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Views on Barbados’ Services Exports
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  1. Views on Barbados’ Services Exports Drawing on papers by: Barbados Private Sector Trade Team Systems Consulting Limited Caribbean Regional Negotiating Machinery November 2008

  2. Barbados • Population 274,000 • Land Size 431 Sq Km • GDP (ppp) US$ 5billion • Exports US$ 385million (2006) • Imports US$ 1500million (2006) • Fixed Lines 50 per 100 population • Mobile 85 per 100 population • Internet Users 200,000 est.

  3. Services Development • Barbados continues to diversify from primary commodities (cotton, sugar) and reliance on tourism. • The services sector is developing well and comprises a portfolio of services including financial,communication,construction and related engineering,retail and distribution,educational,health,transport and professional services.

  4. Some Support Elements • Highly Educated Population • Developed Professional Services • Finance Related Treaties • Government Support Schemes • Other Development Assistance • Favourable Climate

  5. Main Export Markets

  6. GDP Current Prices BDS$m

  7. Caribbean Integration • 1968-1972 Free Trade Area (CARIFTA) • 1973-2001 CC Common Market • 2001 Caribbean Single Market & Economy (CSME)

  8. Readiness to Export within CSME Objectives of the Study Likely Impact of CSME Adequacy of information Assess level of competitiveness

  9. Overall Impact of CSME

  10. Firms Currently Exporting Services

  11. Sample Profile of Firms` Exports

  12. Some Concerns of Exporters of Services • Inadequate funding • Regulation issues • Marketing information • Varying quality standards • Transportation issues