169 square miles in size, Barbados is a country that borders the Atlantic Ocean to the north.
Just as our countries with natural resources, there are specific natural resources in Barbados that have helped the economy of the country.
According to data gathered by the World Bank, Barbados had a gross domestic output of around $4.8 billion in 2017, ranking it as the 150th richest in the world.
The nation’s gross domestic product (GDP) per capita was approximately $16,789 in that year, ranking 67th in the world.
Barbados’s economic success can be attributed to its transformation away from being utterly dependent on the production of sugar.
The Barbadian government implemented many policies to guarantee that the natural resources were used effectively for the development of the economy of the nation.
Barbados has a variety of natural resources, but the arable land, minerals, and seafood are the most crucial.
Top 8 Natural Resources in Barbados
The following are the natural resources in Barbados
1. Arable Land
Arable land made up over 37% of Barbados’ total geographical area, according to information from the trading economics website.
The amount of arable land in Barbados has significantly reduced since 2003.
Agriculture was crucial to the Barbadian economy during the colonial era.
The plantation economy was at the time the most prevalent form of agriculture in Barbados.
Today, Barbados grows a variety of products, including yams, sweet potatoes, and sugarcane.
The major issue facing the Barbadian agriculture economy is a lack of adequate rainfall.
Despite having a thriving agricultural economy, Barbados imports a sizable amount of food.
The government has implemented several policies to advance the nation’s agricultural industry since 2008.
To lessen the country’s dependency on imported food crops, the Barbadian government implemented several measures, one of which was to emphasize the growth of food crops.
The government also took steps to encourage Barbadian farmers to adopt cutting-edge farming practices, such as the use of technology.
Large sums of money have also been set aside by the Barbadian government to develop the nation’s agriculture.
Sugarcane was the most prominent crop in Barbados for a sizable chunk of its history.
According to estimates, Barbados’ total exports in 2002 included 8.5% of sugarcane exports.
At the time, the exports of sugarcane were worth roughly $22 million.
The production of sugarcane in Barbados varied greatly in the following years.
Barbados sells the majority of its sugar to countries in the European Union.
Few farmers have kept animals in Barbados due to the lack of pastureland.
The Barbadian government surveyed in 1999 to figure out how many animals lived there.
According to the report, there were 41,000 sheep in the nation, making them the most prevalent livestock.
At the time, Barbados also had 33,000 goats and 23,000 cattle, which were both widely kept animals.
Barbados also has a thriving chicken industry with close to 4 million hens kept by poultry farmers.
Barbados only produces enough milk and poultry products to be regarded as self-sufficient.
Due to its location in the northern part of the Atlantic Ocean, Barbados boasts an abundance of fish resources.
Kingfish, flying fish, and tuna are a few of the fish species that are popular in Barbados.
Fishing in Barbados falls into three primary categories, as it does in most Caribbean countries: subsistence fishing, which is done by residents to supplement their nutrition; sports fishing, which is mostly done by visitors to the island; and commercial fishing, which is done by some businesses there.
2,000 persons were employed in Barbados’ fishing industry, according to the country’s labor bureau.
To capitalize on the numerous sports fisherman who travels to Barbados, numerous businesses have been established there.
Large portions of Barbados were once covered with woods, but the majority of those forests were removed to make room for the cultivation of sugarcane.
Only 0.077 square miles of the original forest cover are thought to be left today.
The Barbadian government put into action a bold plan to expand the area covered by woods.
Today, forests make up about 12% of Barbados’ total land area.
To estimates from 2000, Barbados imports significant volumes of wood products showing that the nation has bought wood products worth $35.3 million.
One of the most valuable natural resources in Barbados is the minerals that are found inside its borders.
Clay, limestone, and shale are a few of the minerals found in Barbados.
Most of the minerals mined in Barbados are used locally, and only a little amount is sold to other countries.
Barbados produced about 132,000 tons of clay and shale in 2001, and 145,000 tons of clay and shale in 2005.
The output of limestone in Barbados changed between 2001 and 2005.
The changes had a big impact on the Barbadian economy because they decreased the country’s mineral revenue.
Barbados has a long history of producing oil going back to the 18th century.
Oil in Barbados was taken out of holes that had been manually dug during this time.
The West India Petroleum Oil Company was one of the earliest businesses to do commercial oil excavation.
To obtain oil in Barbados, the business introduced machine drilling in 1896.
By 1910, the company’s 14 wells—the deepest of which was 1,600 feet—were producing around 25,000 barrels of oil annually.
Other businesses, like the Gulf Oil Company and the General Crude Oil Company, conducted oil exploration in Barbados in the years that followed.
Little progress was made by the two firms in their search for oil in Barbados.
The Barbadian government established a firm in 1982 to carry out oil exploration there.
Barbados produced about 1,000 barrels of oil per day by 2015.
8. Stunning Scenery
Barbados is endowed with a lot of stunning locations that draw a huge number of visitors there each year.
Since the middle of the 20th century, tourism has been one of Barbados’ most important sectors.
Nearly 10% of Barbados’ workforce, according to the country’s labor bureau, are working in the tourist sector.
Sand beaches and the Barbados Wildlife Reserve are two of the island’s most stunning locations.
List of all Natural Resources in Barbados
The natural resources in Barbados include
- Natural Gas
- Coral Reefs
- Carbonaceous deposits
- Arable Land
- Stunning Scenery
There are some obstacles to the Barbadian economy
They include the overreliance on tourism which is the major issue facing the Barbadian economy and the fluctuating oil price is another problem for the Barbadian economy.
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A passion-driven environmentalist by heart. Lead content writer at EnvironmentGo.
I strive to educate the public about the environment and its problems.
It has always been about nature, we ought to protect not destroy.