United States. Central Intelligence Agency

“ Economy Barbados Economy - overview: Historically, the Barbadian economy had been dependent on sugarcane cultivation and related activities, but production in recent years has diversified into light industry and tourism. Offshore finance and information services are important foreign exchange earners. The government continues its efforts to reduce unemployment, to encourage direct foreign investment, and to privatize remaining state-owned enterprises. The economy contracted in 2002-03 mainly due to a decline in tourism. ”

“ The economy remained heavily dependent on sugar, rum, and molasses production through most of the 20th century. The gradual introduction of social and political reforms in the 1940s and 1950s led to complete independence from the UK in 1966. In the 1990s, tourism and manufacturing surpassed the sugar industry in economic importance. ”

“ Labor force: 128,500 (2001 est.) Labor force - by occupation: agriculture 10%, industry 15%, services 75% (1996 est.) Unemployment rate: 10.7% (2003 est.) Budget: revenues: $847 million (including grants)
expenditures: $886 million, including capital expenditures of NA (2000 est.) Agriculture - products: sugarcane, vegetables, cotton Industries: tourism, sugar, light manufacturing, component assembly for export Industrial production growth rate: -3.2% (2000 est.) ”