Barbados vs Cayman Islands: GDP, PPP
GDP, PPP over time
- Barbados
- Cayman Islands
How they compare
Barbados currently reports 6.25 billion constant 2021 international $ against 6.03 billion constant 2021 international $ in Cayman Islands, a difference of 222.93 million constant 2021 international $.
The two have swapped places 2 times across 19 shared years of data; in 2006 it was Barbados ahead.
Globally, Barbados ranks 166th and Cayman Islands ranks 168th of 199 countries.
Individual pages
About this data
This indicator provides values for gross domestic product (GDP) expressed in constant international dollars, converted by purchasing power parities (PPPs). PPPs account for the different price levels across countries and thus PPP-based comparisons of economic output are more appropriate for comparing the output of economies and the average material well-being of their inhabitants than exchange-rate based comparisons. Gross domestic product is the total income earned through the production of goods and services in an economic territory during an accounting period. It can be measured in three different ways: using either the expenditure approach, the income approach, or the production approach. This indicator is expressed in constant prices, meaning the series has been adjusted to account for price changes over time. The reference year for this adjustment is 2021. The PPP conversion factor is a currency conversion factor and a spatial price deflator. PPPs convert different currencies to a common currency and, in the process of conversion, equalize their purchasing power by eliminating the differences in price levels between countries, thereby allowing volume or output comparisons of GDP and its expenditure components.