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Since the island country's independence in 1966, the economy of Barbados has been transformed from a low-income economy dependent upon sugar production into a high-income economy based on tourism and the offshore sector. Barbados went into a deep recession in the 1990s after 3 years of steady decline brought on by fundamental macroeconomic ...
Barbados (UK: / b ɑːr ˈ b eɪ d ɒ s / bar-BAY-doss; US: / b ɑːr ˈ b eɪ d oʊ s / bar-BAY-dohss; locally / b ɑːr ˈ b eɪ d ə s / bar-BAY-dəss) is an island country in the Lesser Antilles of the West Indies, in the Caribbean region next to North America and north of South America, and is the most easterly of the Caribbean islands.
English is the official language of Barbados, and is used for communications, administration, and public services all over the island. In its capacity as the official language of the country, the standard of English tends to conform to the vocabulary, pronunciations, spellings, and conventions akin to, but not exactly the same as, those of British English.
W. West Indies Sugar & Trading Company. DeLisle Worrell. Categories: Barbados. Economies by country. Economies of Caribbean countries. Economies of North America by country. Economy of the Caribbean Community.
Economist Intelligence Unit: Quality-of-life index 2005, ranked 33rd out of 108 countries [15] Fund For Peace: Failed States Index) 2009, ranked 135 out of 177. Happy Planet Index: 2006, ranked 43rd out of 178 countries. Institute for Economics and Peace Global Peace Index 2009, N/A.
The maritime claim for Barbados is a territorial sea of 12 nmi (22.2 km; 13.8 mi), with an exclusive economic zone of 200 nmi (370.4 km; 230.2 mi) which gives Barbados a total maritime area of 186,898 km 2 (72,162 sq mi). [2] Of the total EEZ area, 70,000 km 2 is set aside for offshore oil exploration. [3]
Historically, the Caribbean's banana industry has been one of the biggest exports; however, agriculture is beginning to decline in the world economy. Now, it is the exportation of labor that is on the rise in the Caribbean. Caribbean women are migrating to developed countries for the opportunity to study particularly in nursing programs.
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