The economy of Trinidad and Tobago shrank 1 percent year-on-year in the first quarter of 2019, following a 2.1 percent contraction in the previous period. Output dropped less in the non-energy sector (-0.4 percent from -1.8 percent in Q4) and the energy sector (-1.9 percent from -2.5 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. This page provides - Trinidad and Tobago GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. source: Central Bank of Trinidad and Tobago

GDP Annual Growth Rate in Trinidad and Tobago is expected to be 0.60 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 0.80 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.

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Trinidad and Tobago GDP Annual Growth Rate

Actual Previous Highest Lowest Dates Unit Frequency
-1.00 -2.10 20.60 -11.90 1991 - 2019 percent Quarterly

Trinidad and Tobago GDP Annual Growth Rate
Trinidad and Tobago is one of the richest countries in the Caribbean. The most important sector of the economy is oil and gas production which accounts for around 40 percent of GDP, but employs only 5 percent of the labour force. Trinidad and Tobago is also a major producer of ammonia and methanol. In recent years, services like finance and tourism have been rapidly expanding as the government is trying to diversify the economy. Yet, corruption, poor infrastructure and drug related crime are the major obstacles to growth in the private sector and tourism.

Trinidad and Tobago GDP Last Previous Highest Lowest Unit
GDP Annual Growth Rate -1.00 -2.10 20.60 -11.90 percent [+]
GDP 23.41 22.25 27.87 0.54 USD Billion [+]
GDP per capita 15288.90 15246.10 17064.50 4006.70 USD [+]
GDP per capita PPP 28647.10 28566.80 31974.00 10911.90 USD [+]
GDP Growth Rate -1.50 2.50 7.30 -4.60 percent [+]