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Market Overview of Barbados

Barbados is in the Eastern Caribbean, 21 miles long by 14 miles wide.   Barbados enjoys a long-standing democratic tradition, a strong commitment to the rule of law and an open economy with a marked dependence upon imports, 40 percent of which come from the United States.

Barbados enjoys a longstanding democratic tradition and a strong commitment to the rule of law and political and economic freedom.

Market Opportunities

Barbados imports 70 percent of its food, over a third of which comes from the United States. Trade opportunities will remain for U.S. exporters of hotel and restaurant supplies, specialty agriculture, and renewable energy technology and consumer products. These exports have continually increased over the last two years and are expected to continue. Barbados also has a very generous bilateral trade and; investment and tax treaties with larger countries such as China.

Barbados is a Caribbean Community (CARICOM) member country of the CARICOM Single Market and Economy (CSME). Once fully in place, the CSME will reduce or remove restrictions on the movement of goods, services, labor, and capital throughout the region.

The country increased the Renewable Energy Rider capacity from 9 Megawatts to 20 Megawatts. The Government of Barbados remains committed to renewable energy accounting for 29 percent of the island’s primary electricity by 2029.

Market Entry Strategy

Barbados is a small island, with many family-run companies with business relationships that often extend over generations. For this reason, the services of a well-connected local agent/distributor are recommended.

Leading Sectors for Exports and Investments:

  • Agricultural Commodities
  • Hotel and Restaurant Equipment
  • Medical Equipment
  • Sailing Equipment
  • Telecommunications
  • Construction
  • Renewable Energy Technology and Equipment

Read the complete Country Commercial Guide for Barbados, an excellent starting point to find everything you need to know about doing business overseas.


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