Shrinking Lifeline For Trinidad and Tobago
The republic of Trinidad and Tobago girds for austerity as oil brings in less foreign exchange.
Trinidad and Tobago GDP and Economic Data
Includes Trinidad and Tobago real Gross Domestic Product growth rate, with latest forecasts and historical data, GDP per capita, GDP composition and breakdown by sector.
Browse additional economic indicators and data sets, selected by Global Finance editors, to learn more about Trinidad and Tobago economic outlook, debt to GDP ratio, international trade performance and population trends. Rankings of the country best banks and safest banks are also available.
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International Reserves
USD 6.0 billion (2016)
International Monetary Fund (IMF), data retrieved October 2019
GDP (Purchasing Power Parity)
Intl$ 144.2 billion (2018, estimate)
Source
Real GDP growth
| 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 |
| 6.7% | 4.2% | 3% | 3.5% | -1.9% | 4% | 2.9% |
| 2014 | 2015 | 2016 | 2017* | 2018* | ||
| 3% | 1.2% | 1.1% | 2% | 2.5% |
*Estimate
Source
GDP (PPP) - share of world total
| 1980 | 1990 | 2000 | 2010 | 2019* |
| 0.06% | 0.04% | 0.04% | 0.04% | 0.11% |
*Estimate
Source
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GDP - composition by sector
- agriculture: 9.5%
- industry: 23.1%
- services: 60.3%
(2017 estimate)
Inflation
| 2015 | 2016* | 2017* | 2018* | 2019* |
| 4.4% | 3.6% | 5.3% | 7.3% | 6.6% |
*Estimate
Source
Unemployment rate
| 2015 | 2016* | 2017* | 2018* | 2019* |
| 15.2% | 15.6% | 15.3% | 15.4% | N/A |
*Estimate
Source
Public debt (General government gross debt as a % of GDP)
| 2015 | 2016* | 2017* | 2018* | 2019* |
| 55.4% | 62.3% | 70.6% | 77% | 74.4% |
*Estimate
Source
Public deficit (General government net lending/borrowing as a % of GDP)
| 2015 | 2016* | 2017* | 2018* | 2019* |
| -5.3% | -6.2% | -5.9% | -4.6% | -4.4% |
*Estimate
Source
Government bond ratings
Standard & Poor's: N/A
Moody's: B2
Standard & Poor's / Moody's
Source
Market value of publicly traded shares
| 2016 | 2017 | 2018 |
| N/A | N/A | N/A |
Source
Current account balance by percentage of GDP
7.1 % (2018 estimate)
Source
Exports as percent of GDP (Exports of goods and services)
N/A
Shares in world total merchandising export
0.05% (2018)
Shares in world total commercial services export
0.02% (2018)
Export commodities
Petroleum and petroleum products, liquefied natural gas, methanol, ammonia, urea, steel products, beverages, cereal and cereal products, cocoa, fish, preserved fruits, cosmetics, household cleaners, plastic packaging
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Import commodities
Mineral fuels, lubricants, machinery, transportation equipment, manufactured goods, food, chemicals, live animals
Exports - major partners
US 34.8%, Argentina 9% (2017)
Imports - major partners
US 23.8%, Russia 15.3%, Colombia 11.1%, Gabon 10.5%, China 7.3% (2017)
FDI inflows
| 2016 | 2017 | 2018 |
| USD -24 million | USD -456 million | USD -436 million |
FDI outflows
| 2016 | 2017 | 2018 |
| USD 83 million | USD 94 million | USD 155 million |
Value of cross-border M&A, by country of purchaser
| 2015 | 2016 | 2017 | 2018 |
| N/A | N/A | N/A | N/A |
Cross-border M&A deals worth over $3 billion completed in 2014
N/A
(for a monthly update on M&A; click here )
Cross-border M&A deals worth over $3 billion completed in 2015
N/A
(for a monthly update on M&A; click here )
Best countries for doing business
Economies are ranked on their ease of doing business. A high ease of doing business ranking means the regulatory environment is more conducive to the starting and operation of a local firm.
Overall ranking:
105 out of 190 countries
Subcategories:
Starting a Business: 79 out of 190 countries
Dealing with Construction Permits: 126 out of 190 countries
Getting Electricity: 43 out of 190 countries
Registering Property: 158 out of 190 countries
Getting Credit: 67 out of 190 countries
Protecting Minority Investors: 57 out of 190 countries
Paying Taxes: 160 out of 190 countries
Trading across Borders: 134 out of 190 countries
Enforcing Contracts: 174 out of 190 countries
Resolving Insolvency: 83 out of 190 countries
Source
Global competitiveness ranking
79 out of 141 countries
(2019)
Index of Economic Freedom
Ranking: 112 / Score: 57 (Mostly unfree)
(100=totally free 0=totally repressed)
Source
Source
Languages
English (official), Trinidadian Creole English, Tobagonian Creole English, Caribbean Hindustani (a dialect of Hindi), Trinidadian Creole French, Spanish, Chinese
Religions
Protestant 32.1% (Pentecostal/Evangelical/Full Gospel 12%, Baptist 6.9%, Anglican 5.7%, Seventh-Day Adventist 4.1%, Presbyterian/Congregational 2.5%, other Protestant 0.9%), Roman Catholic 21.6%, Hindu 18.2%, Muslim 5%, Jehovah's Witness 1.5%, other 8.4%,
Total population
| 1990 | 2000 | 2010 | 2015 | 2020* |
| 1.22 million | 1.27 million | 1.33 million | 1.36 million | 1.39 million |
*Estimate
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Urban population as % of total population
| 1960 | 1980 | 2000 | 2018 |
| 34.2% | 52.3% | 55.9% | 53.2% |
Literacy
Total population: 99%
Male: 99.2%
Female: 98.7%
Definition: age 15 and over can read and write (2015 est.)
Freedom House rating
Free
Political Rights: 2
Civil Liberties: 2 (2019)
(1 represents the most free, 7 the least free rating)
Source
Total telephone subscribers as % of population
Fixed: 23.1%
Mobile: 140.1%
(2018)
(fixed-telephone subscribers and mobile-cellular subscribers)