Taxes on goods and services (% value added of industry and services) in Trinidad and Tobago
Trinidad and Tobago: Taxes on goods and services (% value added of industry and services) was 5.3% in 2019. ▼ Falling
Taxes on goods and services in Trinidad and Tobago, 2001–2019
Source: Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF). Measured in % value added of industry and services.
Analysis
Trinidad and Tobago recorded 5.3% for taxes on goods and services in 2019.
The figure is down 7.8% on the previous year and down 0.4% over ten years.
Over the whole period, taxes on goods and services in Trinidad and Tobago peaked at 6.9% in 2002 and was at its lowest, 4.1%, in 2014.
Trinidad and Tobago ranks 126th of 154 countries on this measure, in the bottom quarter.
The long-run direction has been consistently falling across the 19 years of available data.
Taxes on goods and services (% value added of industry and services) in Trinidad and Tobago, year by year
| Year | % value added of industry and services | Change |
|---|---|---|
| 2001 | 6.4% | — |
| 2002 | 6.9% | +8.5% |
| 2003 | 5.1% | -26.8% |
| 2004 | 5.5% | +8.9% |
| 2005 | 4.6% | -17.1% |
| 2006 | 4.6% | +1.3% |
| 2007 | 4.5% | -3.6% |
| 2008 | 4.4% | -0.8% |
| 2009 | 5.3% | +19.8% |
| 2010 | 5.3% | -0.4% |
| 2011 | 4.1% | -21.9% |
| 2012 | 4.7% | +14.6% |
| 2013 | 4.7% | -0.7% |
| 2014 | 4.1% | -13.8% |
| 2015 | 5.5% | +35.5% |
| 2016 | 4.9% | -10.9% |
| 2017 | 5.7% | +15.4% |
| 2018 | 5.7% | +1.6% |
| 2019 | 5.3% | -7.8% |
Trinidad and Tobago compared with similar countries
- Trinidad and Tobago's 5.3% is below the median for high income countries, which is 11.7%, 45% of the median. (55 countries reporting)
- Trinidad and Tobago's 5.3% is below the median for Latin America & Caribbean, which is 9.1%, 58% of the median. (25 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2000s | 5.3% | 4.4% | 6.9% | 9 |
| 2010s | 5.0% | 4.1% | 5.7% | 10 |
Countries ranked near Trinidad and Tobago
- 123 Kazakhstan 5.7% compare
- 124 Indonesia 5.4% compare
- 125 Niger 5.4%
- 127 Switzerland 5.2% compare
- 128 Australia 5.2% compare
- 129 South Korea 4.9% compare
More public sector data for Trinidad and Tobago
- Democracy, annual growth rate 0 % change on previous year (2025)
- Chief executive of the government is elected, annual growth rate 0 % change on previous year (2025)
- Elected parliament, annual growth rate 0 % change on previous year (2025)
- Men's universal right to vote, annual growth rate 0 % change on previous year (2025)
- Universal right to vote, annual growth rate 0 % change on previous year (2025)
- Universal right to vote in practice, annual growth rate 0 % change on previous year (2025)
- 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)
Frequently asked questions
- What is taxes on goods and services in Trinidad and Tobago?
- Taxes on goods and services in Trinidad and Tobago was 5.3% in 2019, according to Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF).
- What is the highest taxes on goods and services recorded in Trinidad and Tobago?
- The highest recorded value was 6.9% in 2002.
- What is the lowest taxes on goods and services recorded in Trinidad and Tobago?
- The lowest recorded value was 4.1% in 2014.
- How does Trinidad and Tobago rank for taxes on goods and services?
- Trinidad and Tobago ranks 126th out of 154 countries with data for 2019.
- Is taxes on goods and services rising or falling in Trinidad and Tobago?
- Over the last ten years it is down 0.4%. 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 Taxes on goods and services (% value added of industry and services). Statizoid updates them automatically from the source API.
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About this data
General taxes on goods and services are taxes levied on the production, leasing, delivery, sale, purchase or other change of ownership of a wide range of goods and the provision of a wide range of services. This indicator is expressed as a percentage of value added in industry and services which is the contribution to the economy by industries in ISIC (Rev. 3) divisions 05-43 and 50-99.