INDICATOR Population (million) GDP per capita (USD) GDP (USD bn) 27.6 Economic Growth (GDP, annual 2014 1.4 2016 2017 2018 2015 1.4 1.4 1.4 1.4 20,361 18,484 16,414 16,524 17,370 25.1 1.8 22.4 -6.3 22.6 -2.3 23.9 -0.2 -1.0 variation in %) Unemployment 3.3 Rate Fiscal Balance (% of GDP) Public Debt (% 45.2 of GDP) Inflation Rate (CPI, annual variation in %) Exchange Rate (vs USD, aop) Exports (USD billion) Imports (USD billion) International Reserves (USD) 3.4 4.0 4.8 4.9 -2.6 -1.7 -5.3 -8.9 -3.6 48.0 59.1 62.9 61.6 5.7 4.7 3.1 1.9 1.0 6.39 6.36 6.63 6.74 6.75 15.0 11.4 8.3 9.4 10.5 7.9 7.5 7.1 6.5 6.7 11.5 10.0 9.5 8.5 8.1

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Chapter5: Gross Domestic Product
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INDICATOR
Population
(million)
GDP per
capita (USD)
GDP (USD bn) | 27.6
2014
1.4
2015
1.4
2016
1.4
2017
1.4
2018
1.4
20,361
18,484
16,414
16,524
17,370
25.1
1.8
22.4
-6.3
22.6
-2.3
23.9
-0.2
Economic
-1.0
Growth (GDP,
annual
variation in %)
Unemployment| 3.3
Rate
Fiscal Balance
(% of GDP)
Public Debt (% | 45.2
of GDP)
3.4
4.0
4.8
4.9
-2.6
-1.7
-5.3
-8.9
-3.6
48.0
59.1
62.9
61.6
Inflation Rate
5.7
4.7
3.1
1.9
1.0
(CPI, annual
variation in %)
Exchange
Rate (vs USD,
aop)
Exports (USD
billion)
Imports (USD
billion)
International
6.39
6.36
6.63
6.74
6.75
15.0
11.4
8.3
9.4
10.5
7.9
7.5
7.1
6.5
6.7
11.5
10.0
9.5
8.5
8.1
Reserves
(USD).
iii. Identify two indicators of wellbeing that are not listed in the table above which
can be used as superior measures of the standard of living.
iv. Calculate the trade balance for Trinidad and Tobago for the period (2014 –
2018).
v. Assess the impact of a negative trade balance on a country's external
position.
Transcribed Image Text:INDICATOR Population (million) GDP per capita (USD) GDP (USD bn) | 27.6 2014 1.4 2015 1.4 2016 1.4 2017 1.4 2018 1.4 20,361 18,484 16,414 16,524 17,370 25.1 1.8 22.4 -6.3 22.6 -2.3 23.9 -0.2 Economic -1.0 Growth (GDP, annual variation in %) Unemployment| 3.3 Rate Fiscal Balance (% of GDP) Public Debt (% | 45.2 of GDP) 3.4 4.0 4.8 4.9 -2.6 -1.7 -5.3 -8.9 -3.6 48.0 59.1 62.9 61.6 Inflation Rate 5.7 4.7 3.1 1.9 1.0 (CPI, annual variation in %) Exchange Rate (vs USD, aop) Exports (USD billion) Imports (USD billion) International 6.39 6.36 6.63 6.74 6.75 15.0 11.4 8.3 9.4 10.5 7.9 7.5 7.1 6.5 6.7 11.5 10.0 9.5 8.5 8.1 Reserves (USD). iii. Identify two indicators of wellbeing that are not listed in the table above which can be used as superior measures of the standard of living. iv. Calculate the trade balance for Trinidad and Tobago for the period (2014 – 2018). v. Assess the impact of a negative trade balance on a country's external position.
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