GDP in Trinidad and Tobago
Trinidad and Tobago - GDPAfter likely tepid growth in 2021, the economy should be gaining speed this year. The progressive rollback of Covid-19 restrictions—most recently by scrapping the travel pass for visitors from June—should be aiding tourist arrivals and services activity more broadly. Moreover, higher prices for key exports such as oil, gas and fertilizer will be buoying government coffers. Less positively, available data shows that year-on-year production in volume terms of gas, methanol and ammonia has declined so far in 2022. Moreover, higher global price pressures in the wake of the war in Ukraine could be capping private spending. In May, the government published its mid-year budget review, where they proposed USD 3 billion in extra spending for this year, including USD 1.6 billion for VAT refunds and USD 0.8 billion for fuel subsidies. Greater government spending will boost demand ahead.
Trinidad & Tobago - GDP Data
|Economic Growth (GDP, annual variation in %)||1.8||-6.3||-2.3||-0.2||-|
5 years of economic forecasts for more than 30 economic indicators.
Trinidad & Tobago Facts
|Exchange Rate||6.76||0.39 %||Jan 01|
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