Barbados - Balance of payments

The consistently adverse trade balance is substantially alleviated by foreign currency remittances from various emigrants and by tourist expenditures. In 2000, net public and private sector capital and financial inflows were strong, and the capital and financial account surplus was the largest on record. The current account deficit reflects the country's narrow resource base and low production capability.

The US Central Intelligence Agency (CIA) reports that in 2000 the purchasing power parity of Barbados's exports was $272 million while imports totaled $1.16 billion resulting in a trade deficit of $888 million.

The International Monetary Fund (IMF) reports that in 2000 Barbados had exports of goods totaling $286 million and imports totaling $1.03 billion. The services credit totaled $1.09 billion and debit $487 million. The following table summarizes Barbados's balance of payments as reported by the IMF for 2000 in millions of US dollars.


Current Account -146
Balance on goods -744
Balance on services 603
Balance on income -82
Current transfers 78
Capital Account -2
Financial Account 303
Direct investment abroad -1
Direct investment in Barbados 19
Portfolio investment assets -12
Portfolio investment liabilities 100
Other investment assets 53
Other investment liabilities 144
Net Errors and Omissions 22
Reserves and Related Items -178
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