Tax revenue (% of GDP) in Barbados
Barbados: Tax revenue (% of GDP) was 23.4% in 2016. ▼ Falling
Tax revenue in Barbados, 2003–2016
Source: Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF). Measured in % of GDP.
Analysis
The most recent figure for tax revenue in Barbados is 23.4%, measured in 2016.
The figure is up 11.3% on the previous year and down 7.5% over ten years.
Over the whole period, tax revenue in Barbados peaked at 26.7% in 2005 and was at its lowest, 19.1%, in 2013.
Barbados ranks 26th of 157 countries on this measure, in the top quarter.
The long-run direction has been consistently falling across the 14 years of available data.
Tax revenue (% of GDP) in Barbados, year by year
| Year | % of GDP | Change |
|---|---|---|
| 2003 | 25.2% | — |
| 2004 | 25.8% | +2.1% |
| 2005 | 26.7% | +3.7% |
| 2006 | 25.3% | -5.4% |
| 2007 | 25.9% | +2.6% |
| 2008 | 25.4% | -2.1% |
| 2009 | 24.7% | -2.7% |
| 2010 | 20.6% | -16.5% |
| 2011 | 21.7% | +5.4% |
| 2012 | 20.6% | -5.4% |
| 2013 | 19.1% | -7.3% |
| 2014 | 19.4% | +1.9% |
| 2015 | 21.0% | +8.1% |
| 2016 | 23.4% | +11.3% |
Barbados compared with similar countries
- Barbados's 23.4% is above the median for high income countries, which is 20.7%, 1.1× the median. (57 countries reporting)
- Barbados's 23.4% is above the median for Latin America & Caribbean, which is 15.9%, 1.5× the median. (25 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2000s | 25.6% | 24.7% | 26.7% | 7 |
| 2010s | 20.8% | 19.1% | 23.4% | 7 |
Countries ranked near Barbados
More public sector data for Barbados
- Democracy, annual growth rate 0 % change on previous year (2025)
- Chief executive of the government is elected, annual growth rate 0 % change on previous year (2025)
- Elected parliament, annual growth rate 0 % change on previous year (2025)
- Men's universal right to vote, annual growth rate 0 % change on previous year (2025)
- Universal right to vote, annual growth rate 0 % change on previous year (2025)
- Universal right to vote in practice, annual growth rate 0 % change on previous year (2025)
- Arms imports 10.00 million SIPRI trend indicator values (2009)
- Arms imports (SIPRI trend indicator values), per capita 36.48 SIPRI trend indicator values per person (2009)
- Arms imports (SIPRI trend indicator values), per unit of GDP 0.0022 SIPRI trend indicator values per US$ of GDP (2009)
- Arms imports (SIPRI trend indicator values), gaps filled 10.00 million SIPRI trend indicator values (2009)
Frequently asked questions
- What is tax revenue in Barbados?
- Tax revenue in Barbados was 23.4% in 2016, according to Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF).
- What is the highest tax revenue recorded in Barbados?
- The highest recorded value was 26.7% in 2005.
- What is the lowest tax revenue recorded in Barbados?
- The lowest recorded value was 19.1% in 2013.
- How does Barbados rank for tax revenue?
- Barbados ranks 26th out of 157 countries with data for 2016.
- Is tax revenue rising or falling in Barbados?
- Over the last ten years it is down 7.5%. The long-run trend across the full record is falling.
- Where does this Barbados data come from?
- The figures come from Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF), published as part of Tax revenue (% of GDP). Statizoid updates them automatically from the source API.
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CSV · JSON — 14 observations, free to reuse under CC BY 4.0 (World Bank Open Data).
About this data
Taxes are compulsory, unrequited payments, in cash or in kind, made by institutional units to government units. This indicator is expressed as a percentage of Gross Domestic Product (GDP) which is the total income earned through the production of goods and services in an economic territory during an accounting period.