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Government Finance of Barbados

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Overview Economy Population Trade Government Finance Society Environment

Tax Revenue Composition

10.6% 23.3% 15.2% 43.4%
  • Personal income taxes: 10.6%
  • Corporate income taxes: 23.3%
  • Social security contributions: 15.2%
  • Property taxes: 5.5%
  • Goods and services taxes: 43.4%
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Personal income taxes
10.6%
Corporate income taxes
23.3%
Social security contributions
15.2%
Property taxes
5.5%
Goods and services taxes
43.4%

Source: OECD Global Revenue Statistics Database, 2024.

Government Debt

Government Gross Debt (% of GDP) 89.5% #26 / 184 2026
Government Gross Debt (Local currency - BBD) 15.4B - 2026
Government Net Debt (% of GDP) 88.8% #8 / 86 2026
Government Net Debt (Local currency - BBD) 15.3B - 2026

Fiscal Balance

Fiscal Balance (% of GDP) -0.1% #29 / 189 2026
Fiscal Balance (Local currency - BBD) -10M - 2026
Primary Fiscal Balance (% of GDP) 4.1% #7 / 182 2026
Primary Fiscal Balance (Local currency - BBD) 709M - 2026

Revenue and Spending

Government Revenue (% of GDP) 26.1% #100 / 189 2026
Government Revenue (Local currency - BBD) 4.49B - 2026
Government Spending (% of GDP) 26.2% #115 / 189 2026
Government Spending (Local currency - BBD) 4.5B - 2026

International Reserves

Total Reserves (USD) 1.65B #124 / 163 2024

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