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Economy of Estonia vs Trinidad and Tobago compared: GDP & Debt

Updated on by Georank team

Estonia has a GDP of $43.1B compared to $25.6B for Trinidad and Tobago, ranking 100/197 and 115/197 by economy size, respectively.

Estonia has $10.1B in government debt (23.4% of GDP), compared to $16.5B (64.2% of GDP) in Trinidad and Tobago.

Estonia vs Trinidad and Tobago GDP by year

Estonia
Trinidad and Tobago
1x
Year GDP, current $
Estonia Trinidad
2024 $43,130,419,829 $25,633,544,529
2023 $41,470,344,395 $25,036,993,423
2022 $38,226,641,740 $28,341,164,301
2021 $37,201,101,171 $24,222,963,263
2020 $31,820,771,494 $20,888,515,184
2019 $31,873,748,770 $23,477,745,792
2018 $31,222,632,741 $23,883,058,083
2017 $27,469,461,919 $23,830,750,901
2016 $24,561,027,788 $23,624,322,193
2015 $23,311,847,751 $26,841,141,793
2014 $27,055,689,003 $29,474,180,005
2013 $25,451,032,781 $28,560,537,057
2012 $23,237,406,116 $27,147,349,937
2011 $23,303,915,795 $25,433,007,437
2010 $19,524,355,419 $22,157,920,592
2009 $19,633,984,440 $19,172,165,226
2008 $24,342,935,404 $27,871,587,350
2007 $22,450,264,166 $21,641,620,050
2006 $17,025,671,810 $18,369,361,094
2005 $14,109,491,357 $15,982,389,018
2004 $12,148,595,031 $13,280,291,990
2003 $9,876,595,528 $11,305,459,802
2002 $7,370,119,619 $9,008,298,229
2001 $6,250,218,423 $8,824,849,191
2000 $5,686,579,748 $8,154,342,116
1999 $5,756,912,266 $6,808,982,521
1998 $5,674,080,543 $6,043,686,654
1997 $5,154,420,649 $5,737,771,523
1996 $4,786,018,988 $5,759,570,336
1995 $4,502,970,889 $5,329,217,747
1994 $4,123,011,420 $4,947,181,646
1993 $4,013,091,682 $4,669,491,134
1992 - $5,439,552,941
1991 - $5,307,905,882
1990 - $5,068,000,000
1989 - $4,323,058,824
1988 - $4,496,910,569
1987 - $4,797,777,778
1986 - $4,794,444,444
1985 - $7,375,918,367
1984 - $7,757,083,333
1983 - $7,763,750,000
1982 - $8,140,416,667
1981 - $6,992,083,333
1980 - $6,235,833,333
1979 - $4,602,416,625
1978 - $3,562,333,458
1977 - $3,138,666,667
1976 - $2,500,424,955
1975 - $2,442,669,825
1974 - $2,042,001,071
1973 - $1,308,785,431
1972 - $1,083,391,758
1971 - $896,765,215
1970 - $821,850,000
1969 - $779,200,000
1968 - $758,899,950
1967 - $761,981,912
1966 - $723,739,857
1965 - $736,573,159
1964 - $711,897,520
1963 - $678,239,329
1962 - $619,322,810
1961 - $584,964,621
1960 - $535,673,252

Data sources: World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06).

GeoRank.org/economy/estonia/trinidad-and-tobago | CC BY

GDP per capita in Estonia vs Trinidad and Tobago by year

Estonia
GDP per capita

GDP per capita, PPP
Trinidad and Tobago
GDP per capita

GDP per capita, PPP
1x
Year Current $
Estonia Trinidad
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $31,428 $49,969 $18,733 $36,329
2023 $30,264 $48,637 $18,308 $34,623
2022 $28,340 $48,218 $20,751 $32,979
2021 $27,951 $44,252 $17,713 $30,482
2020 $23,934 $40,672 $15,284 $26,731
2019 $24,021 $40,586 $17,213 $29,316
2018 $23,618 $37,121 $17,571 $28,673
2017 $20,852 $34,507 $17,566 $28,484
2016 $18,666 $31,948 $17,449 $28,232
2015 $17,722 $29,713 $19,887 $29,825
2014 $20,582 $29,404 $21,908 $32,027
2013 $19,310 $27,831 $21,305 $31,746
2012 $17,568 $26,243 $20,332 $31,883
2011 $17,556 $24,652 $19,151 $31,078
2010 $14,664 $21,614 $16,815 $30,778
2009 $14,712 $20,489 $14,634 $29,602
2008 $18,206 $22,804 $21,299 $30,807
2007 $16,745 $22,201 $16,607 $29,355
2006 $12,641 $19,344 $14,153 $27,393
2005 $10,415 $16,638 $12,346 $23,536
2004 $8,916 $14,538 $9,871 $20,674
2003 $7,205 $13,135 $8,445 $18,743
2002 $5,343 $11,667 $6,763 $16,141
2001 $4,503 $10,309 $6,657 $14,797
2000 $4,071 $9,425 $6,179 $13,953
1999 $4,141 $8,412 $5,179 $12,812
1998 $4,093 $8,451 $4,613 $11,735
1997 $3,683 $7,980 $4,394 $10,769
1996 $3,381 $6,892 $4,427 $9,883
1995 $3,134 $6,480 $4,115 $9,099
1994 $2,819 $5,967 $3,840 $8,631
1993 $2,686 $5,814 $3,647 $8,209
1992 - $5,872 $4,277 $8,129
1991 - $7,151 $4,205 $7,274
1990 - $7,481 $4,047 $6,878
1989 - - $3,482 -
1988 - - $3,656 -
1987 - - $3,941 -
1986 - - $3,985 -
1985 - - $6,212 -
1984 - - $6,613 -
1983 - - $6,690 -
1982 - - $7,091 -
1981 - - $6,160 -
1980 - - $5,559 -
1979 - - $4,155 -
1978 - - $3,258 -
1977 - - $2,907 -
1976 - - $2,345 -
1975 - - $2,319 -
1974 - - $1,962 -
1973 - - $1,273 -
1972 - - $1,067 -
1971 - - $894 -
1970 - - $829 -
1969 - - $795 -
1968 - - $783 -
1967 - - $797 -
1966 - - $768 -
1965 - - $793 -
1964 - - $780 -
1963 - - $756 -
1962 - - $704 -
1961 - - $678 -
1960 - - $634 -

Data sources: World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06).

GeoRank.org/economy/estonia/trinidad-and-tobago | CC BY

Estonia's GDP per capita is $31,428, ranking 40/197, compared to $18,733 in Trinidad and Tobago, ranking 61/197. Adjusted for purchasing power (GDP per capita PPP), Estonia ranks 45th at $49,969, while Trinidad and Tobago ranks 62nd at $36,329.

Economic indicators

Estonia Trinidad
Gross domestic product
$43.1B
2024
$25.6B
2024
GDP rank
100/197
2024
115/197
2024
GDP growth
-0.09%
2023-2024
2.51%
2023-2024
GDP per capita
$31,428
2024
$18,733
2024
GDP per capita rank
40/197
2024
61/197
2024
GDP per capita, PPP
$49,969
2024
$36,329
2024
GDP per capita PPP rank
45/197
2024
62/197
2024
Government debt
$10.1B
2024
$16.5B
2024
Debt-to-GDP ratio
23.4%
2024
64.2%
2024
Government debt per person
$7,356
2024
$12,028
2024
Government debt per person rank
65/185
2024
45/185
2024
Average annual personal income after taxes
$23,740
2026
$11,007
2026
Market capitalization of domestic companies n/a
$3.89B
2001
Number of billionaires
2
2025
n/a
Income share by richest 10%
23.7%
2023
29.9%
1992
Income share by poorest 10%
3.1%
2023
2.1%
1992
Government expenditure, % of GDP
43.6%
2024
32.3%
2024
Consumer prices inflation
3.52%
2023-2024
0.53%
2023-2024
Central bank interest rate n/a
3.5%
2020
Unemployment rate
7.5%
2024
4.01%
2024
Population
1339590
1374840

Spending and national debt comparison by year

Estonia
Spending

Debt
Trinidad and Tobago
Spending

Debt
1x
Year % of GDP
Estonia Trinidad
Government spending Government debt Government spending Government debt
2024 43.6% 23.4% 32.3% 64.2%
2023 43.5% 20.1% 33.5% 62.2%
2022 40.1% 19.2% 27.2% 51.3%
2021 42.1% 18.4% 30.3% 58.4%
2020 44.7% 19.1% 36.2% 62.5%
2019 39.1% 9.05% 31.2% 46.2%
2018 38.8% 8.51% 30.2% 41.5%
2017 38.9% 9.43% 30.7% 39.8%
2016 38.9% 10.2% 31.9% 35.4%
2015 39.3% 10.8% 35% 27.1%
2014 37.6% 11.6% 32.8% 23.5%
2013 38.3% 11.4% 31.3% 21.6%
2012 39.4% 11.1% 29.5% 21.8%
2011 37.6% 7.6% 29.4% 26.4%
2010 40.7% 7.99% 30.4% 16.8%
2009 46.1% 7.98% 37% 20.7%
2008 39.5% 4.67% 26.7% 13.5%
2007 33.8% 3.91% 25.7% 16.2%
2006 33.5% 4.72% 31.6% 16.9%
2005 33.7% 4.73% 26.7% 19.8%
2004 34.1% 5.16% 22.5% 24.2%
2003 35% 5.6% 22.2% 30.2%
2002 35.9% 5.66% 24.4% 37%
2001 35.3% 4.93% 24.8% 36.6%
2000 36.4% 5.11% 23.1% 38.9%
1999 40.7% 5.93% 24.1% 42.2%
1998 38.9% 5.4% 26.9% 42.8%
1997 35.8% 6.03% 27.2% 46.1%
1996 38.6% 7.3% 27.6% 47%
1995 39.5% 8.66% 26.2% 50.1%
1994 - - 25.4% 52.6%
1993 - - 26.9% 58.8%
1992 - - 28.6% 49.2%
1991 - - 29.6% 49.5%
1990 - - 26.9% 47.7%
1989 - - 30.9% 51.9%
1988 - - 45.3% 65.3%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1988–1989, retrieved 2026-02-20).

GeoRank.org/economy/estonia/trinidad-and-tobago | CC BY

In 2024, Estonia's government spending was $18.8B, accounting for 43.6% of its GDP, while Trinidad and Tobago spent $8.28B, or 32.3% of GDP.

Debt-to-GDP ratio is 23.4% in Estonia and 64.2% in Trinidad and Tobago, ranking 171/185 and 70/185, respectively.

Government deficit by year

Deficit/surplus
Estonia

Trinidad and Tobago
1x
Year Deficit/surplus, % of GDP
Estonia Trinidad
2024 -1.51% -5.24%
2023 -3.13% -1.24%
2022 -1.08% 0.92%
2021 -2.57% -8.1%
2020 -5.42% -12.2%
2019 -0.11% -3.74%
2018 -1.15% -5.89%
2017 -1.07% -10.4%
2016 -0.62% -10.1%
2015 -0.24% -7.56%
2014 0.42% -4.31%
2013 -0.66% -2.67%
2012 -0.86% -1.26%
2011 0.09% -0.67%
2010 -1.09% 0.13%
2009 -3.43% -5.42%
2008 -2.92% 5.39%
2007 2.5% 3.12%
2006 2.71% 1.56%
2005 1.07% 2.36%
2004 2.29% 1.84%
2003 1.67% 1.8%
2002 0.29% -0.2%
2001 0.4% 0.61%
2000 -0.11% 0.17%
1999 -3.42% -0.88%
1998 0.65% -1.8%
1997 2.98% 0.11%
1996 -0.93% -0.45%
1995 -0.26% 0.17%
1994 - -0.02%
1993 - 0.23%
1992 - -2.74%
1991 - -0.21%
1990 - -1.27%
1989 - -4.46%
1988 - -9.34%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1988–1989, retrieved 2026-02-20).

GeoRank.org/economy/estonia/trinidad-and-tobago | CC BY

In 2024, Estonia's government deficit, the difference between spending and revenue, was $651M, equivalent to 1.51% of GDP. This compares to Trinidad and Tobago's deficit of $1.34B, or 5.24% of GDP.

Over the past 30 years, Estonia recorded a fiscal deficit in 19 of those years, while Trinidad and Tobago ran a deficit in 18 years. On average, Estonia posted an annual deficit equal to 0.52% of GDP, compared to deficit of 2.13% of GDP for Trinidad and Tobago.

Inflation comparison by year

Inflation
Estonia

Trinidad and Tobago
1x
Year Consumer prices inflation
Estonia Trinidad
2024 3.52% 0.53%
2023 9.16% 4.63%
2022 19.4% 5.83%
2021 4.65% 2.06%
2020 -0.44% 0.6%
2019 2.28% 1%
2018 3.44% 1.02%
2017 3.42% 1.88%
2016 0.15% 3.07%
2015 -0.49% 4.66%
2014 -0.11% 5.68%
2013 2.78% 5.2%
2012 3.93% 9.26%
2011 4.98% 5.11%
2010 2.97% 10.5%
2009 -0.08% 6.98%
2008 10.4% 12%
2007 6.6% 7.89%
2006 4.44% 8.33%
2005 4.08% 6.87%
2004 3.05% 3.72%
2003 1.33% 3.81%
2002 3.57% 4.15%
2001 5.75% 5.54%
2000 4.02% 3.56%
1999 3.3% 3.44%
1998 8.21% 5.61%
1997 10.6% 3.63%

Data sources: World Bank | Economy & Growth (1997–2024, retrieved 2026-04-06).

GeoRank.org/economy/estonia/trinidad-and-tobago | CC BY

Over the past 28 years, Estonia has recorded an average annual inflation rate of 4.46%, compared with 4.88% in Trinidad and Tobago. In 2024, inflation was 3.52% in Estonia and 0.53% in Trinidad and Tobago.

Top exports between countries

Estonia
Export category Export value
Wood & paper products $234K
Machinery & equipment $210K
Textiles & consumer goods $181K
Raw materials & minerals $119K
Chemicals & pharma $93K
Metals $2K
Trinidad
Export category Export value
Textiles & consumer goods $213K
Miscellaneous $60K
Wood & paper products $1K

Balance of trade

Estonia Trinidad
Current account balance
-$543M
2024
$645M
2024
Current account balance ranking
107/190
2024
58/190
2024
Current account balance, % of GDP
-1.26%
2024
+2.52%
2024
Goods imports
$22.1B
2024
$7.54B
2024
Goods exports
$19B
2024
$10B
2024
Service imports
$10.4B
2024
$2.71B
2024
Service exports
$13.6B
2024
$1.26B
2024
Imports of goods and services, % of GDP
75.4%
2024
n/a
Exports of goods and services, % of GDP
75.7%
2024
45%
2025

Economic freedom indices

The indices of economic freedom below are issued by the Heritage Foundation. Higher scores indicate stronger economic health.

Estonia Trinidad
Economic freedom 78.7 62.4
Economic freedom ranking 10/197 87/197
Property rights 93.6 47.3
Government integrity 86.3 45.5
Judicial effectiveness 92.4 58.8
Tax burden 77.9 76.1
Government spending 46 71.1
Fiscal health 93.1 86.3
Business freedom 82.8 67.1
Labor freedom 59 57.2
Monetary freedom 73.9 81
Trade freedom 79.4 68.8
Investment freedom 90 50
Financial freedom 70 40

Economic freedom comparison by year

Estonia
Trinidad and Tobago
1x
Year Economic freedom index
Estonia Trinidad
2026 78.7 62.4
2025 78.9 63.6
2024 77.8 60.4
2023 78.6 59.5
2022 80 58.8
2021 78.2 59
2020 77.7 58.3
2019 76.6 57
2018 78.8 57.7
2017 79.1 61.2
2016 77.2 62.9
2015 76.8 64.1
2014 75.9 62.7
2013 75.3 62.3
2012 73.2 64.4
2011 75.2 66.5
2010 74.7 65.7
2009 76.4 68
2008 77.9 69.5
2007 78 70.6
2006 74.9 70.4
2005 75.2 71.5
2004 77.4 71.3
2003 77.7 68.8
2002 77.6 70.1
2001 76.1 71.8
2000 69.9 74.5
1999 73.8 72.4
1998 72.5 72
1997 69.1 71.3
1996 65.4 69.2
1995 65.2 -

Data sources: The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-03-09).

GeoRank.org/economy/estonia/trinidad-and-tobago | CC BY

The Economic Freedom Index for Estonia is 78.7, ranking 10/197, compared to 62.4 for Trinidad and Tobago, ranking 87/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Estonia Trinidad
Services, % of GDP
65.7%
2024
59.2%
2024
Industry, % of GDP
20.1%
2024
34.6%
2024
Agriculture, forestry, and fishing, % of GDP
1.77%
2024
0.78%
2024
GNI, Atlas method
$39.6B
2024
$27B
2024
GNI per capita, PPP
$48,880
2024
$36,580
2024
Total reserves including gold
$2.07B
2024
$5.6B
2024
Total reserves ranking
125/177
2024
94/177
2024
Net foreign direct investment
-$285M
2024
$980M
2024
Net inflows of foreign direct investment
-$3.44B
2024
-$453M
2024
Net outflows of foreign direct investment
-$3.72B
2024
$527M
2024
Poverty at national poverty lines
22.5%
2022
20%
2020
Gross capital formation, % of GDP
24.6%
2024
19%
2023

GDP per capita map

1x

Data sources: World Bank | Economy & Growth (1985–2024, retrieved 2026-04-06); U.S. Census Bureau (1985–2024, retrieved 2026-02-08).

GeoRank.org/economy/estonia/trinidad-and-tobago | CC BY

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Data sources:

  1. World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06)
  2. International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20)
  3. The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-03-09)
  4. U.S. Census Bureau (1985–2024, retrieved 2026-02-08)
  5. TradeMap (2020–2024, retrieved 2026-02-08)
  6. International Monetary Fund (IMF) | Public Finances in Modern History (1988–1989, retrieved 2026-02-20)
  7. United Nations | World Population Prospects (2026, retrieved 2026-03-10)
  8. LivingCost (2026, retrieved 2025-10-14)
  9. Central Intelligence Agency (CIA) (2020, retrieved 2026-02-20)

Creative Commons Attribution (CC BY) — you’re free to copy, share, remix, adapt, and use even commercially as long as you give appropriate credit and clearly indicate if you made changes. Other sources may be subject to different license terms.

The current account balance is the sum of net trade in goods and services, net earnings from cross-border investments, and net transfer payments. It reflects a country's economic transactions with the rest of the world and is a fundamental component of the balance of payments. A surplus indicates that a country exports more than it imports, while a deficit shows the opposite.

Gross National Income (GNI) measures a country's total income. It encompasses income earned by residents, businesses, and foreign sources, defined as employee compensation and investment profits. GNI adds product taxes not included elsewhere and subtracts subsidies. It accounts for income from residents working abroad but excludes earnings from foreigners within the country.

A negative value for Net Foreign Direct Investment indicates a country is a net receiver of investments, as foreign inflows exceed outflows after Balance of Payments adjustments. A positive value indicates a net provider, with outflows exceeding inflows. Inflows are credits (increasing foreign claims on domestic assets), while outflows are debits (increasing domestic assets abroad).

Foreign direct investment (FDI, net inflows) shows how much capital foreign investors bring into a country after accounting for any funds that flow back in the opposite direction. It represents the net value of overseas companies establishing, expanding, or financing businesses in the reporting country. A positive number means more capital entered the country than was withdrawn, while a negative number means foreign investors pulled out more than they invested.

Foreign direct investment (FDI, net outflows) shows how much capital residents of a country invest abroad after accounting for any funds that flow back in the opposite direction. It represents the net value of domestic companies establishing, expanding, or financing businesses in other countries. A positive number means more capital was invested abroad than withdrawn, while a negative number means residents pulled back more than they invested.

Formerly gross domestic investment, gross capital formation measures the share of a country’s economic output invested in fixed assets, including buildings, machinery, and infrastructure. It indicates how much of the economy is devoted to building productive capacity.