Trinidad and Tobago: Services, value added (annual % growth)

Key figures

What the numbers say

In 2024, Trinidad and Tobago's services, value added (annual % growth) fell 3.22 percentage points on 2023 (from 3.59% to 0.37%).

Across the 30 yearly changes before that (1994 to 2023), the average change was +0.04 percentage points and a typical year strayed about 9.44 percentage points from that (the standard deviation). This year's change was 0.3 standard deviations below that average, so it was an ordinary year: it sits within the range of normal year-to-year movement.

On record, the biggest yearly rise was 23.43 percentage points in 2010 and the biggest yearly fall was 19.53 percentage points in 2009. The numbers show how large and when, not why; for the cause, look at what happened in that country in those years.

From 2015 to 2024 there is no clear straight-line trend: a straight line explains 27% of the movement over 10 observed years, so the value is moving around more than it is heading anywhere.

Worked out from the yearly values above. How the checks work: standard deviation, z-scores and straight-line trends.

How it compares

In 2024, Trinidad and Tobago had the 23rd highest value of the 26 economies reporting that year. Higher is not always better: for some indicators the lowest value is the one to aim for. See the full ranking.

Closest to Trinidad and Tobago in the 2024 ranking

• Bolivia — 19th of 26: 0.89%
• Japan — 20th of 26: 0.88%
• Afghanistan — 21st of 26: 0.51%
• Cuba — 23rd of 26: -0.05%
• New Zealand — 24th of 26: -0.11%
• Marshall Islands — 25th of 26: -3.93%

What this measures

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 denotes the percentage change over each previous year of the constant price (base year 2015) series in United States dollars.

Limitations: In the services industries, including most of government, value added in constant prices is often imputed from labor inputs, such as real wages or number of employees. In the absence of well defined measures of output, measuring the growth of services remains difficult.

Regional and income-group figures are computed by the World Bank as a weighted average.

All 40 values

Services, value added (annual % growth) in nearby economies

• Antigua and Barbuda — 4.04% (2025)
• Argentina — 3.73% (2025)
• Aruba — 6.01% (2023)
• Bahamas, The — 2.04% (2024)
• Barbados — 3.44% (2024)
• Belize — 2.93% (2025)
• Bolivia — 0.89% (2024)
• Brazil — 1.82% (2025)
• Cayman Islands — 3.93% (2024)
• Chile — 3.18% (2025)
• Colombia

More economic policy & debt data for Trinidad and Tobago

• Total reserves, including gold (current US$) — US$5.37 billion (2025)
• Total reserves, excluding gold (current US$) — US$5.1 billion (2025)
• GDP (current US$) — US$25.94 billion (2025)
• GDP (current LCU) — 175.08 billion (2025)
• GDP (constant 2015 US$) — US$22.15 billion (2025)
• GDP (constant LCU) — 153.7 billion (2025)
• GDP per capita (current US$) — US$18,967 (2025)
• GDP per capita (current LCU) — 128,006 (2025)
• GDP per capita (constant 2015 US$) — US$16,191 (2025)
• GDP per capita (constant LCU)

Reading data like this

• Where to find free public data, and how to check it before you trust it — 2 min read
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Questions people ask

What is Trinidad and Tobago's services, value added (annual % growth)?

0.37% in 2024, according to the World Bank (World Development Indicators).

How has it changed since 1985?

It is up 3.11 percentage points from -2.75% in 1985. The highest value was 15.59% in 2004 and the lowest -12.63% in 2009.

How does Trinidad and Tobago rank?

23rd highest of 26 economies with data for 2024.

Is the latest change in services, value added (annual % growth) unusual for Trinidad and Tobago?

In 2024, Trinidad and Tobago's services, value added (annual % growth) fell 3.22 percentage points on 2023 (from 3.59% to 0.37%). Across the 30 yearly changes before that (1994 to 2023), the average change was +0.04 percentage points and a typical year strayed about 9.44 percentage points from that (the standard deviation). This year's change was 0.3 standard deviations below that average, so it was an ordinary year: it sits within the range of normal year-to-year movement.

Source

World Bank, World Development Indicators, indicator NV.SRV.TOTL.KD.ZG, licensed CC BY 4.0. Original source: Country official statistics, National Statistical Offices (NSOs); National Accounts data files, Central Banks; Staff estimates, World Bank (WB) Figures are fetched from the World Bank API and refreshed monthly; see the series on data.worldbank.org. The full definition and method are in the World Bank's metadata glossary. Comparisons use the same World Bank release.

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