Trinidad and Tobago | GDP (current US$)

GDP at purchaser's prices is the sum of gross value added by all resident producers in the economy plus any product taxes and minus any subsidies not included in the value of the products. It is calculated without making deductions for depreciation of fabricated assets or for depletion and degradation of natural resources. Data are in current U.S. dollars. Dollar figures for GDP are converted from domestic currencies using single year official exchange rates. For a few countries where the official exchange rate does not reflect the rate effectively applied to actual foreign exchange transactions, an alternative conversion factor is used. Limitations and exceptions: Gross domestic product (GDP), though widely tracked, may not always be the most relevant summary of aggregated economic performance for all economies, especially when production occurs at the expense of consuming capital stock. While GDP estimates based on the production approach are generally more reliable than estimates compiled from the income or expenditure side, different countries use different definitions, methods, and reporting standards. World Bank staff review the quality of national accounts data and sometimes make adjustments to improve consistency with international guidelines. Nevertheless, significant discrepancies remain between international standards and actual practice. Many statistical offices, especially those in developing countries, face severe limitations in the resources, time, training, and budgets required to produce reliable and comprehensive series of national accounts statistics. Among the difficulties faced by compilers of national accounts is the extent of unreported economic activity in the informal or secondary economy. In developing countries a large share of agricultural output is either not exchanged (because it is consumed within the household) or not exchanged for money. Statistical concept and methodology: Gross domestic product (GDP) represents the sum of value added by all its producers. Value added is the value of the gross output of producers less the value of intermediate goods and services consumed in production, before accounting for consumption of fixed capital in production. The United Nations System of National Accounts calls for value added to be valued at either basic prices (excluding net taxes on products) or producer prices (including net taxes on products paid by producers but excluding sales or value added taxes). Both valuations exclude transport charges that are invoiced separately by producers. Total GDP is measured at purchaser prices. Value added by industry is normally measured at basic prices.
Publisher
The World Bank
Origin
Republic of Trinidad and Tobago
Records
63
Source
Trinidad and Tobago | GDP (current US$)
1960 535670127.74893
1961 584961208.65659
1962 619319197.34002
1963 678235373.03856
1964 711893367.55527
1965 736568861.92615
1966 723735635.53637
1967 761981474.02336
1968 758899950
1969 779200000
1970 821850000
1971 896754316.67426
1972 1083381044.0847
1973 1308799458.9628
1974 2042031901.4222
1975 2442667573.0482
1976 2500410583.7918
1977 3138666666.6667
1978 3562333458.3333
1979 4602416625
1980 6235833333.3333
1981 6992083333.3333
1982 8140416666.6667
1983 7763750000
1984 7757083333.3333
1985 7375918367.3469
1986 4794444444.4444
1987 4797777777.7778
1988 4496852073.469
1989 4323058823.5294
1990 5068000000
1991 5307905882.3529
1992 5439552941.1765
1993 4669488516.3798
1994 4947205860.0145
1995 5329214163.22
1996 5759537726.266
1997 5737751331.6378
1998 6043694330.2161
1999 6808982520.7576
2000 8154338232.9598
2001 8824873259.3211
2002 9008273720.934
2003 11305459802.068
2004 13280275123.035
2005 15982282462.379
2006 18369361094.389
2007 21641620049.935
2008 27871587349.541
2009 19172165225.501
2010 22157948396.204
2011 25433011405.302
2012 27334581560.284
2013 28709988700.214
2014 29699968760.728
2015 27026080986.578
2016 23713671528.142
2017 24040299977.875
2018 24569079488.391
2019 23775754304.665
2020 20807571314.304
2021 24496505940.667
2022 30053575132.142

Trinidad and Tobago | GDP (current US$)

GDP at purchaser's prices is the sum of gross value added by all resident producers in the economy plus any product taxes and minus any subsidies not included in the value of the products. It is calculated without making deductions for depreciation of fabricated assets or for depletion and degradation of natural resources. Data are in current U.S. dollars. Dollar figures for GDP are converted from domestic currencies using single year official exchange rates. For a few countries where the official exchange rate does not reflect the rate effectively applied to actual foreign exchange transactions, an alternative conversion factor is used. Limitations and exceptions: Gross domestic product (GDP), though widely tracked, may not always be the most relevant summary of aggregated economic performance for all economies, especially when production occurs at the expense of consuming capital stock. While GDP estimates based on the production approach are generally more reliable than estimates compiled from the income or expenditure side, different countries use different definitions, methods, and reporting standards. World Bank staff review the quality of national accounts data and sometimes make adjustments to improve consistency with international guidelines. Nevertheless, significant discrepancies remain between international standards and actual practice. Many statistical offices, especially those in developing countries, face severe limitations in the resources, time, training, and budgets required to produce reliable and comprehensive series of national accounts statistics. Among the difficulties faced by compilers of national accounts is the extent of unreported economic activity in the informal or secondary economy. In developing countries a large share of agricultural output is either not exchanged (because it is consumed within the household) or not exchanged for money. Statistical concept and methodology: Gross domestic product (GDP) represents the sum of value added by all its producers. Value added is the value of the gross output of producers less the value of intermediate goods and services consumed in production, before accounting for consumption of fixed capital in production. The United Nations System of National Accounts calls for value added to be valued at either basic prices (excluding net taxes on products) or producer prices (including net taxes on products paid by producers but excluding sales or value added taxes). Both valuations exclude transport charges that are invoiced separately by producers. Total GDP is measured at purchaser prices. Value added by industry is normally measured at basic prices.
Publisher
The World Bank
Origin
Republic of Trinidad and Tobago
Records
63
Source