In 2023, Barbados's GDP composition by sector highlights the dominance of services at 47.3%, followed by wholesale, retail trade, restaurants, and hotels at 24.38%. Transport, storage, and communication accounted for 11.28%, with mining, manufacturing, utilities at 9.05%, construction at 6.42%, and agriculture, hunting, forestry, and fishing at a mere 1.57%. The service sector has exhibited resilience, underpinned by the tourism rebound.
Future trends to watch for include:
- A continued focus on diversifying the economy beyond tourism.
- The potential for growth in communication and technology services driven by digital transformation.
- Challenges in agricultural output, necessitating innovation and investment.
Top countries in GDP Composition by Sector
| # | 6 Countries | Percent | Last Year | |
|---|---|---|---|---|
| 1 | 1 Services | 47.3 | 2016 | |
| 2 | 2 Wholesale, retail trade, restaurants and hotels | 24.38 | 2016 | |
| 3 | 3 Transport, storage and communication | 11.28 | 2016 | |
| 4 | 4 Mining, Manufacturing, Utilities | 9.05 | 2016 | |
| 5 | 5 Construction | 6.42 | 2016 | |
| 6 | 6 Agriculture, hunting, forestry, fishing | 1.57 | 2016 |
