The economy of Trinidad and Tobago shrank 1.9 percent year-on-year in the third quarter of 2018, following a 3.0 percent expansion in the previous period. Activity contracted in both the energy sector (-3.8 percent from 8.8 percent in Q2) and in the non-energy sector (-0.9 percent from -0.1 percent). Within the non-energy sector, declines were recorded in manufacturing (-0.2 percent); utilities (-0.9 percent); construction (-6.4 percent); finance (-0.7 percent) and transportation (-1.6 percent). GDP Annual Growth Rate in Trinidad and Tobago averaged 2.96 percent from 1991 until 2018, reaching an all time high of 20.60 percent in the second quarter of 2003 and a record low of -11.90 percent in the third quarter of 2016.
GDP Annual Growth Rate in Trinidad and Tobago is expected to be -0.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Annual Growth Rate in Trinidad and Tobago to stand at 0.60 in 12 months time. In the long-term, the Trinidad and Tobago GDP Annual Growth Rate is projected to trend around 2.00 percent in 2020, according to our econometric models.