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Barbados vs South Korea: Economic Indicators Comparison

South Korea with a GDP of $1.6T ranked the 12th largest economy in the world, while Barbados ranked 157th with $5.1B. By GDP 5-years average growth and GDP per capita, South Korea and Barbados ranked 93rd vs 159th and 33rd vs 50th, respectively.

Gross Domestic Product & Income

StatBarbadosSouth Korea
GDP$5.1B$1.6T
GDP growth, 1 year-0.5%2.7%
GDP growth, 5-years average0.7%3%
Population285k51.1M
GDP per capita$18k$31k
GDP per capita growth-0.64%2.33%
Purchasing Power Parity conversion factor1.93860.51
Price level ratio of PPP conversion factor GDP to market exchange rate0.970.78
GDP per capita, PPP adjusted$19k$41k
GNI, Atlas method$4.4B$1.6T
GNI per capita$15k$31k
GNI, PPP adjusted$4.7B$2.1T
GNI per capita, PPP adjusted$16k$40k

Financial system and Human development

StatBarbadosSouth Korea
Income Tax Rate40%42%
Corporate Tax Rate5.5%25%
Inflation, consumer prices3.6%1.5%
Inflation, GDP deflator3.6%0.3%
Unemployment9.6%3.8%
Economic Freedom Index61.474
Personal Freedom Index8.228.84
Human Freedom Index7.218.15
Property Rights Index56.682.5
Judical Effectiveness Index36.161
Business Freedom Index69.490.5
Fiscal Health Index63.196.7
Labor Freedom Index6056.2
Investment Freedom Index7070
Financial Freedom Index6070
Trade Freedom Index56.680
Monetary Freedom Index77.982.1
Government Spending Index69.267.7
Tax Burden Index73.663.9
Government Integrity Index4467.5
Corruption Perceptions Index6857
Life expectancy at birth, years7982.6
Suicide mortality rate, per 100,000 people0.826.9
Mortality caused by road traffic injury, per 100,000 people5.69.8
Intentional homicides, per 100,000 people10.50.6
International tourism, number of arrivals680k15.3M

Government debt & reserves

StatBarbadosSouth Korea
Central government debt, % of GDP124.5%40.7%
External debt stocks, % of GNIN/AN/A
External debt stocksN/AN/A
Short-term debt, % of total reservesN/AN/A
Total debt service, % of exports and primary incomeN/AN/A
Adjusted net savings including particulate emission damage, % of GNI-6.8%20.1%
Gross savings, % of GDP-0.5%34.7%
Gross capital formation, % of GDP11.3%30.2%
Total reserves including gold$431.8M$403.1B
Foreign direct investment net inflows$195.1M$14.5B

Exports, imports and economic structure

StatBarbadosSouth Korea
Exports of goods and services, % of GDP42%44%
Imports of goods and services, % of GDP40.9%39%
Current account balance (balance of payments)-$248.2M$76.4B
Revenue excluding grants, % of GDP26.7%27.8%
Grants excluding technical cooperation, BoP$13.8M$6.7M
Personal remittances received$108.3M$7.1B
Industry including construction value added, % of GDP14%35.1%
Agriculture, forestry and fishing value added, % of GDP1.3%2%
Charges for the use of intellectual property, payments BoP$12.1M$9.9B
Charges for the use of intellectual property, receipts BoP$33.4M$7.8B
Expense, % of GDP35.2%25.4%
Government Expenditure, % of GDP32%32.8%

Compare with countries close by GDP per capita

Barbados vs

CountryGDP
per capita
Population
Malta
$30k
423k
Cyprus
$28k
1.14M
Slovenia
$26k
2.07M
Taiwan
$25k
23.6M
Bahrain
$24k
1.33M
Portugal
$23k
10.6M
Saudi Arabia
$23k
33M
Estonia
$23k
1.32M
Czech Republic
$23k
10.6M
Vatican City
$21k
1k
Greece
$20k
10.8M
Curacao
$20k
160k
Slovakia
$19k
5.44M
Saint Kitts and Nevis
$19k
54.2k
Lithuania
$19k
2.79M
Latvia
$18k
1.95M
Uruguay
$17k
3.41M
Trinidad and Tobago
$17k
1.34M
Antigua and Barbuda
$17k
101k
Seychelles
$16k
95.8k
Oman
$16k
3.63M
Hungary
$16k
9.97M
Venezuela
$16k
28.5M
Chile
$16k
18.1M
Palau
$16k
20.9k
Panama
$16k
3.86M
Poland
$15k
38.5M
Croatia
$15k
4.11M
Romania
$12k
19.6M
Costa Rica
$12k
4.87M

South Korea vs

CountryGDP
per capita
Population
San Marino
$48k
31.6k
Germany
$48k
83M
Belgium
$48k
11.2M
Canada
$46k
35.7M
United Arab Emirates
$43k
9.35M
United Kingdom
$43k
65.1M
Andorra
$42k
76.2k
New Zealand
$42k
4.89M
Israel
$42k
8.89M
France
$41k
66.6M
Japan
$39k
127M
Italy
$34k
60.6M
Kuwait
$34k
4.66M
Bahamas
$32k
377k
Brunei
$32k
418k
Spain
$30k
46.5M
Malta
$30k
423k
Cyprus
$28k
1.14M
Slovenia
$26k
2.07M
Taiwan
$25k
23.6M
Bahrain
$24k
1.33M
Portugal
$23k
10.6M
Saudi Arabia
$23k
33M
Estonia
$23k
1.32M
Czech Republic
$23k
10.6M
Vatican City
$21k
1k
Greece
$20k
10.8M
Curacao
$20k
160k
Slovakia
$19k
5.44M
Saint Kitts and Nevis
$19k
54.2k