Trinidad and Tobago GDP Annual Growth Rate

The Gross Domestic Product (GDP) in Trinidad and Tobago contracted 0.50 percent in the third quarter of 2013 over the same quarter of the previous year. GDP Annual Growth Rate in Trinidad and Tobago is reported by the Central Bank of Trinidad and Tobago. From 2000 until 2013, Trinidad and Tobago GDP Annual Growth Rate averaged 1.0 Percent reaching an all time high of 7.3 Percent in September of 2002 and a record low of -4.6 Percent in March of 2009. 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. This page provides - Trinidad and Tobago GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. 2014-04-25

Actual Previous Highest Lowest Forecast Dates Unit Frequency
-0.50 -1.15 7.27 -4.56 -1.07 | 2014/06 2000 - 2013 Percent Quarterly

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Trinidad and Tobago GDP Annual Growth Rate
LIST BY COUNTRY

GDP Last Previous Highest Lowest Forecast Unit
GDP 23.99 2012-12-31 23.50 28.02 0.54 26.31 2014-06-30 USD Billion [+]
GDP Annual Growth Rate -0.50 2013-09-30 -1.15 7.27 -4.56 -1.07 2014-06-30 Percent [+]
GDP per capita 14004.05 2012-12-31 13877.09 15055.55 4452.62 13893.36 2014-06-30 USD [+]
GDP per capita PPP 22965.90 2012-12-31 22757.68 24690.30 10522.35 22784.37 2014-06-30 USD [+]
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GDP Annual Growth Rate | Notes
The annual growth rate in Gross Domestic Product measures the increase in value of the goods and services produced by an economy over the period of a year. Therefore, unlike the commonly used quarterly GDP growth rate the annual GDP growth rate takes into account a full year of economic activity, thus avoiding the need to make any type of seasonal adjustment.


RELATED NEWS

Trinidad and Tobago Current Account at 2247.50 USD Million  
Trinidad and Tobago recorded a Current Account surplus of 2247.50 USD Million in the third quarter of 2013. Current Account in Trinidad and Tobago is reported by the Central Statistics Office, Trinidad and Tobago.
Trinidad and Tobago Government Debt To GDP at 41.20 Percent  
Trinidad and Tobago recorded a Government Debt to GDP of 41.20 percent of the country's Gross Domestic Product in 2013. Government Debt To GDP in Trinidad and Tobago is reported by the Central Bank of Trinidad and Tobago.
Trinidad and Tobago Balance of Trade at 2549.20 USD Million  
Trinidad and Tobago recorded a trade surplus of 2549.20 USD Million in the third quarter of 2013. Balance of Trade in Trinidad and Tobago is reported by the Central Bank of Trinidad and Tobago.
Trinidad and Tobago Exports at 4243.70 USD Million  
Exports in Trinidad and Tobago increased to 4243.70 USD Million in the third quarter of 2013 from 3052.90 USD Million in the second quarter of 2013. Exports in Trinidad and Tobago is reported by the Central Bank of Trinidad and Tobago.
Trinidad and Tobago Imports at 1694.50 USD Million  
Imports in Trinidad and Tobago decreased to 1694.50 USD Million in the third quarter of 2013 from 1781 USD Million in the second quarter of 2013. Imports in Trinidad and Tobago is reported by the Central Bank of Trinidad and Tobago.
Trinidad and Tobago Government Budget at -2.60 Percent of GDP  
Trinidad and Tobago recorded a Government Budget deficit equal to 2.60 percent of the country's Gross Domestic Product in 2013. Government Budget in Trinidad and Tobago is reported by the Central Statistical Office, Trinidad and Tobago.
Trinidad and Tobago Current Account to GDP at 14.50 Percent  
Trinidad and Tobago recorded a Current Account surplus of 14.50 percent of the country's Gross Domestic Product in 2013. Current Account to GDP in Trinidad and Tobago is reported by the Central Bank of Trinidad and Tobago.
Trinidad and Tobago Inflation Rate at 3.90 Percent  
The inflation rate in Trinidad and Tobago was recorded at 3.90 percent in February of 2014. Inflation Rate in Trinidad and Tobago is reported by the Central Statistical Office, Trinidad and Tobago.
Trinidad and Tobago Interest Rate at 2.75 Percent  
The benchmark interest rate in Trinidad and Tobago was last recorded at 2.75 percent. Interest Rate in Trinidad and Tobago is reported by the Central Bank of Trinidad and Tobago.
Trinidad And Tobago Personal Income Tax Rate at 25.00 percent  
The Personal Income Tax Rate in Trinidad And Tobago stands at 25 percent. Personal Income Tax Rate in Trinidad And Tobago is reported by the Inland Revenue Division.
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