In 2021, Barbados exported a total of $357M, making it the number 171 exporter in the world. During the last five reported years the exports of Barbados have changed by -$208M from $565M in 2016 to $357M in 2021.
In 2016, Barbados exported $1.41B worth of services. The top services exported by Barbados in 2016 were Personal travel ($955M), Other business services ($241M), Business travel ($82.8M), Transportation ($66M), and Government services, n.i.e. ($20.5M).
The top services imported by Barbados in 2016 were Other business services ($349M), Transportation ($107M), Computer and information services ($57.1M), Personal travel ($40.9M), and Financial services ($37.5M).
The top export opportunities for Barbados according to the relatedness index, were Scrap Lead (0.17), Soap (0.16), Collector's Items (0.16), Other Vegetables (0.16), and Refined Petroleum (0.16). Relatedness measures the distance between a country's current exports and each product. The barchart show only products that Barbados is not specialized in.
The product space is a network connecting products that are likely to be co-exported. The product space can be used to predict future exports, since countries are more likely to start exporting products that are related to current exports. Relatedness measures the distance between a product, and all of the products a country currently specializes in.
This network shows the products most related to the production structure of Barbados. These are products that tend to be co-exported with the products that Barbados exports. Higher relatedness values indicate greater knowledge, which predicts a greater probability of exporting that product in the future.
The Complexity-Relatedness diagram compares the risk vs strategic value of a country's potential export oppotunities.
Relatedness is predictive of the probability that a country increases its exports in a product. Complexity, is associated with higher levels of income, economic growth, less income inequality, and lower greenhouse emissions.