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Economy of Barbados vs Vanuatu compared: GDP & Debt

Updated on by Georank

Barbados has a GDP of $8.02B compared to $1.35B for Vanuatu, ranking 157/197 and 185/197 by economy size, respectively.

Barbados has $7.55B in government debt (94.2% of GDP), compared to $554M (40.9% of GDP) in Vanuatu.

Barbados vs Vanuatu GDP by year

Barbados
Vanuatu
1x
Year GDP, current $
Barbados Vanuatu
2025 $8,016,550,000 $1,353,658,841
2024 $7,597,571,450 $1,297,956,615
2023 $7,223,248,150 $1,188,137,265
2022 $6,886,644,900 $1,151,863,790
2021 $5,948,900,600 $1,093,826,089
2020 $5,403,246,950 $1,017,403,363
2019 $6,166,710,800 $1,061,547,513
2018 $6,001,101,550 $1,034,402,941
2017 $5,847,381,600 $998,536,155
2016 $5,679,029,450 $908,725,513
2015 $5,699,619,150 $855,360,240
2014 $5,684,901,000 $879,185,478
2013 $5,660,059,700 $863,347,172
2012 $5,486,500,500 $747,839,698
2011 $5,563,162,050 $770,153,588
2010 $5,428,683,250 $670,712,980
2009 $4,466,809,600 $592,622,319
2008 $4,790,410,400 $590,748,429
2007 $4,675,767,950 $516,392,923
2006 $4,217,323,400 $439,358,587
2005 $3,819,500,000 $394,962,433
2004 $3,444,500,000 $364,996,869
2003 $3,209,500,000 $314,471,413
2002 $3,106,500,000 $262,596,536
2001 $3,054,500,000 $257,926,882
2000 $3,059,500,000 $272,014,628
1999 $2,951,822,205 $268,006,973
1998 $2,817,083,478 $262,293,411
1997 $2,498,384,130 $272,771,209
1996 $2,363,645,403 $261,370,044
1995 $2,216,974,096 $249,333,250
1994 $2,151,344,901 $233,701,301
1993 $2,063,342,117 $200,491,853
1992 $1,957,000,000 $209,088,825
1991 $2,020,583,702 $201,334,169
1990 $2,012,131,457 $168,879,207
1989 $2,006,165,167 $154,013,202
1988 $1,812,757,918 $158,351,368
1987 $1,704,370,308 $139,464,174
1986 $1,547,755,183 $126,498,935
1985 $1,409,536,121 $131,856,421
1984 $1,346,890,071 $144,482,515
1983 $1,236,016,507 $117,389,554
1982 $1,163,923,830 $114,501,913
1981 $1,114,204,743 $113,781,796
1980 $1,012,280,615 $121,185,498
1979 $670,362,452 $119,258,835
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/vanuatu | CC BY

GDP per capita in Barbados vs Vanuatu by year

Barbados
GDP per capita

GDP per capita, PPP
Vanuatu
GDP per capita

GDP per capita, PPP
1x
Year Current $
Barbados Vanuatu
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2025 $28,365 - $4,039 -
2024 $26,897 $24,823 $3,960 $3,606
2023 $25,584 $23,660 $3,708 $3,568
2022 $24,393 $22,193 $3,680 $3,453
2021 $21,084 $17,683 $3,576 $3,136
2020 $19,181 $16,555 $3,404 $3,118
2019 $21,929 $19,971 $3,636 $3,315
2018 $21,378 $19,777 $3,626 $3,233
2017 $20,871 $18,437 $3,585 $3,146
2016 $20,311 $19,176 $3,340 $3,030
2015 $20,429 $19,186 $3,214 $2,966
2014 $20,424 $18,595 $3,378 $2,890
2013 $20,384 $19,032 $3,393 $2,832
2012 $19,811 $19,605 $3,005 $2,834
2011 $20,146 $20,316 $3,163 $2,816
2010 $19,723 $20,033 $2,815 $2,733
2009 $16,295 $20,324 $2,546 $2,730
2008 $17,566 $21,376 $2,604 $2,701
2007 $17,235 $20,949 $2,334 $2,573
2006 $15,620 $20,076 $2,035 $2,496
2005 $14,214 $18,450 $1,874 $2,287
2004 $12,886 $17,299 $1,774 $2,157
2003 $12,076 $16,707 $1,567 $2,070
2002 $11,760 $16,133 $1,341 $1,995
2001 $11,640 $15,866 $1,350 $2,125
2000 $11,675 $15,914 $1,460 $2,206
1999 $11,244 $14,873 $1,472 $2,084
1998 $10,734 $14,621 $1,471 $2,091
1997 $9,522 $13,941 $1,562 $2,087
1996 $9,012 $13,090 $1,529 $1,998
1995 $8,460 $12,375 $1,492 $1,961
1994 $8,223 $11,900 $1,431 $1,946
1993 $7,905 $11,448 $1,257 $1,789
1992 $7,519 $11,127 $1,344 $1,777
1991 $7,790 $11,576 $1,326 $1,737
1990 $7,781 $11,687 $1,141 $1,670
1989 $7,773 - $1,067 -
1988 $7,033 - $1,125 -
1987 $6,625 - $1,017 -
1986 $6,031 - $946 -
1985 $5,510 - $1,012 -
1984 $5,284 - $1,137 -
1983 $4,866 - $947 -
1982 $4,599 - $946 -
1981 $4,417 - $962 -
1980 $4,025 - $1,048 -
1979 $2,668 - $1,055 -
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/vanuatu | CC BY

Barbados' GDP per capita is $28,365, ranking 48/197, compared to $4,039 in Vanuatu, ranking 133/197. Adjusted for purchasing power (GDP per capita PPP), Barbados ranks 84th at $24,823, while Vanuatu ranks 170th at $3,606.

Economic indicators

Barbados Vanuatu
Gross domestic product
$8.02B
2025
$1.35B
2025
GDP rank
157/197
2025
185/197
2025
GDP growth
2.7%
2024-2025
3.05%
2024-2025
GDP per capita
$28,365
2025
$4,039
2025
GDP per capita rank
48/197
2025
133/197
2025
GDP per capita, PPP
$24,823
2024
$3,606
2024
GDP per capita PPP rank
84/197
2024
170/197
2024
Government debt
$7.55B
2025
$554M
2025
Debt-to-GDP ratio
94.2%
2025
40.9%
2025
Government debt per person
$26,731
2025
$1,654
2025
Government debt per person rank
28/185
2025
125/185
2025
Average annual personal income after taxes
$19,127
2026
$2,801
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
24.7%
2019
Income share by poorest 10%
2.5%
2016
3%
2019
Government expenditure, % of GDP
27%
2025
35.5%
2025
Consumer prices inflation
0.85%
2024-2025
0.66%
2024-2025
Central bank interest rate
2%
2020
n/a
Unemployment rate
6.03%
2024
1.41%
2025
Population
282789
346488

Spending and national debt comparison by year

Barbados
Spending

Debt
Vanuatu
Spending

Debt
1x
Year % of GDP
Barbados Vanuatu
Government spending Government debt Government spending Government debt
2025 27% 94.2% 35.5% 40.9%
2024 28.1% 98.9% 33.1% 39.1%
2023 26.5% 104.1% 38.9% 39.2%
2022 26.9% 104% 38.5% 39.2%
2021 27.1% 108.6% 38.6% 42.2%
2020 30.6% 129.6% 38.8% 42.9%
2019 22.2% 101.6% 35.1% 39.8%
2018 25% 107.2% 29.4% 40%
2017 28% 134.6% 32.7% 46.4%
2016 28.6% 127.1% 31.2% 37.6%
2015 29.2% 122.5% 38.1% 32.2%
2014 27.4% 115.1% 20.5% 17.8%
2013 29.1% 111.7% 20.1% 16.4%
2012 28.9% 103.5% 22.1% 17.4%
2011 26.5% 94.4% 22.7% 19.3%
2010 28% 90.3% 25.6% 18.3%
2009 27.8% 83.5% 24.9% 19.1%
2008 27.1% 69.8% 25.1% 19.2%
2007 26.1% 64.9% 20.3% 17.6%
2006 25% 64.1% 18.2% 20%
2005 26.4% 62.7% 16.5% 23.8%
2004 26.2% 61% 16.7% 27.5%
2003 27.7% 61.8% 17% 34.6%
2002 29.1% 62% 20.2% 35.1%
2001 20.7% 59% 20.2% 33.5%
2000 19.7% 53.6% 23% 32.6%
1999 18.5% 47% 21.6% 27.7%
1998 17.8% 47.2% 25.2% 25.4%
1997 19.6% 52% 20.1% 20.7%
1996 19.1% 52.3% 22.1% 20.8%
1995 17.3% 52% 25.3% 21.8%
1994 15.9% 51.4% 22% 19.5%
1993 - - 23.7% 18.3%
1992 - - 28.8% 19%
1991 - - 30% 14.4%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1991–2025, retrieved 2026-07-08).

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

In 2025, Barbados' government spending was $2.16B, accounting for 27% of its GDP, while Vanuatu spent $480M, or 35.5% of GDP.

Debt-to-GDP ratio is 94.2% in Barbados and 40.9% in Vanuatu, ranking 28/185 and 131/185, respectively.

Government deficit by year

Deficit/surplus
Barbados

Vanuatu
1x
Year Deficit/surplus, % of GDP
Barbados Vanuatu
2025 -0.31% -3.88%
2024 -0.84% -2.46%
2023 -1.57% -0.78%
2022 -1.74% -5.96%
2021 -3.88% 2.07%
2020 -4.19% -1.74%
2019 2.86% 2.48%
2018 -0.32% 5.53%
2017 -3.64% -1.06%
2016 -4.55% -0.64%
2015 -7.58% -8.13%
2014 -6.2% 1.26%
2013 -8.46% -0.22%
2012 -6.69% -1.54%
2011 -3.47% -1.98%
2010 -7.1% -2.38%
2009 -6.19% -0.76%
2008 -3.94% -0.04%
2007 -4.08% 0.25%
2006 -3.13% 0.44%
2005 -2.78% 1.68%
2004 -2.73% 0.72%
2003 -2.86% -1.22%
2002 -4.96% -3.29%
2001 3.83% -3.01%
2000 4.68% -5.67%
1999 5.06% -0.5%
1998 5.63% -6.01%
1997 5.15% -0.46%
1996 3.5% -1.61%
1995 5.79% -2.34%
1994 6.28% -1.35%
1993 - -3.32%
1992 - -2.1%
1991 - -2.54%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1991–2025, retrieved 2026-07-08).

GeoRank.org/economy/barbados/vanuatu | 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 Vanuatu's deficit of $52.6M, or 3.88% of GDP.

Over the past 32 years, Barbados recorded a fiscal deficit in 23 of those years, while Vanuatu ran a deficit in 24 years. On average, Barbados posted an annual deficit equal to 1.51% of GDP, compared to deficit of 1.33% of GDP for Vanuatu.

Inflation comparison by year

Inflation
Barbados

Vanuatu
1x
Year Consumer prices inflation
Barbados Vanuatu
2025 0.85% 0.66%
2024 1.45% 1.14%
2023 3.19% 11.2%
2022 - 6.68%
2021 - 2.34%
2020 - 5.33%
2019 1.68% 2.76%
2018 3.11% 2.33%
2017 4.66% 3.08%
2016 1.28% 0.84%
2015 -1.11% 2.48%
2014 1.77% 0.8%
2013 1.81% 1.46%
2012 4.53% 1.35%
2011 9.43% 0.87%
2010 5.82% 2.76%
2009 3.64% 4.3%
2008 8.11% 4.84%
2007 4.03% 3.94%
2006 7.31% 2.04%
2005 6.08% 1.2%
2004 1.39% 1.42%
2003 1.62% 3.02%
2002 0.13% 1.96%
2001 2.58% 3.58%
2000 2.44% 2.54%
1999 1.56% 2%
1998 -1.27% 3.28%
1997 7.71% 2.83%

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

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

Over the past 29 years, Barbados has recorded an average annual inflation rate of 3.22%, compared with 2.86% in Vanuatu. In 2025, inflation was 0.85% in Barbados and 0.66% in Vanuatu.

Top exports between countries

Barbados
Export category Export value
Precious metals & jewellery $12K
Vanuatu
Export category Export value

Balance of trade

Barbados Vanuatu
Current account balance
-$296M
2017
-$127M
2022
Current account balance ranking
96/190
2017
83/190
2022
Current account balance, % of GDP
-5.07%
2017
-11.1%
2022
Goods imports
$1.53B
2017
$350M
2022
Goods exports
$705M
2017
$73.6M
2022
Service imports
$687M
2017
$230M
2022
Service exports
$1.52B
2017
$78.5M
2022
Imports of goods and services, % of GDP n/a
48%
2024
Exports of goods and services, % of GDP
14.5%
2026
25.3%
2024

Economic freedom indices

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

Barbados Vanuatu
Economic freedom 70.4 61.1
Economic freedom ranking 34/197 92/197
Property rights 76.4 62.1
Government integrity 71.3 48.3
Judicial effectiveness 87.3 67.9
Tax burden 83.2 96.9
Government spending 74.5 48.1
Fiscal health 76.5 78.8
Business freedom 72.3 50.3
Labor freedom 54.3 41
Monetary freedom 80.8 72.1
Trade freedom 48.2 62
Investment freedom 60 65
Financial freedom 60 40

Economic freedom comparison by year

Barbados
Vanuatu
1x
Year Economic freedom index
Barbados Vanuatu
2026 70.4 61.1
2025 68.9 61.8
2024 66.8 62.2
2023 69.8 62.1
2022 71.3 62.9
2021 65 60.5
2020 61.4 60.7
2019 64.7 56.4
2018 57 69.5
2017 54.5 67.4
2016 68.3 60.8
2015 67.9 61.1
2014 68.3 59.5
2013 69.3 56.6
2012 69 56.6
2011 68.5 56.7
2010 68.3 56.4
2009 71.5 58.4
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/vanuatu | CC BY

The Economic Freedom Index for Barbados is 70.4, ranking 34/197, compared to 61.1 for Vanuatu, ranking 92/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Barbados Vanuatu
Services, % of GDP
75.8%
2024
56.8%
2024
Industry, % of GDP
12.2%
2024
10.1%
2024
Agriculture, forestry, and fishing, % of GDP
1.55%
2024
26.6%
2024
GNI, Atlas method
$7.65B
2025
$1.48B
2025
GNI per capita, PPP
$24,840
2025
$4,970
2025
Total reserves including gold
$1.65B
2024
$615M
2024
Total reserves ranking
131/177
2024
152/177
2024
Net foreign direct investment
-$208M
2017
-$9.21M
2022
Net inflows of foreign direct investment
$303M
2024
$28.9M
2024
Net outflows of foreign direct investment
$18.6M
2024
$2.79M
2024
Servicing debt to the IMF, % of GNI n/a
1.88%
2024
Poverty at national poverty lines
25.7%
2016
15.9%
2020
Gross capital formation, % of GDP n/a
26.1%
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/vanuatu | 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 (1991–2025, 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. United Nations | World Population Prospects (2026, retrieved 2026-07-08)
  6. LivingCost (2026, retrieved 2026-07-08)
  7. TradeMap (2023, 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.

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.