Taxes on goods and services (current LCU) in Barbados
Barbados: Taxes on goods and services (current LCU) was 1.32 billion current LCU in 2016. ▲ Rising
Taxes on goods and services in Barbados, 2003–2016
Source: Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF). Measured in current LCU.
Analysis
In 2016, taxes on goods and services in Barbados stood at 1.32 billion current LCU. That is the highest value across all 14 years on record.
That represents a change of up 7.4% on the previous year and up 33.3% over ten years.
Over the whole period, taxes on goods and services in Barbados peaked at 1.32 billion current LCU in 2016 and was at its lowest, 744.57 million current LCU, in 2003.
Barbados ranks 138th of 157 countries on this measure, in the bottom quarter.
The long-run direction has been consistently rising across the 14 years of available data.
Taxes on goods and services (current LCU) in Barbados, year by year
| Year | current LCU | Change |
|---|---|---|
| 2003 | 744.57 million current LCU | — |
| 2004 | 878.60 million current LCU | +18.0% |
| 2005 | 980.64 million current LCU | +11.6% |
| 2006 | 988.38 million current LCU | +0.8% |
| 2007 | 1.09 billion current LCU | +10.3% |
| 2008 | 1.10 billion current LCU | +0.9% |
| 2009 | 1.00 billion current LCU | -8.9% |
| 2010 | 1.08 billion current LCU | +7.4% |
| 2011 | 1.28 billion current LCU | +19.2% |
| 2012 | 1.14 billion current LCU | -10.9% |
| 2013 | 1.15 billion current LCU | +0.6% |
| 2014 | 1.06 billion current LCU | -7.7% |
| 2015 | 1.23 billion current LCU | +15.4% |
| 2016 | 1.32 billion current LCU | +7.4% |
Barbados compared with similar countries
- Barbados's 1.32 billion current LCU is below the median for high income countries, which is 39.13 billion current LCU, 3% of the median. (57 countries reporting)
- Barbados's 1.32 billion current LCU is below the median for Latin America & Caribbean, which is 58.28 billion current LCU, 2% of the median. (25 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2000s | 969.35 million current LCU | 744.57 million current LCU | 1.10 billion current LCU | 7 |
| 2010s | 1.18 billion current LCU | 1.06 billion current LCU | 1.32 billion current LCU | 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)
- Universal right to vote in practice, annual growth rate 0 % change on previous year (2025)
- Elected parliament, annual growth rate 0 % change on previous year (2025)
- Universal right to vote, annual growth rate 0 % change on previous year (2025)
- Men's universal right to vote, annual growth rate 0 % change on previous year (2025)
- Democracy 7 (2025)
- Chief executive of the government is elected 1 (2025)
- Elected parliament 1 (2025)
- Men's universal right to vote 1 (2025)
Frequently asked questions
- What is taxes on goods and services in Barbados?
- Taxes on goods and services in Barbados was 1.32 billion current LCU in 2016, according to Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF).
- What is the highest taxes on goods and services recorded in Barbados?
- The highest recorded value was 1.32 billion current LCU in 2016.
- What is the lowest taxes on goods and services recorded in Barbados?
- The lowest recorded value was 744.57 million current LCU in 2003.
- How does Barbados rank for taxes on goods and services?
- Barbados ranks 138th out of 157 countries with data for 2016.
- Is taxes on goods and services rising or falling in Barbados?
- Over the last ten years it is up 33.3%. The long-run trend across the full record is rising.
- 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 Taxes on goods and services (current LCU). Statizoid updates them automatically from the source API.
Download this data
CSV · JSON — 14 observations, free to reuse under CC BY 4.0 (World Bank Open Data).
About this data
General taxes on goods and services are taxes levied on the production, leasing, delivery, sale, purchase or other change of ownership of a wide range of goods and the provision of a wide range of services. This indicator is expressed in current prices, meaning no adjustment has been made to account for price changes over time. This series is expressed in local currency units.