Investment Climate

Investment Climate

After over 140 years of success in oil and gas, Trinidad and Tobago has a well-established economy. The country is now the 7th largest global exporter 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).

  • US $17,553

    GDP per capita 2018

  • 1.0%

    Inflation rate 2019

  • 4.8%

    Unemployment 2017

  • BBB (Stable)

    Standards & Poor (June 2019)

  • US $24 Bn

    GDP at Market Prices 2018

  • Ba1-Stable

    Moody’s Investment Grade Status (June 2019)

  • 627,600

    Labour Force Q2 2018

Key Productive Sectors: Contributions to GDP 1st Quarter 2019

Key productive sectors include Energy Sector (including Petroleum, Natural Gas and Downstream industries); Manufacturing Sector; Services Sector.

Industry%
Manufacturing4.9
Mining and Quarrying1.9
Trade and Repairs1.7
Public Administration1.5
Financial and Insurance Activities1.7
Electricity and Gas3.2
Transport and Storage5.6
Agriculture, Forestry, and Fishing19.2
Construction; Information Communication; Administrative and Support Services; Professional, Scientific, and Technical Services12.2
Source: www.cso.gov.tt

Major Trading Partners

  • CARICOM
  • Venezuela
  • Cuba
  • United States of America
  • Canada
  • Colombia
  • Costa Rica
  • South Korea
  • Japan
  • China

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

Gross Domestic Product 2020

EconomyBillions in US Dollars
Trinidad & Tobago23.251
Jamaica16.474
The Bahamas12.815
Barbados5.322
Guyana8.065
Belize2.076
Antigua & Barbuda1.779
St Lucia2.103
Grenada1.295
St Kitts & Nevis1.087
St Vincent & the Grenadines0.893
Dominica0.633
Source: International Monetary Fund, World Economic Outlook Database, October 2019

Infrastructure

Five undersea fibre connections provide a robust and redundant core infrastructure, while we also offer reliable energy utilities and transport connections.

  • 3rd for port capacity in the English-speaking Caribbean
  • 2nd most developed road network in the English-speaking Caribbean
  • 40 direct daily flights to major international cities
  • US$0.03 / kWh One of the lowest energy costs worldwide
  • 5 modern fiber optic links - Redundant and diverse fiber-optic submarine cables
  • 52.2% Mobile Internet penetration
  • 160% Mobile Cellular Penetration

Infrastructure Ranking

Trinidad and Tobago ranks 58th out of 141 countries for Infrastructure on the Global Competitive Index 2019. Our competitive advantage results from the efficiency of our air transport services; our linear shipping access and access to electricity.


 

CountryRank
Trinidad and Tobago59
Costa Rica68.7
India68.1
Brazil65.5
Jamaica62.5
Colombia64.3
Dominican Republic64.9
Source: The Global Competitiveness Index 2019

ICT Adoption Ranking

T&T ranks 61st out of 141 countries in ICT Adoption. Advanced communication technologies, necessary for routine production processes are accessible to businesses operating in the country.

CountryRank
Trinidad and Tobago61
Colombia87
Jamaica93
Dominican Republic79
Philippines88
El Salvador105
India120
Source: World Economic Forum, The Global Competitiveness Index 2019