Economy - overview:
Trinidad and Tobago has earned a reputation as an excellent investment site for international businesses and has one of the highest growth rates and per capita incomes in Latin America. Economic growth between 2000 and 2007 averaged slightly over 8%, significantly above the regional average of about 3.7% for that same period; however, GDP has slowed down since then and contracted about 3.5% in 2009, before rising more than 2% in 2011. Growth has been fueled by investments in liquefied natural gas (LNG), petrochemicals, and steel. Additional petrochemical, aluminum, and plastics projects are in various stages of planning. Trinidad and Tobago is the leading Caribbean producer of oil and gas, and its economy is heavily dependent upon these resources but it also supplies manufactured goods, notably food products and beverages, as well as cement to the Caribbean region. Oil and gas account for about 40% of GDP and 80% of exports, but only 5% of employment. The country is also a regional financial center, and tourism is a growing sector, although it is not as important domestically as it is to many other Caribbean islands. The economy benefits from a growing trade surplus. The previous MANNING administration benefited from fiscal surpluses fueled by the dynamic export sector; however, declines in oil and gas prices have reduced government revenues which will challenge the new government's commitment to maintaining high levels of public investment.
GDP (purchasing power parity): GDP (official exchange rate): GDP - real growth rate: GDP - per capita (PPP): GDP - composition by sector: Labor force: Labor force - by occupation: Unemployment rate: Population below poverty line: Household income or consumption by percentage share: Investment (gross fixed): Budget: Taxes and other revenues: Budget surplus (+) or deficit (-): Public debt: Inflation rate (consumer prices): Central bank discount rate: Commercial bank prime lending rate: Stock of narrow money: Stock of broad money: Stock of domestic credit: Market value of publicly traded shares: Agriculture - products: Industries: Industrial production growth rate: Electricity - production: Electricity - consumption: Electricity - exports: Electricity - imports: Oil - production: Oil - consumption: Oil - exports: Oil - imports: Natural gas - production: Natural gas - consumption: Natural gas - exports: Natural gas - imports: Natural gas - proved reserves: Current account balance: Exports: Exports - commodities: Exports - partners: Imports: Imports - commodities: Imports - partners: Reserves of foreign exchange and gold: Debt - external: Stock of direct foreign investment - at home: Stock of direct foreign investment - abroad: Exchange rates:
NOTE: 1) The information regarding Trinidad and Tobago on this page is re-published from the 2012 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Trinidad and Tobago Economy 2012 information contained here. All suggestions for corrections of any errors about Trinidad and Tobago Economy 2012 should be addressed to the CIA.
$26.83 billion (2011 est.)
country comparison to the world: 112
note: data are in 2011 US dollars
[see also: GDP country ranks ]
$22.1 billion (2011 est.)
[see also: GDP (official exchange rate) country ranks ]
1.1% (2011 est.)
country comparison to the world: 180
[see also: GDP - real growth rate country ranks ]
$20,300 (2011 est.)
country comparison to the world: 61
note: data are in 2011 US dollars
[see also: GDP - per capita country ranks ]
agriculture: 0.4%
[see also: GDP - composition by sector - agriculture country ranks ]
industry: 58.9%
[see also: GDP - composition by sector - industry country ranks ]
services: 40.7% (2011 est.)
[see also: GDP - composition by sector - services country ranks ]
636,800 (2011 est.)
country comparison to the world: 152
[see also: Labor force country ranks ]
agriculture: 3.8%
[see also: Labor force - by occupation - agriculture country ranks ]
manufacturing, mining, and quarrying: 12.8%
construction and utilities: 20.4%
services: 62.9% (2007 est.)
[see also: Labor force - by occupation - services country ranks ]
6.2% (2011 est.)
country comparison to the world: 63
[see also: Unemployment rate country ranks ]
17% (2007 est.)
[see also: Population below poverty line country ranks ]
lowest 10%: NA%
[see also: Household income or consumption by percentage share - lowest 10% country ranks ]
highest 10%: NA%
[see also: Household income or consumption by percentage share - highest 10% country ranks ]
11.9% of GDP (2011 est.)
country comparison to the world: 176
[see also: Investment (gross fixed) country ranks ]
revenues: $7.548 billion
[see also: Budget revenues country ranks ]
expenditures: $8.126 billion (2011 est.)
[see also: Budget expenditures country ranks ]
34.2% of GDP (2011 est.)
country comparison to the world: 69
[see also: Taxes and other revenues country ranks ]
-2.6% of GDP (2011 est.)
country comparison to the world: 94
[see also: Budget surplus (+) or deficit (-) country ranks ]
31.7% of GDP (2011 est.)
country comparison to the world: 96
[see also: Public debt country ranks ]
5.2% (2011 est.)
country comparison to the world: 121
[see also: Inflation rate (consumer prices) country ranks ]
4.25% (31 December 2010 est.)
country comparison to the world: 43
[see also: Central bank discount rate country ranks ]
9.2% (31 December 2011 est.)
country comparison to the world: 111
[see also: Commercial bank prime lending rate country ranks ]
$5.058 billion (31 December 2011 est.)
country comparison to the world: 95
[see also: Stock of narrow money country ranks ]
$15.79 billion (31 December 2011 est.)
country comparison to the world: 92
[see also: Stock of broad money country ranks ]
$6.097 billion (31 December 2011 est.)
country comparison to the world: 110
[see also: Stock of domestic credit country ranks ]
$12.16 billion (31 December 2010)
country comparison to the world: 68
[see also: Market value of publicly traded shares country ranks ]
cocoa, rice, citrus, coffee, vegetables; poultry
petroleum and petroleum products, liquefied natural gas (LNG), methanol, ammonia, urea, steel products, beverages, food processing, cement, cotton textiles
2.1% (2011 est.)
country comparison to the world: 121
[see also: Industrial production growth rate country ranks ]
7.419 billion kWh (2008 est.)
country comparison to the world: 100
[see also: Electricity - production country ranks ]
7.246 billion kWh (2008 est.)
country comparison to the world: 97
[see also: Electricity - consumption country ranks ]
0 kWh (2009 est.)
[see also: Electricity - exports country ranks ]
0 kWh (2009 est.)
[see also: Electricity - imports country ranks ]
144,900 bbl/day (2010 est.)
country comparison to the world: 47
[see also: Oil - production country ranks ]
41,000 bbl/day (2010 est.)
country comparison to the world: 106
[see also: Oil - consumption country ranks ]
242,600 bbl/day (2009 est.)
country comparison to the world: 48
[see also: Oil - exports country ranks ]
95,240 bbl/day (2009 est.)
country comparison to the world: 66
[see also: Oil - imports country ranks ]
42.38 billion cu m (2010 est.)
country comparison to the world: 23
[see also: Natural gas - production country ranks ]
21.97 billion cu m (2010 est.)
country comparison to the world: 33
[see also: Natural gas - consumption country ranks ]
20.41 billion cu m (2010 est.)
country comparison to the world: 12
[see also: Natural gas - exports country ranks ]
0 cu m (2010 est.)
country comparison to the world: 130
[see also: Natural gas - imports country ranks ]
408.2 billion cu m (1 January 2011 est.)
country comparison to the world: 32
[see also: Natural gas - proved reserves country ranks ]
$5.803 billion (2011 est.)
country comparison to the world: 34
[see also: Current account balance country ranks ]
$16.92 billion (2011 est.)
country comparison to the world: 76
[see also: Exports country ranks ]
petroleum and petroleum products, liquefied natural gas (LNG), methanol, ammonia, urea, steel products, beverages, cereal and cereal products, sugar, cocoa, coffee, citrus fruit, vegetables, flowers
US 44.2%, Spain 6.1%, Jamaica 5.1% (2010)
$10.47 billion (2011 est.)
country comparison to the world: 93
[see also: Imports country ranks ]
mineral fuels, lubricants, machinery, transportation equipment, manufactured goods, food, chemicals, live animals
US 27.8%, Russia 11.5%, Brazil 7.8%, Colombia 6.9%, Gabon 4.3%, China 4.2%, Canada 4.2% (2010)
$9.876 billion (31 December 2011 est.)
country comparison to the world: 73
[see also: Reserves of foreign exchange and gold country ranks ]
$4.746 billion (31 December 2011 est.)
country comparison to the world: 117
[see also: Debt - external country ranks ]
$102 billion (31 December 2008 est.)
country comparison to the world: 34
[see also: Stock of direct foreign investment - at home country ranks ]
$3.829 billion (2007)
country comparison to the world: 63
[see also: Stock of direct foreign investment - abroad country ranks ]
Trinidad and Tobago dollars (TTD) per US dollar -
2) The rank that you see is the CIA reported rank, which may habe the following issues:
a) They assign increasing rank number, alphabetically for countries with the same value of the ranked item, whereas we assign them the same rank.
b) The CIA sometimes assignes counterintuitive ranks. For example, it assigns unemployment rates in increasing order, whereas we rank them in decreasing order
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This page was last modified 07-Mar-12