Barbados 2005

North America

Yearbook 2005

Barbados. As part of its quest to make Barbados a republic, Prime Minister Owen Arthur announced in February that a referendum was planned on the issue before the end of the year. However, by the end of the year, no date for the referendum had been set. In the present proposal for a transition to a republic, a president is to assume the ceremonial duties of the current Governor-General while the government retains executive power. According to countryaah, Bridgetown is the capital and one of the major cities within the country of Barbados. Barbados became independent from the colonial power of Britain in 1966, but has retained the British monarch as head of state. This is represented on the island by a general governor.

Economy

Inflation rate 4.40%
Unemployment rate 10.1%
Gross domestic product (GDP) $ 5,218,000,000
GDP growth rate -0.20%
GDP per capita $ 18,600
GDP by sector
Agriculture 1.50%
Industry 9.80%
Service 88.70%
State budget
Revenue 847 million
Expenditure 886 million
Proportion of the population below the national poverty line
Distribution of household income
Top 10% k. A.
Lower 10% k. A.
Industrial production growth rate -1.00%
Investment volume
National debt 157.30% of GDP
Foreign exchange reserves $ 407,600,000
Tourism 2014
Number of visitors 521,000
Revenue $ 992,000,000

 

In March, the country’s only prison was burned and severely vandalized during a prison riot. The prison then had to be evacuated.