REVIEW OF THE ECONOMY 2013
20
SUSTAINING GROWTH, SECURING PROSPERITY
GROSS DOMESTIC PRODUCT
(GDP)
1
Trinidad and Tobago’s real Gross Domestic
Product is expected to grow by 1.6 percent in
2013, a marginal improvement on its estimated
1.2 percent expansion in 2012. This stronger
performance reflects an anticipated expansion
of 2.5 percent in the non-petroleum sector,
supported by positive, albeit flat growth of 0.5
percent in the petroleum sector
(Appendices 1
to 3)
.
The non-petroleum sector is expected to record
positive growth for a second consecutive year,
accelerating from 1.9 percent in 2012, to 2.5
percent in 2013. This momentum should
increase the sector’s contribution to overall GDP
to 60.2 percent (its largest share since 2005),
from 59.7 percent in 2012.
1
GDP is quoted in constant (2000) prices unless otherwise
stated
Underlying the performance of the non-
petroleum sector is expected growth of 2.6
percent in services, the largest non-petroleum
sub-sector. This is a slight improvement over
the sub-sector’s estimated 2.4 percent growth in
2012.As a consequence, amarginal expansion is
expected in the sub-sector’s share of GDP, from
50.2 percent in 2012, to 50.7 percent in 2013.
After two years of contractions ending with a 0.4
percent decline in 2012, the manufacturing sub-
sector, the second largest non-petroleum sub-
sector, is projected to register strong growth
of 6.1 percent in 2013. Manufacturing’s share
of real GDP is accordingly forecasted to rise to
9.2 percent in 2013, from 8.8 percent in 2012.
Agriculture, the other non-petroleum sub-
sector, is also expected to expand by 5.1 percent
in 2013. This is a marked turnaround from its
estimated contraction of 4.9 percent in 2012.
THE REAL ECONOMY
Gross Domestic Product
Petroleum
Agriculture
Manufacturing
Services
Prices
Productivity
Population
Labour Force and Employment
THE REAL ECONOMY
