Barbados - GDP per person employed (constant 2011 PPP $)

The latest value for GDP per person employed (constant 2011 PPP $) in Barbados was 28,589 as of 2020. Over the past 29 years, the value for this indicator has fluctuated between 34,755 in 1991 and 28,589 in 2020.

Definition: GDP per person employed is gross domestic product (GDP) divided by total employment in the economy. Purchasing power parity (PPP) GDP is GDP converted to 2011 constant international dollars using PPP rates. An international dollar has the same purchasing power over GDP that a U.S. dollar has in the United States.

Source: International Labour Organization, ILOSTAT database. Data retrieved in September 2019.

See also:

Year Value
1991 34,755
1992 32,192
1993 32,602
1994 32,066
1995 30,840
1996 30,530
1997 31,378
1998 31,477
1999 30,720
2000 31,061
2001 29,875
2002 30,528
2003 30,899
2004 30,466
2005 31,355
2006 33,687
2007 33,744
2008 34,107
2009 33,184
2010 32,672
2011 31,949
2012 32,431
2013 31,535
2014 32,937
2015 32,629
2016 31,947
2017 32,592
2018 32,539
2019 33,041
2020 28,589

Development Relevance: Labor productivity is used to assess a country's economic ability to create and sustain decent employment opportunities with fair and equitable remuneration. Productivity increases obtained through investment, trade, technological progress, or changes in work organization can increase social protection and reduce poverty, which in turn reduce vulnerable employment and working poverty. Productivity increases do not guarantee these improvements, but without them - and the economic growth they bring - improvements are highly unlikely. GDP per person employed is a key measure to monitor whether a country is on track to achieve the Sustainable Development Goal of promoting sustained, inclusive and sustainable economic growth, full and productive employment and decent work for all. [SDG Indicator 8.2.1]

Limitations and Exceptions: For comparability of individual sectors labor productivity is estimated according to national accounts conventions. However, there are still significant limitations on the availability of reliable data. Information on consistent series of output in both national currencies and purchasing power parity dollars is not easily available, especially in developing countries, because the definition, coverage, and methodology are not always consistent across countries. For example, countries employ different methodologies for estimating the missing values for the nonmarket service sectors and use different definitions of the informal sector.

Statistical Concept and Methodology: GDP per person employed represents labor productivity — output per unit of labor input. To compare labor productivity levels across countries, GDP is converted to international dollars using purchasing power parity rates which take account of differences in relative prices between countries.

Aggregation method: Weighted average

Base Period: 2011

Periodicity: Annual

Classification

Topic: Labor & Social Protection Indicators

Sub-Topic: Economic activity