Discusses pricing formula and other fees, value-added tax (VAT), etc.
Last Published: 7/8/2019

Local companies use the cost plus method to price their products.  The cost base is the cost+insurance+freight (CIF), including local charges.  Markups generally range from 20 to 50 percent.  Higher markups exist for specialty items where there is little or no competition.

Prices in Barbados are high, typically 1.5 to 2.5 times higher than what a product would sell for in the United States.  Import tariffs and taxes are high, and competition at the wholesale and retail level is minimal. 

Prepared by our U.S. Embassies abroad. With its network of 108 offices across the United States and in more than 75 countries, the U.S. Commercial Service of the U.S. Department of Commerce utilizes its global presence and international marketing expertise to help U.S. companies sell their products and services worldwide. Locate the U.S. Commercial Service trade specialist in the U.S. nearest you by visiting http://export.gov/usoffices.