The Barbados economy maintained its positive trajectory of expansion from January to September of this year. Real GDP grew by 2.7% buttressed by favourable performance in sectors including tourism, agriculture, construction and business and other services.
Governor of the Central Bank of Barbados, Dr. Kevin Greenidge, delivered this welcome news at the recent press conference on the review of the Barbados economy during the first nine months of 2025.
It was reported that unemployment rates dropped to a record low of 6.1% at the end of June 2025, while inflation rates slowed to 0.5% by August.
The global business sector also experienced an uptick, as the number of Government-issued foreign currency permits (FCP) increased. Amendments were made to the FCP legislation earlier in the year.
According to the Central Bank’s report, the Barbados economy is projected to maintain its growth at 2.7% by year-end, with trends leaning towards 3% over the medium term. This is dependent on the performance in the tourism sector, public and private investment in infrastructure and housing, the expansion of the digital economy and targeted productivity reforms.
Click here to view the Central Bank’s media presentation and read the full report.