Browse a full set of economic indicators

Trinidad and Tobago

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.

Basic Information

Government Type: Parliamentary republic

Capital City: Port of Spain

GDP & Economic Information

Macroeconomy & Sovereign Data

Central Bank Central Bank of Trinidad and Tobago
Currency Trinidad and Tobago dollars (TTD)
International Reserves USD 6.0 billion (2016)

International Monetary Fund (IMF), data retrieved October 2019
Gross Domestic Product – GDP USD 39.9 billion (2018, estimate)
GDP (Purchasing Power Parity) Intl$ 144.2 billion (2018, estimate)

GDP Data

Real GDP growth 2007 6.7%
2008 4.2%
2009 3%
2010 3.5%
2011 -1.9%
2012 4%
2013 2.9%
2014 3%
2015 1.2%
2016 1.1%
2017* 2%
2018* 2.5%

*Estimate
GDP per capita – current prices USD 3,423.2 (2018, estimate)
GDP per capita – PPP Intl$ 12,371.7 (2018, estimate)
GDP (PPP) – share of world total 1980 0.06%
1990 0.04%
2000 0.04%
2010 0.04%
2019* 0.11%
GDP – composition by sector agriculture: 9.5%
industry: 23.1%
services: 60.3%
(2017 estimate)
Gross domestic expenditure on R&D; (% of GDP) N/A
Inflation 2015 4.4%
2016 3.6%
2017 5.3%
2018* 7.3%
2019* 6.6%

*Estimate

Inflation & Debt

Inflation 2015 4.4%
2016 3.6%
2017 5.3%
2018* 7.3%
2019* 6.6%

*Estimate
Government Bond Ratings Standard & Poor’s: N/A

Moody’s: B2

Standard & Poor’s / Moody’s
Unemployment rate 2015 15.2%
2016 15.6%
2017 15.3%
2018* 15.4%
2019* N/A

*Estimate
Household saving rates N/A
Public debt (General government gross debt as a % of GDP) 2015 55.4%
2016 62.3%
2017 70.6%
2018* 77%
2019* 74.4%

*Estimate
Public deficit (General government net lending/borrowing as a % of GDP) 2015 -5.3%
2016 -6.2%
2017 -5.9%
2018* -4.6%
2019* -4.4%

*Estimate

Market value of publicly traded shares 2016 N/A
2017 N/A
2018 N/A
Largest Companies N/A

Import/Export

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)
Total exports USD 11.8 billion (2018 estimate)
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
Total imports USD 10.4 billion (2018 estimate)
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)

Competitiveness & Trade

Current account balance USD 1.6 billion (2018 estimate)
Current account balance by percentage of GDP 7.1 % (2018 estimate)
FDI inflows 2016 USD -24 million
2017 USD -456 million
2018 USD -436 million
FDI Outflows 2016 USD 83 million
2017 USD 94 million
2018 USD 155 million
Value of cross-border M&A, by country of purchaser 2015 N/A
2016 N/A
2017 N/A
2018 N/A
Cross-border M&A deals worth over $3 billion completed in 2014 N/A
Cross-border M&A deals worth over $3 billion completed in 2015 N/A
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
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)

Population & Geographic Data

Total Area 5,128 sq km
Total Population 1990 1.22 Million
2000 1.27 Million
2010 1.33 Million
2015 1.36 Million
2020 1.39 Million
Urban population as % of total population 1960 34.2%
1980 52.3%
2000 55.9%
2018 53.2%
Population median age 36.6 years
Population growth rate -0.23% (2018 estimate)
Life expectancy 73.4 years (2018 estimate)
% of population living on less than $3.10 a day N/A
Inequality of wealth distribution (Gini index) N/A
Freedom House rating Free
Political Rights: 2
Civil Liberties: 2 (2019)
(1 represents the most free, 7 the least free rating)
Total telephone subscribers as % of population
Fixed: 23.1%

Mobile: 140.1%

(2018)

(fixed-telephone subscribers and mobile-cellular subscribers)
Internet users as % of total population 77.33 % (2017)

Language & Religon

Languages English (official), Trinidadian Creole English, Tobagonian Creole English, Caribbean Hindustani (a dialect of Hindi), Trinidadian Creole French, Spanish, Chinese
Literacy Total population: 99%
Male: 99.2%
Female: 98.7%
Definition: age 15 and over can read and write (2015 est.)
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%,

World Rankings

Population 1.39 million
Mercer Cost of living index Port of Spain: 83rd (2019)
C02 Emissions per capita 33.97 metric tons per capita (2014)

Global Finance Rankings & Awards: Trinidad and Tobago

Global Finance Magazine holds several conferences and awards ceremonies throughout the year to recognize the winning financial institutions and companies in a host of categories including World’s Best Trade Finance Banks, World's Biggest Banks, World's Safest Banks, World's Best Developed & Emerging Markets Banks, World's Best Internet Banks, and World’s Best Investment Banks.


Data Sources:

IMF World Economic Outlook

UN World Population Prospects

World Inequality Report

S&P Global Ratings

Moody’s

Fitch Ratings

IMF Direction of Trade Statistics (DOTS)

UN Conference on Trade and Development (UNCTAD)

CIA The World Factbook

World Bank’s World Integrated Trade Solution

Forbes Global 2000

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