Trinidad and Tobago: Services, value added (constant 2015 US$)

Key figures

What the numbers say

In 2024, Trinidad and Tobago's services, value added (constant 2015 US$) rose 0.4% on 2023 (from US$13.96 billion to US$14.02 billion).

Across the 30 yearly changes before that (1994 to 2023), the average change was +3.2% and a typical year strayed about 7.1% from that (the standard deviation). This year's change was 0.4 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 15.6% in 2004 and the biggest yearly fall was 12.6% 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 the straight-line trend is downward, about US$158.84 million a year. A straight line explains 36% of the movement over 10 observed years.

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 10th 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

• Macao SAR, China — 7th of 26: US$42.32 billion
• Lebanon — 8th of 26: US$25.14 billion
• Bolivia — 9th of 26: US$18.56 billion
• Papua New Guinea — 11th of 26: US$12.86 billion
• Bahamas, The — 12th of 26: US$10.48 billion
• Bermuda — 13th of 26: US$6.85 billion

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 defense, 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 in constant prices, meaning the series has been adjusted to account for price changes over time. The reference year for this adjustment is 2015. This indicator is expressed 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 gap-filled total.

All 41 values

Services, value added (constant 2015 US$) in nearby economies

• Antigua and Barbuda — US$1.23 billion (2025)
• Argentina — US$348.29 billion (2025)
• Aruba — US$2.48 billion (2023)
• Bahamas, The — US$10.48 billion (2024)
• Barbados — US$4.88 billion (2024)
• Belize — US$1.7 billion (2025)
• Bolivia — US$18.56 billion (2024)
• Brazil — US$1.31 trillion (2025)
• Cayman Islands — US$5.48 billion (2024)
• Chile — US$186.17 billion (2025)

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 (constant 2015 US$)?

US$14.02 billion in 2024, according to the World Bank (World Development Indicators).

How has it changed since 1984?

It is up 107.47% from US$6.76 billion in 1984 (1.84% a year on average, compounded). The highest value was US$16.17 billion in 2014 and the lowest US$5.17 billion in 1995.

How does Trinidad and Tobago rank?

10th highest of 26 economies with data for 2024.

Is the latest change in services, value added (constant 2015 US$) unusual for Trinidad and Tobago?

In 2024, Trinidad and Tobago's services, value added (constant 2015 US$) rose 0.4% on 2023 (from US$13.96 billion to US$14.02 billion). Across the 30 yearly changes before that (1994 to 2023), the average change was +3.2% and a typical year strayed about 7.1% from that (the standard deviation). This year's change was 0.4 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, 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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