Barbados's net secondary income (current US$, BoP) was −US$58.4 million in 2017, the latest year in the World Bank's World Development Indicators. That is down 444.33% from −US$10.73 million in 2007.
Key figures
| Value | Year | |
|---|---|---|
| Latest | −US$58.4 million | 2017 |
| Five years earlier | −US$12.76 million | 2012 |
| Ten years earlier | −US$10.73 million | 2007 |
| Highest | US$72.87 million | 2003 |
| Lowest | −US$82.78 million | 2008 |
| Average since 2008 | −US$30.86 million | 2008–2017 |
| First recorded | US$3.28 million |
What the numbers say
In 2017, Barbados' net secondary income (current US$, BoP) fell US$16.14 million on 2016 (from −US$42.26 million to −US$58.4 million).
Across the 30 yearly changes before that (1987 to 2016), the average change was −US$2.19 million and a typical year strayed about US$29.83 million from that (the standard deviation). This year's change was 0.5 standard deviations below that average, so it was an ordinary year: it sits within the range of normal year-to-year movement.
On record, the biggest yearly rise was US$47.61 million in 2012 and the biggest yearly fall was US$83.39 million in 2005. The numbers show how large and when, not why; for the cause, look at what happened in that country in those years.
From 2008 to 2017 there is no clear straight-line trend: a straight line explains 17% of the movement over 10 observed years, so the value is moving around more than it is heading anywhere.
Worked out from the yearly values above. How the checks work: standard deviation, z-scores and straight-line trends.
What this measures
Net secondary income (from abroad) comprises transfers of income between residents of the reporting country and the rest of the world that carry no provisions for repayment. Net secondary income is equal to the unrequited transfers of income from nonresidents to residents minus the unrequited transfers from residents to nonresidents. This indicator is expressed in current prices, meaning no adjustment has been made to account for price changes over time. This indicator is expressed in United States dollars.
Limitations: Discrepancies may arise in the balance of payments because there is no single source for balance of payments data and therefore no way to ensure that the data are fully consistent. Sources include customs data, monetary accounts of the banking system, external debt records, information provided by enterprises, surveys to estimate service transactions, and foreign exchange records. Differences in collection methods - such as in timing, definitions of residence and ownership, and the exchange rate used to value transactions - contribute to net errors and omissions. In addition, smuggling and other illegal or quasi-legal transactions may be unrecorded or misrecorded.
All 51 values
| Year | Net secondary income (current US$, BoP) |
|---|---|
| 2017 | -58,395,286 |
| 2016 | -42,255,487 |
| 2015 | 8,796,717 |
| 2014 | 19,565,743 |
| 2013 | 10,429,419 |
| 2012 | -12,762,454 |
| 2011 | -60,367,897 |
| 2010 | -36,633,865 |
| 2009 | -54,168,478 |
| 2008 | -82,783,127 |
| 2007 |
Net secondary income (current US$, BoP) in nearby economies
- Antigua and Barbuda — −US$105.78 million (2025)
- Argentina — US$2.53 billion (2025)
- Aruba — −US$77.68 million (2023)
- Bahamas, The — US$65.43 million (2024)
- Belize — US$149.91 million (2025)
- Bolivia — US$1.17 billion (2025)
- Brazil — US$5.54 billion (2025)
- Chile — US$93.63 million (2025)
- Colombia — US$16.43 billion (2025)
- Costa Rica — US$629.67 million (2025)
More economic policy & debt data for Barbados
- GDP (current US$) — US$8.02 billion (2025)
- GDP (current LCU) — 16.03 billion (2025)
- GDP (constant 2015 US$) — US$6.5 billion (2025)
- GDP (constant LCU) — 15.34 billion (2025)
- GDP per capita (current US$) — US$28,365 (2025)
- GDP per capita (current LCU) — 56,730 (2025)
- GDP per capita (constant 2015 US$) — US$23,014 (2025)
- GDP per capita (constant LCU) — 54,263 (2025)
- GNI (current US$) — US$7.69 billion (2025)
- GNI (current LCU) — 15.38 billion (2025)
- GNI per capita (current LCU) — 54,417 (2025)
Reading data like this
Questions people ask
- What is Barbados's net secondary income (current US$, BoP)?
- −US$58.4 million in 2017, according to the World Bank (World Development Indicators).
- How has it changed since 1967?
- It is down 1,882% from US$3.28 million in 1967. The highest value was US$72.87 million in 2003 and the lowest −US$82.78 million in 2008.
- Is the latest change in net secondary income (current US$, BoP) unusual for Barbados?
- In 2017, Barbados' net secondary income (current US$, BoP) fell US$16.14 million on 2016 (from −US$42.26 million to −US$58.4 million). Across the 30 yearly changes before that (1987 to 2016), the average change was −US$2.19 million and a typical year strayed about US$29.83 million from that (the standard deviation). This year's change was 0.5 standard deviations below that average, so it was an ordinary year: it sits within the range of normal year-to-year movement.
- Where does this data come from?
- The World Bank's World Development Indicators, licensed CC BY 4.0. Original source: Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF).
Source
World Bank, World Development Indicators, indicator BN.TRF.CURR.CD, licensed CC BY 4.0. Original source: Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF) Figures are fetched from the World Bank API and refreshed monthly; see the series on data.worldbank.org. The full definition and method are in the World Bank's metadata glossary. Comparisons use the same World Bank release.
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