Increased foreign investment inflows and a robust tourism performance primarily contributed to Barbados’ sustained growth trajectory during the first half of 2025.
Governor of the Central Bank of Barbados, Dr. Kevin Greenidge, recently presented the Review of the Barbados’ Economy: January – June 2025.
According to Governor Greenidge, the country recorded an estimated expansion of 2.5% from January to June.
In addition to this favourable news, the Barbados’ unemployment rate trended downward to a record low of 6.3% during the first quarter of the year.
Barbados’ global business sector saw an increase in the issuances of foreign currency permits (FCPs), which according to the Central Bank’s report, highlighted the favourable response of new entities to the revised FCP legislation.
With regards to the tourism sector, total arrivals stood at 394,675, an increase of 3.3%. The United States made up the bulk of the increased arrivals, accounting for more than 90% of the overall increase.
Other sectors contributing to the country’s economic growth included construction, business and other services and wholesale and retail.
Despite heightened geopolitical tensions and worsened global trade conditions, Barbados’ economy was still able to perform well.
The remainder of 2025 is anticipated to maintain its positive growth trajectory, with the full year projected to grow at approximately 2.7%, and beyond 2025, at 3%. Barbados will, however, continue to monitor any possible external risks, buttressed by its ability to favourably manage global uncertainty.
Click here to view the Central Bank’s full report and media presentation.