2015 67.9 70.2
2014 68.3 70.7
2013 69.3 70.4
2012 69 71.3
2011 68.5 70.8
2010 68.3 70.5
2009 71.5 68.8
2008 71.3 -
2007 70 -
2006 71.9 -
2005 70.1 -
2004 69.4 -
2003 71.3 -
2002 73.6 -
2001 71.5 -
2000 69.5 -
1999 66.7 -
1998 67.9 -
1997 64.5 -
1996 62.3 -

Data sources: The Heritage Foundation | Economic Freedom Index (1996–2026, retrieved 2026-07-08).

GeoRank.org/economy/barbados/saint-lucia | CC BY

The Economic Freedom Index for Barbados is 70.4, ranking 34/197, compared to 67.5 for Saint Lucia, ranking 57/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Barbados Saint Lucia
Services, % of GDP
75.8%
2024
73.8%
2025
Industry, % of GDP
12.2%
2024
10.7%
2025
Agriculture, forestry, and fishing, % of GDP
1.55%
2024
1.66%
2025
GNI, Atlas method
$7.65B
2025
$2.42B
2025
GNI per capita, PPP
$24,840
2025
$26,180
2025
Total reserves including gold
$1.65B
2024
$447M
2025
Total reserves ranking
131/177
2024
160/177
2025
Net foreign direct investment
-$208M
2017
-$175M
2025
Net inflows of foreign direct investment
$303M
2024
$187M
2024
Net outflows of foreign direct investment
$18.6M
2024
-$350K
2024
Servicing debt to the IMF, % of GNI n/a
3.35%
2024
Poverty at national poverty lines
25.7%
2016
25%
2016

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/saint-lucia | CC BY

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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 (1996–2026, retrieved 2026-07-08)
  4. U.S. Census Bureau (1985–2025, retrieved 2026-07-08)
  5. International Monetary Fund (IMF) | Public Finances in Modern History (1985–1989, retrieved 2026-07-08)
  6. TradeMap (2020–2025, retrieved 2026-07-08)
  7. United Nations | World Population Prospects (2026, retrieved 2026-07-08)
  8. 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.

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