Chapter 3


 GROWTH OF THE ECONOMY OF TRINIDAD AND TOBAGO


Growth of the economy in recent years
 The period 1951-59 was one of great expansion in the economy of Trinidad and Tobago.
Gross domestic product at factor cost increased from $308.3 million in 1951 to $788.9
million in 1959, that is, by 156%. The largest single contributor was the petroleum and
asphalt sector, which increased from $93.5 million to $261.4 million during the period.
The manufacturing and the building and construction sectors also made significant contri-
butions to the economy.

 The contributions made to the gross domestic product by the various sectors are
shown in Table 2. 3. i for 1951 and 1959. For income, expenditure and product data for
1951 through 1959 see Table 4a.


 Table 2 1. i

 Trinidad and Tobago: Gross domestic product at factor cost, 1951 and 1959
 (current prices) 1/

 1951 1959
 Sector
 SectorMillion BWI$ Percent Million BWI$ Percent

Agriculture 55.6 18.0 98.3 12.5
Petroleum and asphalt 93.5 30.4 261.4 33.1
Manufacturing (including sugar
 and rum) 43.4 14.1 103.9 13.1
Transport and communications 10.0 3.2 25.8 3.3
Government 29.2 9.5 65.9 8.3
Public utilities 9.4 3.0 19.4 2.5
Building and construction 8.4 2.7 48.1 6.1
Ownership of dwellings 8.3 2.7 13.4 1.7
Services 50.5 16.4 152.7 19.4
 Total 308.3 100.0 788.9 100.0

 1_/ See Reference N. 1. 3 (Appendix II).
 Source: Data and material developed during the study and other available data.