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, plantains, maize, eggs, oranges, tomatoes, bananas (2022).
More about the economy of Trinidad and Tobago
Labor force 681,000 (2023 est.)
Industrial production growth rate 3.18% (2022 est.)
Industries petroleum and petroleum products, liquefied natural gas, methanol, ammonia, urea, steel products, beverages, food processing, cement, cotton textiles
Population below poverty line 20% (2014 est.)
Taxes and other revenues 16.55% (of GDP) (2019 est.)
Fiscal year
Exchange rates
Currency Trinidad and Tobago dollars (TTD) per US dollar -
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.)
Exchange rates 2019 6.754 (2019 est.)
Debt - external
Debt - external 31 December 2017 $8.238 billion (31 December 2017 est.)
Debt - external 31 December 2016 $8.746 billion (31 December 2016 est.)
Reserves of foreign exchange and gold
Reserves of foreign exchange and gold 2023 $6.256 billion (2023 est.)
Reserves of foreign exchange and gold 2022 $6.832 billion (2022 est.)
Reserves of foreign exchange and gold 2021 $6.88 billion (2021 est.)
Current account balance
Current account balance 2022 $5.382 billion (2022 est.)
Current account balance 2021 $2.695 billion (2021 est.)
Current account balance 2020 -$1.356 billion (2020 est.)
Public debt
Public debt 2017 41.8% of GDP (2017 est.)
Budget
Revenues $4.939 billion (2020 est.)
Expenditures $7.528 billion (2020 est.)
Budget surplus (+) or deficit (-)
Remittances
Remittances 2023 0.63% of GDP (2023 est.)
Remittances 2022 0.68% of GDP (2022 est.)
Remittances 2021 0.96% of GDP (2021 est.)
Imports
Imports 2022 $10.694 billion (2022 est.)
Imports 2021 $8.636 billion (2021 est.)
Imports 2020 $6.785 billion (2020 est.)
Imports (partners) US 40%, China 9%, Italy 7%, Brazil 4%, Canada 3% (2022)
Comodities Imports force refined petroleum, iron ore, cars, plastic products, excavation machinery (2022)
Exports
Imports 2022 $10.694 billion (2022 est.)
Imports 2021 $8.636 billion (2021 est.)
Imports 2020 $6.785 billion (2020 est.)
Exports (partners) US 35%, Belgium 6%, Morocco 5%, Spain 4%, Brazil 4% (2022)
Comodities Exports force ammonia, natural gas, crude petroleum, acyclic alcohols, fertilizers (2022)
Real GDP (purchasing power parity)
Real GDP (purchasing power parity) 2023 $43.681 billion (2023 est.)
Real GDP (purchasing power parity) 2022 $42.781 billion (2022 est.)
Real GDP (purchasing power parity) 2021 $42.157 billion (2021 est.)
GDP (official exchange rate) $28.14 billion (2023 est.)
Real GDP Per capita
Real GDP per capita 2023 $28,500 (2023 est.)
Real GDP per capita 2022 $27,900 (2022 est.)
Real GDP per capita 2021 $27,600 (2021 est.)
GDP - composition, by sector of origin
Agriculture 0.4% (2017 est.)
Industry 47.8% (2017 est.)
Services 51.7% (2017 est.)
GDP - composition, by end use
Household consumption 78.9% (2017 est.)
Government consumption 16.4% (2017 est.)
Investment in fixed capital 8.2% (2017 est.)
Investment in inventories 0.6% (2017 est.)
Exports of goods and services 45.4% (2017 est.)
Imports of goods and services -48.7% (2017 est.)
Unemployment rate
Unemployment rate 2023 4.21% (2023 est.)
Unemployment rate 2022 4.38% (2022 est.)
Unemployment rate 2021 4.45% (2021 est.)
Youth unemployment rate (ages 15-24)
Total 10.1% (2023 est.)
Male 9.4% (2023 est.)
Female 11.1% (2023 est.)
All Important Facts about Trinidad and Tobago

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Trinidad and Tobago is found in Caribbean