Tax revenue in Trinidad and Tobago
Trinidad and Tobago: Tax revenue was 16.8% in 2019. ▼ Falling
Tax revenue in Trinidad and Tobago, 1976–2019
Source: Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF). Measured in % of GDP.
Analysis
The most recent figure for tax revenue in Trinidad and Tobago is 16.8%, measured in 2019. That is the lowest value across all 25 years on record.
The figure is down 15.7% on the previous year and down 37.5% over ten years.
Over the whole period, tax revenue in Trinidad and Tobago peaked at 35.7% in 1980 and was at its lowest, 16.8%, in 2019.
Trinidad and Tobago ranks 80th of 157 countries on this measure, in the middle of the range.
The long-run direction has been consistently falling across the 25 years of available data.
Tax revenue in Trinidad and Tobago, year by year
| Year | % of GDP | Change |
|---|---|---|
| 1976 | 29.6% | — |
| 1977 | 32.6% | +10.2% |
| 1978 | 28.7% | -11.9% |
| 1979 | 29.2% | +1.5% |
| 1980 | 35.7% | +22.2% |
| 1981 | 34.8% | -2.3% |
| 2001 | 22.1% | -36.5% |
| 2002 | 20.5% | -7.5% |
| 2003 | 21.3% | +4.1% |
| 2004 | 22.0% | +3.4% |
| 2005 | 26.4% | +19.8% |
| 2006 | 30.3% | +14.7% |
| 2007 | 26.0% | -14.1% |
| 2008 | 29.5% | +13.4% |
| 2009 | 26.8% | -9.0% |
| 2010 | 26.2% | -2.2% |
| 2011 | 25.6% | -2.3% |
| 2012 | 25.0% | -2.7% |
| 2013 | 24.3% | -2.8% |
| 2014 | 25.0% | +3.2% |
| 2015 | 24.7% | -1.3% |
| 2016 | 21.4% | -13.4% |
| 2017 | 18.4% | -14.0% |
| 2018 | 19.9% | +8.0% |
| 2019 | 16.8% | -15.7% |
Trinidad and Tobago compared with similar countries
- Trinidad and Tobago's 16.8% is below the median for high income countries, which is 20.7%, 81% of the median. (57 countries reporting)
- Trinidad and Tobago's 16.8% is above the median for Latin America & Caribbean, which is 15.9%, 1.1× the median. (25 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 30.0% | 28.7% | 32.6% | 4 |
| 1980s | 35.2% | 34.8% | 35.7% | 2 |
| 2000s | 25.0% | 20.5% | 30.3% | 9 |
| 2010s | 22.7% | 16.8% | 26.2% | 10 |
Countries ranked near Trinidad and Tobago
More public sector data for Trinidad and Tobago
- Arms imports 32.00 million SIPRI trend indicator values (2021)
- Arms imports (SIPRI trend indicator values), per capita 23.4 SIPRI trend indicator values per person (2021)
- Arms imports (SIPRI trend indicator values), per unit of GDP 0.0013 SIPRI trend indicator values per US$ of GDP (2021)
- Arms imports (SIPRI trend indicator values), annual growth rate -34.78 % change on previous year (2016)
- Arms imports (SIPRI trend indicator values), gaps filled 32.00 million SIPRI trend indicator values (2021)
- Military expenditure (current USD), per capita 171.41 current USD per person (2024)
- Military expenditure (current USD), per unit of GDP 0.0091 current USD per US$ of GDP (2024)
- Military expenditure (current USD), annual growth rate -3.6 % change on previous year (2024)
- Military expenditure (current USD), gaps filled 234.54 million current USD (2024)
- Arms imports (SIPRI trend indicator values), per square kilometre 6,238 SIPRI trend indicator values per square kilometre (2021)
Frequently asked questions
- What is tax revenue in Trinidad and Tobago?
- Tax revenue in Trinidad and Tobago was 16.8% in 2019, according to Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF).
- What is the highest tax revenue recorded in Trinidad and Tobago?
- The highest recorded value was 35.7% in 1980.
- What is the lowest tax revenue recorded in Trinidad and Tobago?
- The lowest recorded value was 16.8% in 2019.
- How does Trinidad and Tobago rank for tax revenue?
- Trinidad and Tobago ranks 80th out of 157 countries with data for 2019.
- Is tax revenue rising or falling in Trinidad and Tobago?
- Over the last ten years it is down 37.5%. The long-run trend across the full record is falling.
- Where does this Trinidad and Tobago data come from?
- The figures come from Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF), published as part of Tax revenue (% of GDP). Statizoid updates them automatically from the source API.
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About this data
Taxes are compulsory, unrequited payments, in cash or in kind, made by institutional units to government units. 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.