Services, value added in Trinidad and Tobago
Trinidad and Tobago: Services, value added was 59.2% in 2024. ▲ Rising
Services, value added in Trinidad and Tobago, 1966–2024
Source: Country official statistics, National Statistical Offices (NSOs). Measured in % of GDP.
Analysis
In 2024, services, value added in Trinidad and Tobago stood at 59.2%.
That represents a change of down 1.9% on the previous year and up 12.5% over ten years.
Over the whole period, services, value added in Trinidad and Tobago peaked at 62.7% in 2020 and was at its lowest, 35.2%, in 2008.
That places Trinidad and Tobago 94th out of 206 countries with data for 2024, putting it in the middle of the range.
The long-run direction has been consistently rising across the 59 years of available data.
Services, value added in Trinidad and Tobago, year by year
| Year | % of GDP | Change |
|---|---|---|
| 1966 | 55.3% | — |
| 1967 | 53.5% | -3.3% |
| 1968 | 51.5% | -3.8% |
| 1969 | 53.9% | +4.7% |
| 1970 | 54.8% | +1.7% |
| 1971 | 54.9% | +0.3% |
| 1972 | 53.7% | -2.2% |
| 1973 | 50.7% | -5.6% |
| 1974 | 39.6% | -21.9% |
| 1975 | 40.1% | +1.2% |
| 1976 | 40.5% | +1.1% |
| 1977 | 42.3% | +4.4% |
| 1978 | 45.3% | +7.0% |
| 1979 | 44.2% | -2.3% |
| 1980 | 42.6% | -3.6% |
| 1981 | 46.2% | +8.4% |
| 1982 | 54.8% | +18.6% |
| 1983 | 55.5% | +1.4% |
| 1984 | 54.5% | -1.9% |
| 1985 | 55.9% | +2.6% |
| 1986 | 60.1% | +7.5% |
| 1987 | 57.3% | -4.6% |
| 1988 | 57.2% | -0.2% |
| 1989 | 54.2% | -5.3% |
| 1990 | 48.3% | -10.8% |
| 1991 | 51.0% | +5.7% |
| 1992 | 55.1% | +8.0% |
| 1993 | 54.5% | -1.1% |
| 1994 | 50.0% | -8.2% |
| 1995 | 51.1% | +2.1% |
| 1996 | 51.3% | +0.4% |
| 1997 | 54.4% | +6.1% |
| 1998 | 57.5% | +5.7% |
| 1999 | 56.8% | -1.2% |
| 2000 | 51.5% | -9.4% |
| 2001 | 53.4% | +3.7% |
| 2002 | 55.3% | +3.6% |
| 2003 | 47.7% | -13.7% |
| 2004 | 44.7% | -6.4% |
| 2005 | 39.7% | -11.1% |
| 2006 | 38.0% | -4.3% |
| 2007 | 39.5% | +3.8% |
| 2008 | 35.2% | -10.9% |
| 2009 | 46.5% | +32.3% |
| 2010 | 45.5% | -2.2% |
| 2011 | 43.0% | -5.5% |
| 2012 | 48.8% | +13.5% |
| 2013 | 50.7% | +3.8% |
| 2014 | 52.6% | +3.8% |
| 2015 | 58.5% | +11.2% |
| 2016 | 60.5% | +3.4% |
| 2017 | 59.2% | -2.1% |
| 2018 | 57.2% | -3.4% |
| 2019 | 60.3% | +5.4% |
| 2020 | 62.7% | +4.0% |
| 2021 | 54.9% | -12.5% |
| 2022 | 51.1% | -6.9% |
| 2023 | 60.3% | +18.1% |
| 2024 | 59.2% | -1.9% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1960s | 53.5% | 51.5% | 55.3% | 4 |
| 1970s | 46.6% | 39.6% | 54.9% | 10 |
| 1980s | 53.8% | 42.6% | 60.1% | 10 |
| 1990s | 53.0% | 48.3% | 57.5% | 10 |
| 2000s | 45.2% | 35.2% | 55.3% | 10 |
| 2010s | 53.6% | 43.0% | 60.5% | 10 |
| 2020s | 57.6% | 51.1% | 62.7% | 5 |
Countries ranked near Trinidad and Tobago
More economy & growth data for Trinidad and Tobago
- Africa's Development Dynamics (AfDD) Table 04 - Annual real GDP 2.73 Percent per annum (2029)
- Africa's Development Dynamics (AfDD) Table 02 - Annual real GDP 2.79 Percent per annum (2029)
- Total reserves minus gold (current US$), annual growth rate -11.24 % change on previous year (2024)
- Total reserves minus gold (current US$), per unit of GDP 0.2121 current US$ per US$ of GDP (2024)
- Total reserves minus gold (current US$), per capita 3,974 current US$ per person (2024)
- Gross fixed capital formation (current US$), annual growth rate -2.37 % change on previous year (2023)
- Gross fixed capital formation (current US$), per unit of GDP 0.1899 current US$ per US$ of GDP (2023)
- Gross fixed capital formation (current US$), per capita 3,476 current US$ per person (2023)
- Gross fixed capital formation (current LCU), per unit of GDP 1.28 current LCU per US$ of GDP (2023)
- Gross fixed capital formation (current LCU), per capita 23,464 current LCU per person (2023)
Frequently asked questions
- What is services, value added in Trinidad and Tobago?
- Services, value added in Trinidad and Tobago was 59.2% in 2024, according to Country official statistics, National Statistical Offices (NSOs).
- What is the highest services, value added recorded in Trinidad and Tobago?
- The highest recorded value was 62.7% in 2020.
- What is the lowest services, value added recorded in Trinidad and Tobago?
- The lowest recorded value was 35.2% in 2008.
- How does Trinidad and Tobago rank for services, value added?
- Trinidad and Tobago ranks 94th out of 206 countries with data for 2024.
- Is services, value added rising or falling in Trinidad and Tobago?
- Over the last ten years it is up 12.5%. The long-run trend across the full record is rising.
- Where does this Trinidad and Tobago data come from?
- The figures come from Country official statistics, National Statistical Offices (NSOs), published as part of Services, value added (% of GDP). Statizoid updates them automatically from the source API.
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About this data
Services industries correspond to ISIC (Rev. 4) divisions 45-99 and includes wholesale and retail trade, repair of motor vehicles, hotels and restaurants, transport, storage and communication, financial intermediation, real estate, renting and business activities, public administration and defence, compulsory social security, education, health and social work, other community, social and personal service activities, private households with employed persons, and extra-territorial organizations and bodies. Value added is the contribution to the economy by a producer or an industry or an institutional sector, which is estimated by the total value of output produced and deducting the total value of intermediate consumption of goods and services used to produce that output. This indicator is expressed as a percentage of Gross Domestic Product (GDP) which is the total income earned through the production of goods and services in an economic territory during an accounting period.