Taxes on goods and services in Barbados
Barbados: Taxes on goods and services was 13.1% in 2016. ▼ Falling
Taxes on goods and services in Barbados, 2003–2016
Source: Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF). Measured in % value added of industry and services.
Analysis
In 2016, taxes on goods and services in Barbados stood at 13.1%.
That represents a change of up 7.8% on the previous year and down 0.6% over ten years.
Over the whole period, taxes on goods and services in Barbados peaked at 14.8% in 2005 and was at its lowest, 10.5%, in 2014.
Barbados ranks 46th of 154 countries on this measure, in the middle of the range.
The long-run direction has been consistently falling across the 14 years of available data.
Taxes on goods and services in Barbados, year by year
| Year | % value added of industry and services | Change |
|---|---|---|
| 2003 | 13.3% | — |
| 2004 | 14.5% | +9.3% |
| 2005 | 14.8% | +1.9% |
| 2006 | 13.2% | -10.6% |
| 2007 | 13.4% | +1.8% |
| 2008 | 13.1% | -2.4% |
| 2009 | 12.6% | -4.1% |
| 2010 | 11.1% | -11.6% |
| 2011 | 12.8% | +15.5% |
| 2012 | 11.8% | -7.7% |
| 2013 | 11.4% | -3.9% |
| 2014 | 10.5% | -8.0% |
| 2015 | 12.2% | +16.3% |
| 2016 | 13.1% | +7.8% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2000s | 13.6% | 12.6% | 14.8% | 7 |
| 2010s | 11.9% | 10.5% | 13.1% | 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)
- Tax revenue 23.4% (2016)
- 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)
Frequently asked questions
- What is taxes on goods and services in Barbados?
- Taxes on goods and services in Barbados was 13.1% 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 14.8% in 2005.
- What is the lowest taxes on goods and services recorded in Barbados?
- The lowest recorded value was 10.5% in 2014.
- How does Barbados rank for taxes on goods and services?
- Barbados ranks 46th out of 154 countries with data for 2016.
- Is taxes on goods and services rising or falling in Barbados?
- Over the last ten years it is down 0.6%. 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 Taxes on goods and services (% value added of industry and services). 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 as a percentage of value added in industry and services which is the contribution to the economy by industries in ISIC (Rev. 3) divisions 05-43 and 50-99.