Trinidad and Tobago's GDP changed from approximately $6B 343M in 1980 to $28B 365M in 2024, showing an overall 347.2% sharply increased during the period.
The lowest GDP was recorded in 1989 at $4B 397M, and the highest in 2022 at $30B 53M.
Over the 44-year span, the GDP showed a overall increase with some decline trend, with an average annual growth rate of 3.5%.
For comparison, the average annual growth rate of Jamaica was 4.8%, and that of Barbados was 4.4%.
Trinidad and Tobago GDP from 1980 to 2024
The total market value of goods and services produced annually in Trinidad and Tobago.
Overview of Trinidad and Tobago's GDP (1980–2024)
The Gross Domestic Product (GDP) of Trinidad and Tobago recorded a 347.2% sharply increased from 1980 to 2024.
The average GDP during this period was $14B 767M, and the median was $9B 148M.
GDP fluctuated within a range of $25B 656M, with a standard deviation of $9B 463M.
The average annual change was $639M 457K.
Highest and Lowest GDP Records
- Lowest GDP: 1989, $4B 397M
- Highest GDP: 2022, $30B 53M
- Most Recent GDP: 2024, $28B 365M
Notable Annual GDP Changes
- 2008: Significant increase in GDP
- 2009: Noticeable drop in GDP
Overall pattern: overall increase with some decline
Global Economic Events and Trinidad and Tobago's GDP
COVID-19 Pandemic (2020)
- Period: From 2019 to 2020
- GDP Change: $23B 776M → $20B 808M
- Outcome: sharply declined
2008 Global Financial Crisis
- Period: From 2007 to 2009
- GDP Change: $21B 937M → $19B 520M
- Outcome: sharply declined
2001 Dot-com Bubble Burst
- Period: From 2000 to 2001
- GDP Change: $8B 295M → $8B 960M
- Outcome: increased
1998 Asian Financial Crisis
- Period: From 1997 to 1998
- GDP Change: $5B 837M → $6B 148M
- Outcome: increased
Key Economic Indicators of Trinidad and Tobago (1980–2024)
| year | GDP Growth | Nominal GDP | PPP GDP | GDP per Capita | PPP per Capita | Savings | Population | Current Account | Fiscal Balance |
|---|---|---|---|---|---|---|---|---|---|
1980 | 10.4 % | $ 6B 343M | $ 7B 566M | $ 5,847.71 | $ 6,975.03 | 35.71 % | 1M 85K people | 5.627 % | 0 % |
1981 | 4.577 % | $ 7B 113M | $ 8B 661M | $ 6,454.42 | $ 7,859.50 | 23.76 % | 1M 102K people | 5.829 % | 0 % |
1982 | 3.799 % | $ 8B 279M | $ 9B 546M | $ 7,393.15 | $ 8,522.74 | 16.92 % | 1M 120K people | -7.239 % | 0 % |
1983 | -10.3 % | $ 7B 898M | $ 8B 898M | $ 6,939.44 | $ 7,818.22 | 15.50 % | 1M 138K people | -11.986 % | 0 % |
1984 | -5.751 % | $ 7B 891M | $ 8B 689M | $ 6,831.22 | $ 7,522.11 | 17.68 % | 1M 155K people | -5.914 % | 0 % |
1985 | -4.119 % | $ 7B 503M | $ 8B 594M | $ 6,411.21 | $ 7,343.59 | 14.28 % | 1M 170K people | -0.638 % | 0 % |
1986 | -3.279 % | $ 4B 877M | $ 8B 480M | $ 4,121.17 | $ 7,165.66 | 8.65 % | 1M 183K people | -8.447 % | 0 % |
1987 | -4.562 % | $ 4B 880M | $ 8B 292M | $ 4,085.59 | $ 6,942.83 | 16.06 % | 1M 195K people | -4.61 % | 0 % |
1988 | -3.92 % | $ 4B 574M | $ 8B 249M | $ 3,798.75 | $ 6,850.78 | 14.76 % | 1M 204K people | -1.936 % | -3.936 % |
1989 | -0.83 % | $ 4B 397M | $ 8B 502M | $ 3,625.72 | $ 7,009.65 | 19.11 % | 1M 213K people | -0.876 % | 0.179 % |
1990 | 1.509 % | $ 5B 155M | $ 8B 953M | $ 4,221.81 | $ 7,331.77 | 20.91 % | 1M 221K people | 8.903 % | 3.12 % |
1991 | 3.112 % | $ 5B 399M | $ 9B 544M | $ 4,392.87 | $ 7,764.89 | 19.54 % | 1M 229K people | -0.086 % | 3.778 % |
1992 | 10.093 % | $ 5B 533M | $ 10B 747M | $ 4,474.14 | $ 8,689.85 | 21.59 % | 1M 237K people | 2.51 % | 2.176 % |
1993 | -0.669 % | $ 4B 656M | $ 10B 928M | $ 3,743.58 | $ 8,787.11 | 22.91 % | 1M 244K people | 2.429 % | 5.736 % |
1994 | 3.567 % | $ 5B 32M | $ 11B 559M | $ 4,027.42 | $ 9,250.85 | 22.39 % | 1M 250K people | 4.328 % | 5.036 % |
1995 | 3.81 % | $ 5B 421M | $ 12B 251M | $ 4,322.26 | $ 9,768.10 | 23.01 % | 1M 254K people | 5.42 % | 4.738 % |
1996 | 7.134 % | $ 5B 859M | $ 13B 366M | $ 4,658.87 | $ 10,628.24 | 21.32 % | 1M 258K people | 1.795 % | 3.915 % |
1997 | 7.523 % | $ 5B 837M | $ 14B 619M | $ 4,632.81 | $ 11,603.70 | 24.22 % | 1M 260K people | -10.513 % | 4.279 % |
1998 | 8.125 % | $ 6B 148M | $ 15B 984M | $ 4,872.62 | $ 12,668.76 | 25.42 % | 1M 262K people | -10.468 % | 2.696 % |
1999 | 8.025 % | $ 6B 926M | $ 17B 511M | $ 5,479.93 | $ 13,854.59 | 26.46 % | 1M 264K people | 0.442 % | 2.704 % |