Key Market Indicators
Barbadian lighting imports are projected to decrease over the next five years, with figures expected to fall from approximately $3.4 million in 2023 to around $3.1 million by 2028. This decline marks an annual compound growth rate (CAGR) of 1.6% year over year. Despite this downward trend, the demand for lighting in Barbados has risen by 2% annually since 2002. In contrast, Barbadian lighting exports are forecasted for significant growth. By 2028, exports are expected to climb to roughly $10.6 million, up from approximately $8.1 million in 2023. This increase reflects an impressive 4.2% annual average growth rate. Historically, since 2002, Barbados has seen its lighting supply grow at an annual rate of 3.1%.
