Flag: three equal vertical bands of blue (hoist side), gold, and blue with the head of a black trident centered on the gold band; the trident head represents independence and a break with the past (the colonial coat of arms contained a complete trident)
Economy ———-
Economic overview: Historically, the Barbadian economy has been dependent on sugarcane cultivation and related activities, but in recent years the production has diversified into manufacturing and tourism. Sluggish performances in the sugar and tourism sectors - which declined by 25% and 8% respectively - tempered economic expansion in 1995; output increased by 2% for the year, down from nearly 4% in 1994. Improved weather conditions in 1995 are expected to boost agriculture output in 1996. Since taking office in 1994, Prime Minister ARTHUR has aggressively moved to promote foreign direct investment as part of a policy designed to reduce nagging unemployment. The government has also been active in promoting regional integration initiatives.
GDP: purchasing power parity - $2.5 billion (1995 est.)
GDP real growth rate: 2% (1995 est.)
GDP per capita: $9,800 (1995 est.)
GDP composition by sector: agriculture: 6.4% industry: 39.3% services: 54.3% (1994)
Inflation rate (consumer prices): 1.7% (1995 est.)
Labor force: 126,000 (1993) by occupation: services and government 41%, commerce 15%, manufacturing and construction 18%, transportation, storage, communications, and financial institutions 8%, agriculture 6%, utilities 2% (1992 est.)
Unemployment rate: 19.9% (September 1995)