Quick Facts

  • US$19,274.60 - GDP per capita *
  • 3.0% - Inflation (Headline)*
  • 4.4% - Unemployment*
  • 640,900 - Labour force*
  • Standards and Poor: A/A-1, Moody’s: Baa3 - Investment Grade Status, October 2016
  • US$22.1billion - GDP at Current Market Prices*

(Central Bank of Trinidad and Tobago, 2016 Projected)

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Economic Climate

After over 140 years of success in oil and gas, Trinidad and Tobago has a well-established economy with gas-based production exceeding oil production in terms of contribution to Gross Domestic Product (GDP). The country is now one of the largest global exporters of methanol and ammonia from a single site and the largest exporter of methanol and ammonia to the U.S market[1] (Source: IHS Chemical, World Methanol Analysis 2013; FERTECON Ammonia Outlook 2014). 

Source: Central Statistical Office

Diverse Economy

Trinidad and Tobago has one of the most diversified economies in the English-speaking Caribbean – from energy to manufacturing to services and eco-tourism. The non-energy sector has consistently expanded year or year since 2009 to 2016.

Robust activity

Based on the Central Bank's Index of Quarterly Real Gross Domestic Product, the Trinidad and Tobago economy declined by 8.0% in Q2 2016. An estimated increase of 1% in the non-energy sector output was attributed to increased activity in distribution and restaurants. (CSO, National Economics Account Division, 2016).

Non-energy focus

The Government of the Republic of Trinidad and Tobago has embarked on a thrust to further diversify the economy by inviting both local and foreign investors to take advantage of available investment opportunities within the country’s non-energy

Major Exports

Crude oil, liquified natural gas, asphalt, petrochemicals: methanol, urea, ammonia

Manufactured Goods

Food, beverages and tobacco; chemicals and non-metallic minerals; assembly type and related products; cement; iron and steel

Major Imports

Vehicles; heavy machinery and transport equipment; food and beverages, mineral fuels and lubricants; chemicals and related products; animal fats and vegetable oils;

Key Productive sectors

Energy Sector (Petroleum, Natural Gas and Downstream industries); manufacturing sector; services sector

Major trading partners

CARICOM; Venezuela; Cuba, USA, Canada, Colombia, Costa Rica, Korea, Japan; China

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InvesTT Limited
Trinidad and Tobago
El Socorro, PoS
Trinidad and Tobago

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