Comparative Analysis

Barbados shows a real GDP at a fraction of that of the US, NY state and NYC. However, this disparity is understandable and expected because of the differences in population and market tendencies. Barbados has a larger focus on the tourism sector.

The Average Gross Domestic Product one citizen of Barbados makes in a year is significantly smaller than that of the US where the US as a whole has over a $40,000. This means Barbados citizens make lest than half of what the average US citizen makes, less than a third than the average New Yorker and about a sixth of the average city resident.

The inflation rate of Barbados tends to follow the United States in the long run, due to the U.S being like an Exchange Rate Anchor for Barbados. Additionally, Barbados reflect the U.S inflation rate due to the amount of good they import from the United States. Although the difference in inflation rate is due to the sizes of each nation, with Barbados smaller statue making it more likely to be affected by economic policies involving trade. 

Barbados has a relatively lower Gini coefficient than the US, NY state and NYC, meaning there is less income disparity among the population. New York City suffers from significantly higher income inequality in comparison.