Taxes on income vs. taxes on goods and services in Trinidad and Tobago
Trinidad and Tobago: Taxes on income vs. taxes on goods and services was 4.7% in 2023. ▬ Flat
Latest (2023)
4.7%
Change on year
up 44.9%
World rank
137th
of 187 countries
All-time high
8.8%
in 1998
All-time low
2.6%
in 1983
Years of data
29
1983–2023
Taxes on income vs. taxes on goods and services in Trinidad and Tobago, 1983–2023
Source: UNU-WIDER Government Revenue Dataset (2025) – with major processing by Our World in Data. Measured in % of GDP.
Analysis
Trinidad and Tobago recorded 4.7% for taxes on income vs. taxes on goods and services in 2023.
The figure is up 44.9% on the previous year and down 10.7% over ten years.
Over the whole period, taxes on income vs. taxes on goods and services in Trinidad and Tobago peaked at 8.8% in 1998 and was at its lowest, 2.6%, in 1983.
That places Trinidad and Tobago 137th out of 187 countries with data for 2023, putting it in the middle of the range.
Taxes on income vs. taxes on goods and services in Trinidad and Tobago, year by year
| Year | % of GDP | Change |
|---|---|---|
| 1983 | 2.6% | — |
| 1984 | 3.0% | +14.7% |
| 1985 | 3.5% | +14.9% |
| 1986 | 3.4% | -2.7% |
| 1987 | 4.3% | +27.5% |
| 1988 | 5.0% | +15.5% |
| 1989 | 5.2% | +4.8% |
| 1990 | 7.2% | +38.4% |
| 1991 | 7.0% | -3.5% |
| 1992 | 7.5% | +7.7% |
| 1993 | 8.5% | +12.8% |
| 1994 | 7.0% | -17.4% |
| 1995 | 6.7% | -4.0% |
| 1996 | 6.7% | +0.2% |
| 1997 | 7.5% | +11.4% |
| 1998 | 8.8% | +17.9% |
| 1999 | 7.4% | -16.9% |
| 2000 | 6.0% | -18.6% |
| 2001 | 6.1% | +2.4% |
| 2002 | 6.7% | +8.9% |
| 2003 | 4.9% | -26.4% |
| 2004 | 5.2% | +6.4% |
| 2005 | 4.5% | -14.8% |
| 2018 | 5.2% | +17.8% |
| 2019 | 4.6% | -13.3% |
| 2020 | 5.7% | +25.4% |
| 2021 | 5.8% | +2.4% |
| 2022 | 3.2% | -44.7% |
| 2023 | 4.7% | +44.9% |
Trinidad and Tobago compared with similar countries
- Trinidad and Tobago's 4.7% is below the median for high income countries, which is 10.3%, 45% of the median. (63 countries reporting)
- Trinidad and Tobago's 4.7% is below the median for Latin America & Caribbean, which is 8.4%, 56% of the median. (33 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1980s | 3.9% | 2.6% | 5.2% | 7 |
| 1990s | 7.4% | 6.7% | 8.8% | 10 |
| 2000s | 5.6% | 4.5% | 6.7% | 6 |
| 2010s | 4.9% | 4.6% | 5.2% | 2 |
| 2020s | 4.9% | 3.2% | 5.8% | 4 |
Countries ranked near Trinidad and Tobago
- 134 Tanzania, United Republic of 4.7% compare
- 135 Papua New Guinea 4.7% compare
- 136 Mauritania 4.7% compare
- 138 Eritrea 4.7% compare
- 139 Algeria 4.5% compare
- 140 Saint Lucia 4.4% compare
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)
- Foreign direct investment, net outflows (BoP, current US$), gaps -390.11 million BoP, current US$ (2025)
- Foreign direct investment, net outflows (BoP, current US$), per unit -0.015 BoP, current US$ per US$ of GDP (2025)
- Foreign direct investment, net outflows (BoP, current US$), per capita -285.22 BoP, current US$ per person (2025)
- Foreign direct investment, net inflows (BoP, current US$), gaps filled -794.39 million BoP, current US$ (2025)
- Foreign direct investment, net inflows (BoP, current US$), annual -75.3 % change on previous year (2025)
- Foreign direct investment, net inflows (BoP, current US$), per unit -0.0306 BoP, current US$ per US$ of GDP (2025)
- Foreign direct investment, net inflows (BoP, current US$), per capita -580.8 BoP, current US$ per person (2025)
- Total reserves (includes gold, current US$), annual growth rate -10.46 % change on previous year (2024)
Frequently asked questions
- What is taxes on income vs. taxes on goods and services in Trinidad and Tobago?
- Taxes on income vs. taxes on goods and services in Trinidad and Tobago was 4.7% in 2023, according to UNU-WIDER Government Revenue Dataset (2025) – with major processing by Our World in Data.
- What is the highest taxes on income vs. taxes on goods and services recorded in Trinidad and Tobago?
- The highest recorded value was 8.8% in 1998.
- What is the lowest taxes on income vs. taxes on goods and services recorded in Trinidad and Tobago?
- The lowest recorded value was 2.6% in 1983.
- How does Trinidad and Tobago rank for taxes on income vs. taxes on goods and services?
- Trinidad and Tobago ranks 137th out of 187 countries with data for 2023.
- Is taxes on income vs. taxes on goods and services rising or falling in Trinidad and Tobago?
- Over the last ten years it is down 10.7%. The long-run trend across the full record is flat.
- Where does this Trinidad and Tobago data come from?
- The figures come from UNU-WIDER Government Revenue Dataset (2025) – with major processing by Our World in Data, published as part of Taxes on income vs. taxes on goods and services. Statizoid updates them automatically from the source API.
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About this data
Total taxes on income (individual and corporate) vs. total taxes on goods and services (including VAT and sales taxes), as a share of GDP.