Key Market Indicators
Barbados' electrical equipment import market is projected to decline to approximately $71 million by 2028, down from $81 million in 2023. This represents an annual decrease of 2.1% based on the compound annual growth rate (CAGR). Historical data indicates that the demand for electrical equipment in Barbados has been decreasing at an annual rate of 1.2% since 2002. On the export front, Barbadian electrical equipment shipments are expected to drop to around $7 million by 2028, from $10 million in 2023. This marks a steeper annual decline of 4.5% in the CAGR. Looking back, the supply of electrical equipment from Barbados has been falling at an annual rate of 2.5% since 2002.
