Professional Services and Private Sector Associations

Untapped potential for growth in the services sector

Trinidad and Tobago's services sector has seen consistent growth in the last few years, despite recent global economic challenges. While some subsectors have been affected to a small degree, overall the services sector in Trinidad and Tobago continues to grow.
In 2008, services contributed 50.2 per cent, or TT$46.7 billion, to Gross Domestic Product. The sector also grew by 4.9 per cent. These figures exclude energy services, which, because of its historical contribution to the Trinidad and Tobago economy, is not included in the general services sector calculations.

Professional services such as architecture, engineering and consulting; courier services; tourism; cultural industries such as Carnival and entertainment; banking and financial services; information and communication technology; and construction services are just some of the subsectors which make up the services sector. Anything that disappears as soon as it is sold - such as the process of bringing a package to one office from another (courier service) - is a service. You can hold goods but not services.