Worlddata.info

Indicators of economy in Trinidad and Tobago

The essential economic performance of a country is reflected by the gross domestic product, the total of all goods and services sold. Worldwide gross domestic product in 2021 was at about 12,230 USD per capita. GDP in Trinidad and Tobago, on the other hand, reached USD 16,033 per capita, or 24.46 billion USD for the whole country. Trinidad and Tobago is one of the smaller economies and is currently ranked 110. If this is calculated per inhabitant, taking purchasing power parity into account, then Trinidad and Tobago ranks 61st in the list of the richest countries.

Inflation in Trinidad and Tobago in 2021 was around 2.06%. Within the EU, the average in the same year was 2.55 percent. In the United States, it was most recently 4.70%.

Compared with the USA, prices for daily consumer goods are around 41.2 percent lower.
The index for perceived corruption in the public sector is 41, which is below average by global standards.


Back to overview: Trinidad and Tobago

Impact of the COVID-19 pandemic

The consequences of the COVID pandemic in 2020 were considerable in Trinidad and Tobago. Overall, gross domestic product in 2020 fell from 23.85 billion US dollars to 21.06 billion US dollars. With a large drop of 11.70 percent, the economy in Trinidad and Tobago has struggled significantly more 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 fell from 1.0 percent previously to 0.6 percent by the end of 2020.

Unemployment rates in percentages 1991 - 2021

Economic performance 2021

 Trinidad and Tobago
Total
Trinidad and Tobago
per capita
EU
Total
EU
per capita
GDP24.46 bn USD16,032.50 USD17.177 tn USD33,384.92 USD
Gross national product22.89 bn USD15,002.29 USD16.895 tn USD32,835.37 USD


Development of gross domestic product in billions of USD 1960 - 2021



Imports and Exports 2021

 Trinidad and Tobago
Total
Trinidad and Tobago
per capita
EU
Total
EU
per capita
Imports6.61 bn USD4,335.59 USD8.916 tn USD17,329.02 USD
Exports6.44 bn USD4,217.90 USD9.554 tn USD18,569.19 USD


Development of imports and exports in billions of USD 1975 - 2021

Exports
Imports



Trinidad and Tobago: AirportsLargest airports and airlines in Trinidad and TobagoThe 2 biggest airports and in Trinidad and Tobago with further information and data (Piarco Int'l. and Tobago-Crown Point)
Pariah StatesList of the 11 current Pariah States11 countries, that suffer from the sanctions of the international community because of their mostly autocratic government.
Alliance: ASEAN - Association of Southeast Asian NationsMembers of the ASEAN - Association of Southeast Asian NationsThe 10 members of the ASEAN trade agreement, listed with area and population (8.5% of world population)