• GDP: US$2.97 billion (2007).
• Main exports: Cotton, flowers, plants, rum, sugar, molasses and oil.
• Main imports: Consumer goods, machinery, food, chemicals and construction materials.
• Main trade partners: UK, USA, Trinidad & Tobago, St Lucia and Jamaica.

In 2006, the Barbadian economy experienced unprecedented growth, achieving more than 3% for the seventh consecutive quarter. According to a 2008 assessment by the Index of Economic Freedom, Barbados’s economy is 71.3% free – the 21st most free economy in the world. Improved investment freedom places it high above the regional average.

Traditionally relying on sugarcane and other agricultural exports, Barbados has successfully diversified its economic activities. Tourism now represents the largest employer on the island. Cotton, flowers and plants are being developed as export products. The island’s other important industry is oil. Exploration efforts have intensified since the mid 1990s. Today, two-thirds of offshore output is exported, with the remainder assigned for domestic consumption. Barbados has also developed an ‘offshore’ financial industry that now accounts for 15% of GDP.

Barbados receives some overseas aid from British and US sources and is a member of the Caribbean economic community (CARICOM) which has boosted regional trade. Good transport and communications infrastructure is poised to assist future economic development. Barbados’s declared goal is to become the world's smallest developed nation.

Lightweight suits are recommended. European courtesies should be observed, such as presenting business cards.
Office hours: Mon-Fri 0800-1600.

Barbados is keen to position itself as the Caribbean’s foremost convention destination and offers a number of conference facilities for incentive and business travel groups. All are centred on Bridgetown where meeting space is fully air conditioned and equipped to handle seminars, trade shows and exhibitions, from 15 to 2,500 delegates.

Barbados Chamber of Commerce and Industry
First Floor, Nemwil House, Collymore Rock, St Michael, Barbados
Tel: 426 2056 or 0747.
Website: www.bdscham.com

Barbados Investment & Development Corporation
PO Box 1250, Pelican House, Princess Alice Highway, Bridgetown, Barbados
Tel: 427 5350.
Website: www.bidc.com

Barbados Conference Services Ltd
Sherbourne Conference Centre, Two Mile Hill, St Michael, Barbados
Tel: 467 8200.
Website: www.bcslbarbados.com