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ECON FACTBOOK

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Economy of Trinidad and Tobago

Population: 1.3 million in 20131

GDP: $25 billion in 20132

GDP per capita: $18,373 nominal3 ($30,439 PPP4) in 2013

GDP growth rate: 1.6% in 20135

Industries

GDP by Industry 20126

Industry sectorValue added ($ millions) 2012Percent of total
Mining and utilities6,37126.9%
Manufacturing5,71424.1%
Other activities5,13321.7%
Wholesale, retail trade, restaurants and hotels3,68115.6%
Construction1,3695.8%
Transport, storage and communication1,2945.5%
Agriculture, hunting, forestry, fishing1060.4%
Total value added23,667100%

Employment

Unemployment rate: 5.8% in 20137

Employment by Industry 20078

Employment sectorPercent of total
Services62.9%
Construction and utilities20.4%
Manufacturing, mining and quarrying12.8%
Agriculture3.8%
Total100%

Corporations

Top 10 Corporations by Revenue 20139

N/A

Households

Household Wealth: $15 billion (60% of GDP) in 201410

Household Wealth per Adult: $15,386 in 201410

Gini Coefficient: N/A

Government

Central Government

Central Government Revenue: $7.8 billion (31% of GDP) in 201311

Central Government Expenditure: $8.3 billion (33% of GDP) in 201311

Central Government Budget Balance: -$0.5 billion (-2% of GDP) in 201311

Central Government Public Debt: $11.0 billion (44% of GDP) in Sept 2014* 12

Central Government 10 Year Bond Interest Rate: 2.50% in Aug 201313

* Public debt calculated using the exchange rate 6.33 TTD = 1 USD

Government Funds

Heritage and Stabilization Fund: $5.1 billion (20% of GDP) in 201414

Tax Structure

Individual Income Tax Rates and Thresholds in 201415

Corporate Tax Rate: 25% in 201416

Monetary Policy

Money Supply (M0): $5.5 billion (22% of GDP) in Nov 2014* 17

Benchmark Interest Rate: Repo Rate = 3.50% in Jan 201518

Total Reserves: $10.0 billion (40% of GDP) in 201319

Exchange Rate: 6.33 Trinidadian Dollars = 1 U.S. Dollar on Feb 9, 201520

Inflation: 5.2% in 201321

* Money supply calculated using the exchange rate 6.33 TTD = 1 USD

Financial Institutions

Top 10 Financial Institutions by Assets 201322

N/A (data not available at Relbanks.com)

International Accounts

Exports: $12.9 billion (51% of GDP) in 201323

Imports: $9.6 billion (38% of GDP) in 201323

Trade Balance: +$3.3 billion (+13% of GDP) in 201323

Foreign Direct Investment Inflow: $1.7 billion (7% of GDP) in 201324

Foreign Direct Investment Outflow: N/A

Foreign Aid Inflow: N/A

Foreign Aid Outflow: N/A

References

1. Source: World Bank Indicators (Population) Go back
2. Source: World Bank Indicators (GDP) Go back
3. Source: World Bank Indicators (GDP per capita) Go back
4. Source: World Bank Indicators (GDP per capita PPP) Go back
5. Source: World Bank Indicators (GDP growth rate) Go back
6. Source: United Nations Statistics Division (GDP by industry) Go back
7. Source: World Bank Indicators (Unemployment rate) Go back
8. Source: CIA World Factbook (Employment by economic activity) Go back
9. Source: Annual reports (Corporate data) Go back
10. Source: Credit Suisse Global Wealth Databook (Household wealth) Go back
11. Source: CIA World Factbook (Government budget) Go back
12. Source: Central Bank of Trinidad & Tobago (Public debt) Go back
13. Source: Trinidad Express (Government bond yield) Go back
14. Source: ESADE Sovereign Wealth Funds (Government Funds) Go back
15. Source: PKF Worldwide Tax Guide (Individual tax rates) Go back
16. Source: Tax Foundation (Corporate tax rate) Go back
17. Source: Central Bank of Trinidad & Tobago (Money supply) Go back
18. Source: Central Bank of Trinidad & Tobago (Benchmark interest rate) Go back
19. Source: World Bank Indicators (Total reserves) Go back
20. Source: xe.com (Exchange rate) Go back
21. Source: World Bank Indicators (Inflation rate) Go back
22. Source: Relbanks.com (Financial institutions by assets) Go back
23. Source: CIA World Factbook (Trade data) Go back
24. Source: World Bank Indicators (FDI data) Go back