The economy 1959-75
 Table 4c shows that the gross domestic product at factor cost will increase from
BWI$ 788.9 million in 1959 to BWI$1,861.4 million in 1975, an increase of 136 %. If we
examine the growth in three stages, it will be noticed that the period 1959-65 is one of
great expansion and then there is a decline in the annual rate of growth:

 1959-65 increase of 65%
 1965-70 increase of 27%
 1970-75 increase of 19%

The oil companies have not yet announced whether they will undertake large-scale develop-
ment during the period 1965-75, but if they do the previous rate of growth might be main-
tained.


Method
 The inter-industry table for 1959 (Table 4d. i) was constructed from the Trinidad
National Accounts worksheets. (See Tables 4d. ii, 4d. iii, and 4d. iv for projected years.)
The published National Income Report 1/ follows the U. N. system, but the worksheets
contain sector accounts and hence there was no problem in constructing the basic table.
The accounts, however, include capital as well as current expenditure and it was not pos-
sible in all cases to allocate the capital expenditure to the various sectors. It was there-
fore decided to construct the inter-industry table on the same basis as the U. S. A. and
Dutch models. An attempt was made to construct a capital input/output table but this
was discarded because of the above-mentioned difficulties.

 The worksheets existing at the time dictated the number of sectors to be selected.
The major sectors, such as petroleum and asphalt, sugar and rum, manufacturing and
building and construction are reliable. The components of the services sector vary in
reliability and it was not possible to construct a distribution sector from the information
available. The sector accounts are now being expanded and it will be possible in the near
future to construct an 18-sector matrix.

 Besides the production sectors described above, two other sectors require some
description. The profit appropriation sector shows on the receipts side the inflow of
gross profit. On the payments side the main outlays are (a) payments to government
for company taxes; (b) payments to households as distributed profit; (c) payments to
the rest of the world for the distributed profits of expatriate firms; and (d) payments to
the savings and investment account for undistributed profits.

 The capital account shows the financing of capital formation. It includes also a resid-
ual item representing capital inflows and savings of locally owned corporations. A large
proportion of the capital inflows would be the reinvested profits of the oil industry.




1/ Reference N 1. 3, Appendix II.