|Passenger & cargo ships|
Barbados is a sovereign island nation in the Lesser Antilles, in the Americas. It is 34 kilometers (21 mi) long and up to 23 kilometers (14 mi) in width, covering a range of 432 square kilometers (167 sq. mi). It is arranged in the western zone of the North Atlantic and 100 kilometers (62 mi) east of the Windward Islands and the Caribbean Sea; in that, it is around 168 kilometers (104 mi) east of the islands of Saint Vincent and the Grenadines and 400 kilometers (250 mi) north-east of Trinidad and Tobago. Barbados is outside of the main Atlantic typhoon belt. Its capital is Bridgetown.
The universal business and budgetary administrations segment keep on being an imperative supporter of the economy of Barbados. Amid monetary year 2010/2011, the segment contributed roughly Bds$186 million in corporate duties – just about 60% of the aggregate corporate expense consumption. Toward the finish of December 2010, there were 45 seaward banks, 242 hostage insurance agencies, 3,065 global business organizations, and 408 universal social orders with limited obligation. The budgetary division is likewise under risk of assents from the EU and the Organization for Economic Cooperation and Development (OECD), both of which have communicated worries about illegal tax avoidance, tax avoidance, and other money related mistakes in Caribbean seaward focuses. Starting at 2008, Barbados has a GDP (PPP) of $5.466 billion, a GDP (official swapping scale) of $3.777 billion, a GDP genuine development rate of 1.5%, and a for every capita PPP of $19,300. The GDP is made out of the accompanying areas: horticulture 6%, industry 16%, and administrations 78% (2000 EST.). Starting at 2001 it had a working power of 128,500, of which 10% were in horticulture, 15% in industry, and 75% in administrations (1996 EST.). The joblessness rate in 2003 was 10.7%, and the swelling rate in 2007 was 5.5%. The Barbadian government had evaluated incomes of $847 million (counting gifts) in 2000, and consumptions of $886 million. The modern creation development rate was - 3.2%.
Seaward fund and informatics are vital remote trade workers, and there is additionally a light assembling area. The administration proceeds with its endeavors to lessen the unsatisfactorily high joblessness rate which it met in the 1990s, empower coordinate outside venture, and privatize remaining state-claimed undertakings. The fundamental components in charge of the change in monetary movement incorporate an extension in the number of traveler landings, an expansion in assembling, and an expansion in sugar creation. As of late, seaward managing an account and budgetary administrations additionally have turned into an essential wellspring of remote trade and monetary development. Monetary development has prompted net increments in work in the tourism segment, and also in development and different administrations sub-areas of the economy. The general population benefit remains Barbados' biggest single business. Add up to work constrain has expanded from 126,000 out of 1993 to 140,000 people in 2000, and joblessness has dropped altogether from more than 20% in the mid-1990s to 9.3% toward the finish of 2000.
|Agriculture||Sugarcane, vegetables & cotton.|
|Manufacture||Electronics, hard wood furniture, garments & chemicals.|
|Services (Including financial)||83% (2013 estimate)|
|CIBC First Caribbean International Bank||Banking|
|Sagicor Financial Corporation||Insurance|
|Barbados National Oil Company Ltd.||Oil & Gas|
|Barbados Light & Power Company||Utility|
|Passenger & cargo ships|
The Barbados Stock Exchange or BSE is Barbados' fundamental stock trade. Its central command is in the capital-city Bridgetown. The body was built up in 1987 by the Parliament of Barbados as a statutory body under CAP. 318A, Section 44 of the Securities Exchange Act (1982). Under this unique sanction, it was constituted as the Securities Exchange of Barbados (SEB) and stayed known in that capacity until August 2, 2001, when Parliament revoked and supplanted the earlier demonstration with a refreshed contract under The Securities Act 2001– 3. Since July 4, 2001, the BSE has worked under a completely electronic exchanging using the Order directing strategy. The electronic framework succeeds the manual framework, which contained an open closeout objection technique for exchanging. Despite the fact that it was given impact by Parliament, the BSE capacities as a not-revenue driven association which is exclusive (by its Members). Expert is vested in a Board of Directors, which is led by the General Manager.
The Barbados Stock Exchange is among the four noteworthy provincial Caribbean stock trades. The other three being the trades of Jamaica, the Eastern Caribbean, and Trinidad and Tobago. The BSE is the third biggest stock trade in the Caribbean district. The BSE alongside authorities from Jamaica and Trinidad and Tobago are attempting to coordinate these stock trades into a solitary unit known as the Caribbean Exchange Network (CXN) The Trinidad and Tobago trade has mooted the foundation of some type of relationship with the U.S. or, then again Canadian based stock trades going forward. At introduce, authorities at the stock trade are examining the likelihood of enlarging the neighborhood trade with an International Securities Market (ISM) wander. The BSE is one of twenty-seven journalist individuals from the World Federation of Exchanges (WFE).
Barbados is yet another setback of the monetary emergency confronting the Caribbean, with the Democratic Labor Party (DLP) government indirectly reporting last December that it is " sending home" 3000 open area specialists – around 10% of the common administration work compel. Actually, the situation inundating Barbados addresses the profoundly established auxiliary issues unavoidably confronting nations which import and devour significantly more than they deliver and fare, and which do not have a focused beneficial base. Nations like Barbados do not have the way to determine this significant issue.
The worldwide monetary emergency is moderating the inflows of remote trade into Barbados and therefore the island recorded the financial development of short of what one for each penny, as per figures discharged today by the Central Bank of Barbados (CBB). It said the worldwide condition keeps on compelling prospects for a lively financial recuperation, as the poor monetary exhibitions of the United Kingdom and the United States keep on depressing the interest for Barbados' tourism administrations. In any case, unobtrusive increases are normal from the progressive change long of-remain. Private interests in tourism-related undertakings and corporate building activities are expected to additionally extend development yield for the rest of 2012.
It said that private venture ought to fortify, upheld by government's drives, establishing the framework for future development. The CBB said that Barbados' outside trade holds toward the finish of June remained at BDS$1.3 billion (US$650 million), a decrease of BDS$63 million (US$31.5 million) since December 2011. It noted additionally that the retreat in the mechanical world has been aggravated by the European monetary and money related emergency, additionally containing remote interest in rising economies like Barbados. Guest numbers from Canada were up three for every penny except entries from the United Kingdom and the United States markets fell by 10 and four for every penny separately. Journey landings expanded by 2.5 for every penny, despite the fact that 21 fewer voyage calls were made. There was soundness in the length-of-remain of guests from the US, UK and Canadian markets, with slight development in the length-of-remain of sightseers from Trinidad and Tobago and other CARICOM nations," the CBB said. Expansion seems to have decelerated marginally, with the anticipated year normal rate to June at around 8.6 for every penny, contrasted with 9.5 for each penny in December. Expansion in the costs of sustenance and fuel seems to have decreased, since the last quarter of 2011. Notwithstanding the activity misfortune in tourism, there was additionally some conservation in the assembling segment and non-sugar farming, bringing about a joblessness rate evaluated at 11.8 for every penny toward the finish of March 2012, contrasted and a normal of 11.2 for each penny for all of 2011.
Possessed by Kalingo individuals since the thirteenth century, and before that by different Amerindians, Barbados was gone to by Spanish guides in the late fifteenth century and asserted for the Spanish Crown. It initially shows up on a Spanish guide from 1511. The Portuguese went to the island in 1536, yet they exited it unclaimed, with their exclusive leftovers being a presentation of wild hoards for a decent supply of meat at whatever point the island was gone too. An English ship, the Olive Blossom, touched base in Barbados in 1625; its men claimed it for the sake of King James I. In 1627, the primary lasting pioneers landed from England, and it turned into an English and later British state.
In 1966, Barbados turned into a free state and Commonwealth domain with the British Monarch (by and by Queen Elizabeth II) as innate head of state. Because of their frontier history and association with the United Kingdom, even after freedom, it is here and there alluded to as meager England. It has a populace of 280,121 individuals, generally of African plummet. In spite of being delegated an Atlantic island, Barbados is thought to be a piece of the Caribbean, where it is positioned as the main visitor goal. In 2014, Barbados positioned second in the Americans (after Canada) and seventeenth comprehensively (after Belgium and Japan) on Transparency International's Corruption Perception Index. Amerindian settlement of Barbados dates to about the fourth to seventh hundreds of years AD, by a gathering known as the Saladoid-Barrancoid. In the thirteenth century, the Kalinago touched base from South America.
The Spanish and Portuguese quickly asserted Barbados from the late sixteenth to the seventeenth hundreds of years. The Arawaks are accepted to have fled to neighboring islands. Aside from potentially dislodging the Caribs, the Spanish and Portuguese had little effect and left the island uninhabited. A few Arawaks moved from British Guiana (advanced Guyana) in the nineteenth century and keep on living in Barbados.
From the entry of the main English pioneers in 1627– 1628 until autonomy in 1966, Barbados was under continuous English and later British administration and was the main Caribbean island that did not change hands amid the pilgrim time frame. In the early years, most of the oppressed populace was white and male, with African slaves giving little of the workforce. The Irish were gathered together by the English and sold into bondage in Barbados and other Caribbean islands. These Irish slaves, numbering more than 100,000 in Cromwell's opportunity, were called "Redlegs" since they consumed and rankled so severely in the tropical sun. Development of tobacco, cotton, ginger, and indigo was taken care of essentially by European contracted work until the point that the begin of the sugar stick industry in the 1640s. As Barbados' economy developed, Barbados built up an expansive measure of neighborhood independence through its establishment as a restrictive province. Its House of Assembly started meeting in 1639. Among the island's soonest driving figures was the Anglo-Dutch Sir William Courten. The 1780 tropical storm executed more than 4,000 individuals on Barbados. In 1854, a cholera plague executed more than 20,000 occupants. At liberation in 1833, the measure of the slave populace was roughly 83,000. In the vicinity of 1946 and 1980, Barbados' rate of populace development was decreased by 33% in light of resettlement to Britain.
The dollar has been the money of Barbados since 1935. The present dollar has the ISO 4217 code BBD and is typically condensed with the dollar sign "$" or, then again, "Bds$" to recognize it from other dollar-named monetary standards. It is isolated into 100 pennies. On 22 October 2010, it was accounted for that the global rating organization Standard and Poor's (S&P) evaluated the money of Barbados as "BBB-/A-3". The historical backdrop of money in the British province of Barbados nearly takes after that of British Eastern Caribbean domains by and large. Despite the fact that Queen Anne's declaration of 1704 conveyed the highest quality level toward the West Indies, silver bits of eight (Spanish dollars and later Mexican dollars) kept on shaping a noteworthy bit of the circling cash directly into the last 50% of the nineteenth century.
England embraced the highest quality level in 1821 and a magnificent request in-board of 1838 brought about Barbados formally receiving the British sterling coinage in the year 1848. In any case, in spite of the course of British coins in Barbados the silver bits of eight kept on circling close by them and the private part kept on utilizing dollar represents figuring. The universal silver emergency of 1873 flagged the finish of the silver dollar period in the West Indies and silver dollars were demonetized in Barbados in 1879. This left a situation, in which the British coinage flowed, being figured in dollar accounts at a programmed transformation rate of 1 dollar = 4 shillings 2 pence. The principal cash designated in dollars to be issued in Barbados was as private banknotes presented in 1882. No subdivisions of the dollar were issued and these notes circled close by sterling, together with 1 pound notes issued by the administration in 1917. From 1920, a portion of the private banknotes additionally conveyed a section in sterling, with 1 dollar = 4 shillings 2 pence.
From 1949, with the presentation of the British West Indies dollar, the money of Barbados turned out to be authoritatively tied with those of the British Eastern Caribbean regions all in all. In the vicinity of 1938 and 1949, the Barbados government provided paper cash named in dollars. The last private bank issues were made in 1949. The British sterling coinage was in the long run supplanted by another decimal coinage in 1955, with the new penny being equivalent to one portion of the old penny. In 1965, the East Caribbean dollar supplanted the British West Indies dollar in Barbados. The present dollar was made after the foundation of the Central Bank of Barbados (CBB), which was established by an Act of parliament in May 1972. The Barbados dollar supplanted the East Caribbean dollar at standard in 1973. Since 5 July 1975, the Barbados dollar has been pegged to the US dollar at US$1 = Bds$2. The vast majority in Barbados will acknowledge USD at the settled rate.
In 1973, the principal year of Barbados having its own particular coinage, coins were presented in sections of 1¢, 5¢, 10¢, 25¢, and $1. From 1973 through 1991, the 1¢ was struck in bronze. From 1992, copper-plated zinc has been utilized. The 5¢ coin is struck in metal, while the most noteworthy 3 categories are struck in cupronickel. The $1 coin is a 7-sided equilateral-bended piece. A flying fish is enhanced on one side, with the Barbadian ensign on the invert. The Barbadian dollar coins are presently stamped in a plated-steel design Chet first issued in 2007. Huge numbers of the coins available for use have been struck at the Royal Canadian Mint. The invert of the 5 penny coin portrays the South Point Lighthouse, the most seasoned beacon in Barbados.
In 1882, the Colonial Bank presented notes for 5 dollars. In 1920, 20 and 100 dollar notes were likewise issued by this bank. In 1922, Barclays Bank, having assumed control over the Colonial Bank, started issuing 5, 20 and 100 dollar notes. The higher groups stopped creation in 1940 yet the 5 dollar kept on being issued until 1949. The Royal Bank of Canada presented notes in 1909, in groups of 5, 20 and 100 dollars. From 1920, these notes likewise bore the category in sterling, with 5 dollars = 1 pound 10 pence, 20 dollars = 4 pounds 3 shillings 4 pence and 100 dollars = 20 pounds 16 shillings 8 pence. Notes were issued until 1938. The Canadian Bank of Commerce issued notes in the vicinity of 1922 and 1940, additionally in divisions of 5, 20 and 100 dollars. In the vicinity of 1938 and 1949, the government provided notes in groups of 1, 2, 5, 20 and 100 dollars. All drag the picture of King George VI. On 3 December 1973, the Central Bank of Barbados presented notes in categories of 1, 5, 10, 20 and 100 dollars. The 1 dollar note was not issued once more, with 2 dollar notes presented in 1980, trailed by 50 dollars in 1989.
|National Song||"National Anthem of Barbados"|
|Currency||Barbadian dollar (BBD)|
|GDP / GDP Rank||4.794 Billion USD|
|GDP Growth Rate||0.5 Percent|
|GDP Per Captial||$17100.165 (PPP)|
< 1.0% Muslims
< 1.0% Hindus
< 1.0% Buddhists
< 1.0% Jews
1.4% Other Religions
Asian And Mixed 6%
Queen – Elizabeth II[γ]
Governor-General – Dame Sandra Mason
|Website||Go to the web|
|Public Debt||107.886 Percent|
|Unemployment Rate||11.386 Percent|
|Labor Force (Occupation)||-|