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Trinidad and Tobago's economy in numbers:
Nominal GDP of USD 27.9 billion in 2022.
Nominal GDP of USD 28.1 billion in 2023.
GDP per capita of USD 19,804 compared to the global average of USD 10,589.
GDP per capita of USD 19,731 compared to the global average of USD 10,589.
Average real GDP growth of 0.6% over the last decade.
Average real GDP growth of 0.7% over the last decade.
Economic structure:
In 2020, services accounted for 65% of overall GDP, manufacturing 16%, other industrial activity 18%, and agriculture 1%. Looking at GDP by expenditure, private consumption accounted for % of GDP in 2016, government consumption 17%, fixed investment 9%, and net exports 74%.International trade:
In 2021, manufactured products made up 69% of total merchandise exports, mineral fuels 24%, food 6%, ores and metals 1% and agricultural raw materials 0%, with other categories accounting for 0% of the total. In the same period, manufactured products made up 71% of total merchandise imports, mineral fuels 1%, food 18%, ores and metals 10% and agricultural raw materials 1%, with other goods accounting for -1% of the total. Total exports were worth USD 17 billion in 2022, while total imports were USD 8 billion.Economic growth:
The economy recorded an average annual decrease of 0.6% in the decade to 2022. To read more about GDP growth in Trinidad and Tobago, go to our dedicated page.
Fiscal policy:
Trinidad and Tobago's fiscal deficit averaged 6.0% of GDP in the decade to 2022. Find out more on our dedicated page.
Unemployment:
The unemployment rate averaged 4.4% in the decade to 2022. For more information on Trinidad and Tobago's unemployment click here.
Inflation:
Inflation averaged 3.7% in the decade to 2022. Go to our Trinidad and Tobago inflation page for extra insight.
Monetary Policy:
Trinidad and Tobago's monetary policy rate ended 2022 at 3.50%, up from 2.75% a decade earlier. See our Trinidad and Tobago monetary policy page for additional details.
Exchange Rate:
From end-2012 to end-2022 the Trinidad and Tobago dollar weakened by 5.9% vs the U.S. dollar. For more info on the Trinidad and Tobago dollar, click here.
35 indicators covered including both annual and quarterly frequencies.
Consensus Forecasts based on a panel of 7 expert analysts.
Want to get insight on the economic outlook for Trinidad and Tobago in the coming years? FocusEconomics collects projections out to 2034 on 35 economic indicators for Trinidad and Tobago from a panel of 7 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts, and averaged to provide one Consensus Forecast you can rely on for each indicator. This means you avoid the risk of relying on out of date, biased or outlier forecasts. Our Consensus Forecasts can be visualized in whichever way best suits your needs, including via interactive online dashboards , direct data delivery and executive-style reports which combine analysts' projections with timely written analysis from our in-house team of economists on the latest developments in the Trinidad and Tobago economy. To download a sample report on the Trinidad and Tobago's economy, click here. To get in touch with our team for more information, fill in the form at the bottom of this page.