Trinidad and Tobago: Net errors and omissions
* indicates monthly or quarterly data series
| Trinidad and Tobago |
Balance of payments, net errors and omissions |
|---|---|
| Latest value | -2,365.78 |
| Year | 2023 |
| Measure | million USD |
| Data availability | 1975 - 2023 |
| Average | -579.82 |
| Min - Max | -4,756.24 - 252.18 |
| Source | The World Bank |
The latest value from 2023 is -2365.78 million USD, a decline from -2075.21 million USD in 2022. In comparison, the world average is -638.70 million USD, based on data from 148 countries. Historically, the average for Trinidad and Tobago from 1975 to 2023 is -579.82 million USD. The minimum value, -4756.24 million USD, was reached in 2013 while the maximum of 252.18 million USD was recorded in 1998.
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Definition: Net errors and omissions constitute a residual category needed to ensure that accounts in the balance of payments statement sum to zero. Net errors and omissions are derived as the balance on the financial account minus the balances on the current and capital accounts. Data are in current U.S. dollars.
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| Related indicators | Latest | Reference | Measure |
|---|---|---|---|
| Terms of trade | 115.28 | 2021 | percent |
| Financial openness | 1.357 | 2021 | index points |
| Foreign Direct Investment, percent of GDP | -5.53 | 2023 | percent |
| Foreign Direct Investment, billion dollars | -1.56 | 2023 | billion U.S. dollars |
| Portfolio investment inflows, equities | 0.00 | 2023 | million dollars (current) |
| Current account, percent of GDP | 11.30 | 2023 | percent |
| Current account, in dollars | 3.40 | 2023 | billion U.S. dollars |
| Trade balance, in dollars | 2.77 | 2023 | billion U.S. dollars |
| Reserves | 6.26 | 2023 | billion U.S. dollars |
| Remittances, percent of GDP | 0.63 | 2023 | percent |
| Remittances | 177.19 | 2023 | million U.S. dollars |
| Net errors and omissions | -2,365.78 | 2023 | million USD |
| Foreign exchange reserves | 6.49 | 12/2024 | billion |