Annual GDP Indicators
|GDP at current prices (TT$ Millions)||175,750.4||184,967.0||190,335.2||172,361.5||158,205.8||162,981.2||166,352.3||160,588.6||140,474.0||165,559.6||202,984.9|
|GDP at constant 2012 prices (TT$ Millions)||175,750.7||181,957.8||188,969.8||187,500.6||173,387.2||165,063.2||164,068.7||164,661.5||149,713.7||148,160.5||150,356.6|
|Constant price growth rate (%)||3.5%||3.9%||-0.8%||-7.5%||-4.8%||-0.6%||0.4%||-9.1%||-1.0%||1.5%|
|Implied deflators (2012=100)||100.0||101.7||100.7||91.9||91.2||98.7||101.4||97.5||93.8||111.7||135|
|GDP per capita (TT$ Millions)||131,365.6||137,732.1||141,250.3||127,507.2||116,734.3||120,023.4||122,175.3||117,616.8||102,750.2||121,139.9||148,714.5|
|Source: Central Statistical Office, October 2021|
What are the uses of national account statistics?
- International comparison of economic data
- Economic policy planning
- Monitoring domestic economic conditions
- Forecasting and simulation
- Market research and decision making
GDP at Current Prices
Gross domestic product (GDP) at current prices is GDP at prices of the current reporting period. Also known as nominal GDP.
GDP at Constant Prices
Constant price estimates of GDP are obtained by expressing values in terms of a base period. i.e. the price in the base period is substituted for that in the current period
Base Period is the reference point in time (year) for which data is used as a benchmark and with which the values from other years are compared. The index value of the base year is conventionally set to equal 100.
The Annual Constant (2012) Price GDP increased by TT$2,196.1 million, or 1.5% from TT$148,160.5 million in 2021 to TT$150,356.6 million in 2022.
In current price terms, that is prices observed in the economy in 2022, the year-on-year growth rate (2022 over 2021) was 22.6%.
(August 30, 2023)
Quarterly Gross Domestic Product (QGDP) at Constant (2012) Prices
Quarterly Gross Domestic Product (QGDP) at Current Prices
Annual Gross Domestic Product (GDP) at Constant (2012) Prices
Annual Gross Domestic Product (GDP) at Current Prices
Keywords: gross domestic product, GDP, value-added, national accounts, growth rate, industries, sector, statistics
Methodology and Usefulness
Using Official Statistics for SDGs
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