Trinidad and Tobago - Agriculture, value added (constant 2010 US$)

The latest value for Agriculture, value added (constant 2010 US$) in Trinidad and Tobago was 242,330,300 as of 2019. Over the past 35 years, the value for this indicator has fluctuated between 390,176,000 in 2002 and 163,848,300 in 2009.

Definition: Agriculture corresponds to ISIC divisions 1-5 and includes forestry, hunting, and fishing, as well as cultivation of crops and livestock production. Value added is the net output of a sector after adding up all outputs and subtracting intermediate inputs. It is calculated without making deductions for depreciation of fabricated assets or depletion and degradation of natural resources. The origin of value added is determined by the International Standard Industrial Classification (ISIC), revision 3 or 4. Data are in constant 2010 U.S. dollars.

Source: World Bank national accounts data, and OECD National Accounts data files.

See also:

Year Value
1984 181,035,000
1985 201,696,500
1986 203,172,400
1987 203,664,300
1988 217,635,500
1989 230,327,600
1990 272,290,300
1991 253,104,600
1992 250,202,100
1993 271,257,200
1994 292,115,600
1995 294,964,900
1996 315,238,700
1997 356,591,500
1998 330,775,600
1999 338,259,800
2000 330,254,500
2001 358,912,600
2002 390,176,000
2003 330,633,500
2004 217,469,700
2005 205,627,500
2006 184,785,300
2007 225,048,700
2008 242,243,500
2009 163,848,300
2010 216,427,600
2011 217,090,700
2012 189,679,600
2013 187,995,200
2014 193,675,700
2015 263,132,300
2016 243,922,400
2017 263,096,500
2018 237,811,800
2019 242,330,300

Development Relevance: An economy's growth is measured by the change in the volume of its output or in the real incomes of its residents. The 2008 United Nations System of National Accounts (2008 SNA) offers three plausible indicators for calculating growth: the volume of gross domestic product (GDP), real gross domestic income, and real gross national income. The volume of GDP is the sum of value added, measured at constant prices, by households, government, and industries operating in the economy. GDP accounts for all domestic production, regardless of whether the income accrues to domestic or foreign institutions.

Limitations and Exceptions: Among the difficulties faced by compilers of national accounts is the extent of unreported economic activity in the informal or secondary economy. In developing countries a large share of agricultural output is either not exchanged (because it is consumed within the household) or not exchanged for money. Agricultural production often must be estimated indirectly, using a combination of methods involving estimates of inputs, yields, and area under cultivation. This approach sometimes leads to crude approximations that can differ from the true values over time and across crops for reasons other than climate conditions or farming techniques. Similarly, agricultural inputs that cannot easily be allocated to specific outputs are frequently "netted out" using equally crude and ad hoc approximations.

Statistical Concept and Methodology: Gross domestic product (GDP) represents the sum of value added by all its producers. Value added is the value of the gross output of producers less the value of intermediate goods and services consumed in production, before accounting for consumption of fixed capital in production. The United Nations System of National Accounts calls for value added to be valued at either basic prices (excluding net taxes on products) or producer prices (including net taxes on products paid by producers but excluding sales or value added taxes). Both valuations exclude transport charges that are invoiced separately by producers. Total GDP is measured at purchaser prices. Value added by industry is normally measured at basic prices.

Aggregation method: Gap-filled total

Base Period: 2010

Periodicity: Annual

General Comments: Note: Data for OECD countries are based on ISIC, revision 4.

Classification

Topic: Economic Policy & Debt Indicators

Sub-Topic: National accounts