Remittance inflows to GDP in Barbados
Barbados: Remittance inflows to GDP was 2.3% in 2020. ▲ Rising
Remittance inflows to GDP in Barbados, 1974–2020
Source: World Development Indicators (WDI), World Bank. Measured in %.
Analysis
In 2020, remittance inflows to gdp in Barbados stood at 2.3%.
That represents a change of up 13.1% on the previous year and up 27.8% over ten years.
Over the whole period, remittance inflows to gdp in Barbados peaked at 4.3% in 2001 and was at its lowest, 0.6%, in 1985.
That places Barbados 98th out of 195 countries with data for 2020, putting it in the middle of the range.
The long-run direction has been consistently rising across the 47 years of available data.
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 2.2% | 2.0% | 2.6% | 6 |
| 1980s | 1.0% | 0.6% | 1.8% | 10 |
| 1990s | 2.7% | 1.9% | 3.3% | 10 |
| 2000s | 3.2% | 2.1% | 4.3% | 10 |
| 2010s | 3.0% | 1.8% | 4.2% | 10 |
| 2020s | 2.3% | 2.3% | 2.3% | 1 |
Countries ranked near Barbados
More financial sector data for Barbados
- Domestic credit to private sector by banks 59.6% (2023)
- Total reserves in months of imports 1.26 (2017)
- Net domestic credit 12.13 billion current LCU (2023)
- Net foreign assets 2.26 billion current LCU (2023)
- Monetary Sector credit to private sector 59.7% (2023)
- Broad money 97.5% (2023)
- Claims on central government, etc. 21.0% (2023)
- Domestic credit to private sector 59.7% (2023)
- Official exchange rate 2 LCU per US$, period average (2025)
- Net migration -87 (2025)
Frequently asked questions
- What is remittance inflows to gdp in Barbados?
- Remittance inflows to gdp in Barbados was 2.3% in 2020, according to World Development Indicators (WDI), World Bank.
- What is the highest remittance inflows to gdp recorded in Barbados?
- The highest recorded value was 4.3% in 2001.
- What is the lowest remittance inflows to gdp recorded in Barbados?
- The lowest recorded value was 0.6% in 1985.
- How does Barbados rank for remittance inflows to gdp?
- Barbados ranks 98th out of 195 countries with data for 2020.
- Is remittance inflows to gdp rising or falling in Barbados?
- Over the last ten years it is up 27.8%. The long-run trend across the full record is rising.
- Where does this Barbados data come from?
- The figures come from World Development Indicators (WDI), World Bank, published as part of Remittance inflows to GDP (%). Statizoid updates them automatically from the source API.
Download this data
CSV · JSON — 47 observations, free to reuse under CC BY 4.0 (World Bank Open Data).
About this data
Workers' remittances and compensation of employees comprise current transfers by migrant workers and wages and salaries earned by nonresident workers. Data are the sum of three items defined in the fifth edition of the IMF's Balance of Payments Manual: workers' remittances, compensation of employees, and migrants' transfers. Remittances are classified as current private transfers from migrant workers resident in the host country for more than a year, irrespective of their immigration status, to recipients in their country of origin. Migrants' transfers are defined as the net worth of migrants who are expected to remain in the host country for more than one year that is transferred from one country to another at the time of migration. Compensation of employees is the income of migrants who have lived in the host country for less than a year.