Share of Government Consumption at Current Purchasing Power Parities for Trinidad and Tobago
CSHGCPTTA156NRUG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.14
Year-over-Year Change
26.55%
Date Range
1/1/1950 - 1/1/2019
Summary
The Share of Government Consumption at Current Purchasing Power Parities for Trinidad and Tobago measures the relative size of government spending in the country's economy. This metric is important for economists and policymakers to assess the role of the public sector and its impact on economic activity.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
This economic indicator represents the portion of Trinidad and Tobago's gross domestic product that is attributed to government consumption expenditures, adjusted for differences in purchasing power across countries. It provides insight into the scale and influence of the public sector within the nation's economy.
Methodology
The data is calculated by the World Bank using national accounts and purchasing power parity conversion factors.
Historical Context
Analysts and policymakers use this metric to evaluate fiscal policy, the size of the public sector, and the government's role in driving economic growth.
Key Facts
- Trinidad and Tobago's government consumption share was 13.7% in 2021.
- The indicator has remained relatively stable over the past decade.
- Government consumption is a key component of GDP for most countries.
FAQs
Q: What does this economic trend measure?
A: This indicator measures the portion of Trinidad and Tobago's gross domestic product that is attributed to government consumption expenditures, adjusted for differences in purchasing power across countries.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the scale and influence of the public sector within Trinidad and Tobago's economy, which is relevant for evaluating fiscal policy, the size of the government, and its role in driving economic growth.
Q: How is this data collected or calculated?
A: The data is calculated by the World Bank using national accounts and purchasing power parity conversion factors.
Q: How is this trend used in economic policy?
A: Analysts and policymakers use this metric to evaluate fiscal policy, the size of the public sector, and the government's role in driving economic growth in Trinidad and Tobago.
Q: Are there update delays or limitations?
A: The data is updated annually by the World Bank, and there may be some delays in the most recent year's availability.
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Citation
U.S. Federal Reserve, Share of Government Consumption at Current Purchasing Power Parities for Trinidad and Tobago (CSHGCPTTA156NRUG), retrieved from FRED.