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Indicators of economy in Trinidad and Tobago

The essential economic performance of a country is reflected by the gross domestic product. So the total of all goods and services sold. Worldwide gross domestic product in 2020 was at about 10.915 US Dollar per capita. In contrast, the GDP in Trinidad and Tobago reached 15.426 US dollars per inhabitant, or 21.59 bn US Dollar in the whole country. Trinidad and Tobago is one of the smaller economies and is currently ranked 111. If this is calculated per inhabitant taking into account the purchasing power parity, then Trinidad and Tobago is in the list of the world's richest countries in place 60.

Inflation in Trinidad and Tobago was in 2020 at around 0.60%. Within the EU, the average in the same year was 2.62%. In the United States, it was most recently 4.70%.

Compared with the USA, prices for daily consumer goods are around 39.7% lower.
The Corruption Perceptions Index for the public sector counts 67 and is compared to other countries moderate.


Back to overview: Trinidad and Tobago

Impact of the Covid-19 pandemic in 2020

The consequences of the Covid pandemic were not insignificant in Trinidad and Tobago 2020. Overall, gross domestic product in 2020 fell from 23.21 billion US Dollar auf 21.59 billion US Dollar. With a drop of 7.0 percent, the economy in Trinidad and Tobago suffered more significant losses than other countries.. The tourism sector alone slumped by around 69 percent. The unemployment rate rose from 3.4 to 4.6 percent. The inflation rate has fallen from 1.0 percent previously to 0.6 percent by the end of 2020.

Unemployment rates in percent 1991 - 2021

Economic performance 2020

 Trinidad and Tobago
Total
Trinidad and Tobago
per capita
EU
Total
EU
per capita
GDP21.59 bn USD15,425.64 USD15,291.93 tn USD29,692.11 USD
Gross national product21.58 bn USD15,417.42 USD15,330.84 tn USD29,767.66 USD


Development of the Gross domestic product in billion US Dollar 1960 - 2020



Im- and Exports 2020

 Trinidad and Tobago
Total
Trinidad and Tobago
per capita
EU
Total
EU
per capita
Imports6.58 bn USD4,703.21 USD7,340.01 bn USD14,251.98 USD
Exports6.39 bn USD4,568.39 USD7,939.04 bn USD15,415.11 USD


Development of imports and exports in billion US dollars 1975 - 2020

Exports
Imports



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