Economy

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.

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. (Source: IHS Chemical, World Methanol Analysis 2013; FERTECON Ammonia Outlook 2014).

Quick Facts

  • US$19,274.60 - GDP per capita *
  • 3.0% - Inflation (Headline)*
  • 4.4% - Unemployment*
  • 640,900 - Labour force*
  • Standards and Poor: BBB+; Outlook Stable, Moody’s: Ba1; Outlook Stable - Investment Grade Status, April 2017
  • US$22.1billion - GDP at Current Market Prices*

(Central Bank of Trinidad and Tobago, 2016 Projected)

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 on year since 2009 to 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 sectors.

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

Source: Central Statistical Office





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

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