Trinidad and Tobago Budget Deficit
General government net lending/borrowing as % of GDP GGXCNL_NGDP
Trinidad and Tobago's budget deficit was -5.20% in 2025, ranked 145th globally. This represents a 1.3% increase from 2024. Data from IMF WEO, covering 1988–2025.
Overview
Trinidad and Tobago's budget deficit stood at -5.20% in 2025, a rise of +0.07% from 2024. The IMF projects -5.20% by 2025. Trinidad and Tobago ranked 145th globally.
Trinidad and Tobago’s fiscal position has tightened markedly, with the 2025 budget deficit recorded at –5.20 percent of GDP, placing the country at rank 145 globally and matching the Slovak Republic’s contemporaneous deficit. The deficit trajectory contrasts sharply with the all‑time peak of 5.70 percent in 2008, when surplus conditions briefly prevailed, and the all‑time trough of –11.83 percent in 2020, a depth reached amid the pandemic‑induced revenue shock. Over the 38‑year series from 1988, when the deficit stood at –9.34 percent, the recent swing toward a modest negative balance reflects a combination of tighter expenditure controls and modest revenue recovery, yet it remains well below pre‑crisis levels. The narrowing gap between deficit and surplus suggests a gradual fiscal consolidation, but sustaining this path will depend on stabilising oil‑related earnings, improving tax collection, and limiting discretionary spending, factors that could either reinforce the current improvement or reverse it if adverse shocks recur.
Data & projection
| Year | Budget Deficit | YoY change | Rank |
|---|---|---|---|
| 2030* IMF | -1.03% | - | - |
| 2029* IMF | -1.51% | - | - |
| 2028* IMF | -2.65% | - | - |
| 2027* IMF | -4.78% | - | - |
| 2026* IMF | -5.93% | - | - |
| 2025* IMF | -5.20% | - | - |
| 2025 | -5.20% | +0.07% | #145 |
| 2024 | -5.27% | −4.07% | #45 |
| 2023 | -1.20% | −2.15% | #132 |
| 2022 | 0.96% | +9.35% | #162 |
| 2021 | -8.39% | +3.44% | #22 |
| 2020 | -11.83% | −8.11% | #21 |
| 2019 | -3.72% | +2.17% | #51 |
| 2018 | -5.89% | +4.56% | #21 |
| 2017 | -10.45% | −0.61% | #5 |
| 2016 | -9.84% | −2.47% | #17 |
| 2015 | -7.37% | −3.04% | #24 |
| 2014 | -4.34% | −1.63% | #50 |
| 2013 | -2.70% | −1.43% | #87 |
| 2012 | -1.28% | −0.59% | #120 |
| 2011 | -0.69% | −0.83% | #134 |
Detected Pattern
Analysis
Trinidad and Tobago matched the Export Boom Cycle pattern in 2014. Historically, 71% of countries showing this pattern (546 out of 768) saw budget deficit improve within 24 months. View full analysis →
Frequently Asked Questions
Trinidad and Tobago's budget deficit was -5.20% in 2025. Ranked 145th globally. This represents a 1.3% increase from the previous year.
Trinidad and Tobago's budget deficit peaked at 5.70% in 2008.
The lowest budget deficit in Trinidad and Tobago was -11.83% in 2020.
Trinidad and Tobago ranks 145th globally in budget deficit as of 2025.
The World Bank indicator code is GGXCNL_NGDP. Data sourced from IMF WEO.
Trinidad and Tobago's budget deficit is projected to reach -5.20% by 2025 based on IMF projection.
The budget deficit of Trinidad and Tobago in 2025 was -5.20%. This ranks 145th in the world.
Cite this page
@misc{historysaid_trinidad-and-tobago_budget-deficit,
title = {Trinidad and Tobago Budget Deficit},
url = {https://historysaid.com/trinidad-and-tobago/budget-deficit/},
publisher = {HistorySaid},
year = {2026}
}