Tax revenue in Barbados
Barbados: Tax revenue 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 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% |
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
- 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)
- Arms imports (SIPRI trend indicator values), per square kilometre 23,256 SIPRI trend indicator values per square kilometre (2009)
- Capital stock, General government, Current prices, Domestic currency 9.85 (2019)
- Taxes on income, profits and capital gains 30.0% (2016)
- Capital stock, General government, Constant prices, Percent of GDP 132.09 (2019)
- Capital stock, General government, Constant prices, Purchasing power 4.43 (2019)
- Taxes on goods and services 45.9% (2016)
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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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.