71027 Barbados: Trade At-A-Glance Dec-08 2007 GDP 2007 GDP 2007 Share 2007 Trade Membership No. of RTAs/ EIAs (millions) per capita in World Trade per capita GATT WTO Goods Services .. .. .. .. 1967 1995 1 1 Barbados TRADE PERFORMANCE ‡ HI non-OECD Ranking Decile TP High inc TRADE POLICY (TP) (out of 125) .. .. EXTERNAL ENVIRONMENT (EE) (out of 126) .. .. TO EE INSTITUTIONAL ENVIRONMENT (IE) (out of 181) .. .. TRADE FACILITATION (TF) (out of 151) .. .. TRADE OUTCOME (TO) (out of 161) .. .. TF IE ‡ Rankings are based on the "representative" indicators (in bold) in each group below for the latest year Outer bound represents best value in latest year TRADE POLICY (TP)  1995-99^ 2000-04^ 2005-07^ Latest^ Trade Tariff Restrictiveness Index (MFN applied tariffs)& .. .. .. TTRI (applied tariffs including preferences) & .. .. .. TTRI Overall TRI (OTRI, applied tariffs incl. prefs.+NTMs)& .. .. .. (MFN) Other trade policy indicators MFN applied tariff - simple avg (%) 22.8 15.9 13.9 13.9 * Applied Dispersion (coefficient of variation) 2.0 2.5 1.9 1.9 * tariff (wgt avg) Maximum rate 2163.9 1810.2 1000.0 1000.0 * Agriculture - simple avg (%) 32.0 37.9 33.4 33.3 * Import Nonagriculture - simple avg (%) 20.0 12.3 11.0 11.0 * duties MFN applied tariff - trade weighted avg (%) 23.0 21.7 17.7 17.6 * MFN zero-duty imports (% in total imports) 5.4 0.9 13.4 5.8 * Applied tariff (incl. prefs.) - trade weighted avg (%) 22.6 21.7 13.4 13.4 * Nontariff measures Agriculture 34.3 49.1 29.4 29.2 * Nonagriculture 19.1 15.8 10.7 10.7 * 0 10 20 30 40 Applied tariff (incl. prefs.) - production weighted avg (%) .. .. .. HI non-OECD High inc Barbados Applied tariff (incl. prefs.) escalation (finished% minus raw%) .. -2.5 -2.5 * Agriculture .. 8.9 22.7 22.5 * Nonagriculture .. 6.2 -2.2 -2.2 * Import duties (% of imports) .. 5.6 .. .. Services commit. Tariff overhang (MFN bound less MFN applied rate,%) 57.3 62.6 64.5 64.5 * Bound tariff frequency ratio (% of total lines) 98.0 97.9 97.9 97.9 * Specific tariffs frequency ratio (%) 56.4 16.7 0.7 0.7 * 0 40 80 Non-tariff measures frequency ratio (%) .. .. .. .. HI non-OECD High inc Barbados Overall GATS commitment index (0-100, best) .. 5.8 5.8 EXTERNAL ENVIRONMENT (EE)  1995-99^ 2000-04^ 2005-07^ Latest^ MA-TTRI (applied tariffs incl. prefs.)& .. .. MA-OTRI (applied tariffs incl. prefs.+NTMs)& .. .. MA-TTRI Other external environment indicators ROW applied tariff (incl. prefs.) - weighted avg (%) 16.8 9.7 10.2 2.5 * MFN duty free Agriculture 40.9 25.8 17.4 3.3 * (exports) Nonagriculture 3.9 4.8 2.2 1.9 * MFN zero-duty exports (% of total exports) 9.4 22.0 45.0 53.6 * Value of prefer Exports with FTA / CU partners (% of total exports) 29.1 30.3 22.7 20.4 * Preferences (EU+U.S.) utilization rate (%) .. .. 98.4 96.8 * 0 1 Lowest Highest Preferences (EU+U.S.) actual value (% of exports) .. .. 15.4 18.9 * HI non-OECD High inc Barbados Real effective exchange rate (% change,+ =apprec.) .. .. .. .. ^ Indicators shown are period averages, incl. growth rates. Latest indicates 2008; when not available, 2006 or 2007 is used(noted by *). For more infor., see User's Guide at http://www.worldbank.org/wti2008. ŸMFN: most favored nation; NTM: nontariff measures; MA: market access; ROW: rest of the world; FTA: free trade agreement; CU: customs union; WTO: World Trade Organization GATT: General Agreement on Tariffs and Trade; WGI: World Government Indicators; ".." indicates missing value; RTA/EIA: regional trade arrangement / economic integration arrangement; & 2007 are preliminary estimates Barbados Trade At-A-Glance Dec-08 INSTITUTIONAL ENVIRONMENT (IE) 2004 2006 2007 2008 Ease of Doing Business (rank out of 181) .. .. .. .. Starting a business (rank) .. .. .. .. Enforcing contracts (rank) .. .. .. .. Ease of Doing Closing a business (rank) .. .. .. Business Other institutional environment indicators WGI - Regulatory Quality (-2.5 to +2.5, best) 1.05 1.19 1.19 .. 0 80 160 WGI - Rule of Law (-2.5 to +2.5, best) 1.20 1.02 1.17 .. HI non-OECD High inc Barbados WGI - Control of Corruption (-2.5 to +2.5, best) 1.16 1.20 1.33 .. TRADE FACILITATION (TF) 1995-99^ 2000-04^ 2005-07^ Latest^ Logistics Performance Index (LPI, 1 to 5 best) .. .. .. .. Efficiency of customs and other border procedures .. .. .. .. Logistic Index Quality of transport and IT infrastructures .. .. .. .. International transportation costs .. .. .. .. Logistics competence .. .. .. .. Trading Trackability of shipments .. .. .. .. Across Borders Domestic transportation costs .. .. .. .. Timeliness of shipment .. .. .. .. Other trade facilitation indicators UNCTAD Shipping Doing Business - Trading Across Borders (rank out of 181) .. .. .. No. of documents required for exports .. .. .. .. No. of days process required for exports .. .. .. .. Telephones Cost to export (US$ per container) .. .. .. .. per 100 No. of documents required for imports .. .. .. .. No. of days process required for imports .. .. .. .. Secondary Cost to import (US$ per container) .. .. .. .. enrollment Liner shipping connectivity index (0-100 best) .. .. 5.5 5.8 Telephones and mobiles per 100 people 40.6 81.2 116.8 .. Lowest 0 1 Highest Average cost of 3-minute call to U.S. (US$) 4.1 3.4 .. .. HI non-OECD High inc Barbados Internet usage (per 100 people) 1.0 21.0 78.5 95.3 * Secondary gross school enrollment (%) 100.3 97.6 102.6 102.2 * * TRADE OUTCOME (TO) ## 1995-99^ 2000-04^ 2005-07^ Latest^ Real growth in trade of goods and services (%) 3.5 -0.8 .. .. 10 9.3 9.2 8.7 Exports 0.8 -0.6 .. .. 8 8.0 7.9 6.6 6 Imports 6.3 -1.0 .. .. 5.3 5.2 4 Other trade outcome indicators 3.5 2 Trade integration (trade as % of GDP) 114.8 113.4 130.7 .. 0 0.0 0.0 FDI inflow (% of GDP) 0.7 0.8 2.0 .. 1995-99 2000-04 -0.8 2005-07 2008 -2 World trade share growth (%) 1.9 -5.1 5.4 .. Trade Growth Rate Exports -0.4 -5.9 7.1 .. Barbados HI non-OECD High inc Imports 4.5 -4.4 4.0 .. Merchandise share in total exports (%) 22.2 19.7 20.6 .. Exports Share (2005-07) Agriculture 9.4 8.0 8.0 .. Agric, Manuf, Manufacturing 12.2 9.9 10.4 .. 8.0 10.4 Mining, fuel and others 0.6 1.8 2.2 .. Mining, Service share in total exports (%) 77.8 80.3 79.4 .. 2.2 Tourism 54.2 51.9 48.8 .. Transportation 1.6 1.8 1.4 .. Other services 22.0 26.6 29.2 .. Export product concentration index (0 to 100, highest) 19.1 20.6 26.0 25.1 * Service, Export market concentration index (0 to 100, highest) 32.8 31.5 30.1 30.4 * 79.4 Top 5 exports share (% of merchandise exports) .. .. 43.4 52.6 * Top 5 exports (SITC Rev. 2; 3 digit) ( 333) Petroleum crude (112) Alcoholic beverages (542) Medicaments ( 061) Sugar, molasses, and honey ( 661) Construction Material ^ Indicators shown are period averages, incl. growth rates. Latest indicates 2008; when not available, 2006 or 2007 is used (noted by *). For more info., see User's Guide at http://www.worldbank.org/wti2008 ## Most outcome indicators (mostly through 2007) are from the WDI (World Bank, Data Group), UNCTAD or COMTRADE; for filling gaps and 2008, data from the Prospects Group are used.