Analysis of Agricultural Policies in Barbados
The agricultural sector accounts for 3.8 percent of the GDP of Barbados and 2.9 percent of its jobs. The Government of Barbados considers agriculture to be one of the nation’s potential growth drivers and supports it through a combination of incentives and concessions to agricultural producers, high border protection, and support to research and infrastructure. Support to producers in Barbados averaged 33.4 percent of gross farm receipts in the latest 3 years of the study (2012-2014), while a significant share of total support (38 percent) was provided in the form of transfers to general services. Total transfers arising from agricultural policy reached 1.1 percent of the national GDP. All types of support decreased during the period of study, but the share of price support in support to producers increased. Reorienting agricultural policy from input subsidies and per-hectare payments towards support to general services would be beneficial for agricultural competitiveness and build a foundation for sustainable growth in agriculture.