Exporting to Barbados

Barbados is an eastern Caribbean island located near St. Lucia and St. Grenadines. It is popular with foreign tourists. In the year ended August 2019, the total UK exports to Barbados amounted to £199 million (ONS, 2019).

Increase in exports

In the year to March 2019, the total UK exports to Barbados amounted to £541 million, an increase of 400.9%, compared to the previous year (ONS, 2019). This highlights a growing demand for exports that UK exporters could benefit from.

Demand for UK goods and services

In the year ended March 2019, the top goods exported from the UK to Barbados were manufactures, road vehicles (excluding cars) and railway equipment (ONS, 2019). Barbados also imported significant levels of pharmaceutical products, beverages and mineral fuels or oils from the rest of the world (ITC Trade Map, 2019). Therefore, if you have a business selling these goods, then Barbados could be a good market for you.

Ease of doing business

128th

out of 190 countries (World Bank, 2018)

Currency

Barbadian dollar

Business language

English

GDP per capita

$17,758

UK is $41,030 (IMF, 2019)

Economic growth

- 0.6%

(IMF, 2019)

Time zone

GMT -4

Next steps

DIT can advise you on doing business abroad, and help put you in touch with other people who can help such as lawyers and distributors.