Barbados: Taxes on goods and services (% of industry and services value added)

Key figures

What the numbers say

In 2016, Barbados' taxes on goods and services (% of industry and services value added) rose 0.95 percentage points on 2015 (from 12.18% to 13.13%).

Across the 12 yearly changes before that (2004 to 2015), the average change was −0.09 percentage points and a typical year strayed about 1.15 percentage points from that (the standard deviation). This year's change was 0.9 standard deviations above 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 1.72 percentage points in 2011 and the biggest yearly fall was 1.57 percentage points in 2006. The numbers show how large and when, not why; for the cause, look at what happened in that country in those years.

From 2007 to 2016 there is no clear straight-line trend: a straight line explains 14% 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.

Closest to Barbados in the 2016 ranking

• Sudan — 2nd of 2: 7.91%

What this measures

General taxes on goods and services are taxes levied on the production, leasing, delivery, sale, purchase or other change of ownership of a wide range of goods and the provision of a wide range of services. This indicator is expressed as a percentage of value added in industry and services which is the contribution to the economy by industries in ISIC (Rev. 3) divisions 05-43 and 50-99.

Limitations: For most countries central government finance data have been consolidated into one account, but for others only budgetary central government accounts are available. Countries reporting budgetary data are noted in the country metadata. Because budgetary accounts may not include all central government units (such as social security funds), they usually provide an incomplete picture. In federal states the central government accounts provide an incomplete view of total public finance. Data on government revenue and expense are collected by the IMF through questionnaires to member countries and by the Organisation for Economic Co-operation and Development (OECD).

All 14 values

Taxes on goods and services (% of industry and services value added) in nearby economies

• Argentina — 6.91% (2024)
• Bahamas, The — 13.1% (2024)
• Belize — 15.35% (2017)
• Brazil — 6.72% (2024)
• Chile — 11.92% (2024)
• Colombia — 8.85% (2024)
• Costa Rica — 8.27% (2024)
• Dominican Republic — 9.47% (2024)
• Ecuador

More public sector data for Barbados

• Intentional homicides (per 100,000 people) — 7.44 (2023)
• Intentional homicides, female (per 100,000 female) — 0.68 (2023)
• Intentional homicides, male (per 100,000 male) — 14.77 (2023)
• Armed forces personnel, total — 1,000 (2020)
• Armed forces personnel (% of total labor force) — 0.69% (2020)
• Statistical performance indicators (SPI): Pillar 1 data use score (scale 0-100) — 80 (2024)
• Statistical performance indicators (SPI): Pillar 3 data products score (scale 0-100) — 53.64 (2024)
• Net investment in nonfinancial assets (current LCU) — 126.37 million (2016)
• Net investment in nonfinancial assets (% of GDP)

Reading data like this

• Where to find free public data, and how to check it before you trust it — 2 min read
• Data analysis examples: 6 worked from one dataset — 3 min read
• Real change or random noise? A plain guide to reading your numbers — 2 min read

Questions people ask

What is Barbados's taxes on goods and services (% of industry and services value added)?

13.13% in 2016, according to the World Bank (World Development Indicators).

How has it changed since 2003?

It is down 0.13 percentage points from 13.26% in 2003. The highest value was 14.78% in 2005 and the lowest 10.47% in 2014.

Is the latest change in taxes on goods and services (% of industry and services value added) unusual for Barbados?

In 2016, Barbados' taxes on goods and services (% of industry and services value added) rose 0.95 percentage points on 2015 (from 12.18% to 13.13%). Across the 12 yearly changes before that (2004 to 2015), the average change was −0.09 percentage points and a typical year strayed about 1.15 percentage points from that (the standard deviation). This year's change was 0.9 standard deviations above that average, so it was an ordinary year: it sits within the range of normal year-to-year movement.

Source

World Bank, World Development Indicators, indicator GC.TAX.GSRV.VA.ZS, licensed CC BY 4.0. Original source: Government Finance 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.

Want to ask your own questions of data like this? Try AnalyzeIt: upload a file or ask about public data in plain words, and every figure comes with its working.