North & Central America and Caribbean

Barbados
Last reviewed: 04 June 2009

Country information

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TRADE AND INVESTMENT

Trade and Investment with the UK

Barbados is a small market in global terms yet remains a key market for UK companies doing business in the region. The following trade figures do not take into account the considerable levels of invisible trade such as banking, insurance, consultancy, property investment and tourism (out of which 38% comes from Britain) or British goods reaching Barbados via entrepots.

UK/Barbados Visible Trade (£m)

	2004	2005	2006
UK Exports	42.2	55.6	47.0
UK Imports	20.0	23.0	19.9

Main UK exports to Barbados are transport equipment, manufactured articles, food and beverages and chemicals. The UK's primary import from Barbados is sugar, accounting for over 50% of the UK's imports from Barbados. The Barbados authorities are keen to attract foreign direct investment into the country, particularly in manufacturing, tourism, information technology and construction. An Investment Promotion and Protection Agreement (IPPA) and a double taxation agreement are in force between the 2 countries. There has traditionally been a strong programme of trade promotion activity between Barbados and the UK. The Trade and Investment Section of the British High Commission, Bridgetown has hosted several trade missions in recent years.