Trinidad and Tobago - Economy
How is the economy of Trinidad and Tobago? Based on the information we have, Trinidad and Tobago has a high-income Caribbean economy; major hydrocarbon exporter; key tourism and finance sectors; high inflation and growing public debt; long foreign currency access delays; large foreign reserves and sovereign wealth fund. Key agricultural products in this country include: chicken, fruits, coconuts, citrus fruits, maize, oranges, plantains, eggs, taro, mangoes/guavas (2023).
More about the economy of Trinidad and Tobago
Labor force 649,900 (2024 est.)
Industrial production growth rate -4.7% (2023 est.)
Industries petroleum and petroleum products, liquefied natural gas, methanol, ammonia, urea, steel products, beverages, food processing, cement, cotton textiles
Population below poverty line
Taxes and other revenues 16.7% (of GDP) (2019 est.)
Fiscal year
Exchange rates
Currency Trinidad and Tobago dollars (TTD) per US dollar -
Exchange rates 2024 6.75 (2024 est.)
Exchange rates 2023 6.75 (2023 est.)
Exchange rates 2022 6.754 (2022 est.)
Exchange rates 2021 6.759 (2021 est.)
Exchange rates 2020 6.751 (2020 est.)
Reserves of foreign exchange and gold
Reserves of foreign exchange and gold 2024 $5.601 billion (2024 est.)
Reserves of foreign exchange and gold 2023 $6.256 billion (2023 est.)
Reserves of foreign exchange and gold 2022 $6.832 billion (2022 est.)
Current account balance
Current account balance 2024 $1.117 billion (2024 est.)
Current account balance 2023 $2.948 billion (2023 est.)
Current account balance 2022 $4.967 billion (2022 est.)
Public debt
Public debt 2016 37% of GDP (2016 est.)
Budget
Revenues $5.698 billion (2019 est.)
Expenditures $7.822 billion (2019 est.)
Budget surplus (+) or deficit (-)
Remittances
Remittances 2024 0.8% of GDP (2024 est.)
Remittances 2023 0.8% of GDP (2023 est.)
Remittances 2022 0.7% of GDP (2022 est.)
Imports
Imports 2024 $10.19 billion (2024 est.)
Imports 2023 $9.219 billion (2023 est.)
Imports 2022 $10.968 billion (2022 est.)
Imports (partners) USA 29%, Guyana 27%, China 8%, Brazil 4%, Canada 3% (2023)
Comodities Imports force railway cargo containers, refined petroleum, cars, iron ore, excavation machinery (2023)
Exports
Imports 2024 $10.19 billion (2024 est.)
Imports 2023 $9.219 billion (2023 est.)
Imports 2022 $10.968 billion (2022 est.)
Exports (partners) USA 28%, China 7%, Guyana 5%, Chile 5%, Netherlands 5% (2023)
Comodities Exports force natural gas, alcohols, ammonia, crude petroleum, iron reductions (2023)
Real GDP (purchasing power parity)
Real GDP (purchasing power parity) 2024 $43.362 billion (2024 est.)
Real GDP (purchasing power parity) 2023 $42.658 billion (2023 est.)
Real GDP (purchasing power parity) 2022 $42.058 billion (2022 est.)
GDP (official exchange rate) $26.429 billion (2024 est.)
Real GDP Per capita
Real GDP per capita 2024 $31,700 (2024 est.)
Real GDP per capita 2023 $31,200 (2023 est.)
Real GDP per capita 2022 $30,800 (2022 est.)
GDP - composition, by sector of origin
Agriculture 0.8% (2023 est.)
Industry 35% (2023 est.)
Services 59.9% (2023 est.)
GDP - composition, by end use
Household consumption 78.9% (2017 est.)
Government consumption 16.4% (2017 est.)
Investment in fixed capital 19.8% (2021 est.)
Investment in inventories 0% (2021 est.)
Exports of goods and services 45.4% (2017 est.)
Imports of goods and services -48.7% (2017 est.)
Unemployment rate
Unemployment rate 2024 4.6% (2024 est.)
Unemployment rate 2023 4.3% (2023 est.)
Unemployment rate 2022 4.4% (2022 est.)
Youth unemployment rate (ages 15-24)
Total 11.1% (2024 est.)
Male 10.3% (2024 est.)
Female 12% (2024 est.)
All Important Facts about Trinidad and Tobago

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Trinidad and Tobago is found in Caribbean