Barbados has recorded double digit economic growth of an
estimated 10.5% over the first six months of 2022.
This was revealed during the Review of Barbados' Economic
Performance, January – June 2022, by Governor of the Central
Bank of Barbados, Cleviston Haynes. Governor Haynes noted that this
growth was buttressed by a rebound in the tourism sector, which
although not fully back to pre-pandemic levels, performed
marginally better than expected. Manufacturing exports and domestic
spending also contributed to Barbados' economic growth.
Barbados' unemployment rate continued a steady decline,
falling from 17.2% in early 2021 to 9.0% for the first quarter of
2022, as pandemic restrictions eased. Employment was spurred by
both the private and public sectors in areas including tourism,
wholesale and retail, transport and communications.
