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 $16,000

    GDP per capita 2017
  • 0.9%

    Inflation rate 2018
  • 5.3%

    Unemployment 2017
  • BBB+

    Standards & Poor (April 2018)
  • US $21.6 Bn

    GDP at Market Prices 2017
  • Baa3- Ba2

    Moody’s Investment Grade Status (May 2018)
  • 640,200

    Labour Force 2017

Key Productive Sectors: Contributions to GDP

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

Sector%
Natural gas exploration and extraction3.1
Crude oil exploration and extraction1.9
Petroleum distribution0.7
Refining (inc. LNG)1.6
Petroleum support services0.4
Manufacture of Petrochemicals1.7
GDP AT PURCHASER PRICES28.7
Taxes less subsidies on products1.1
Construction1.7
Mining and quarrying5.4
Manufacturing5.1
Food, beverages and tobacco products1.1
Petroleum and chemical products3.4
Trade amd repairs5.5
Transport and storage1.1
Information and Communication0.7
Financial and insurance activities2.1
Administrative and support services0.8
GDP at basic prices27.6
Public administration2.2
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 2017

EconomyMillions in US Dollars
Trinidad & Tobago21.642
Jamaica14.359
Bahamas11.639
Barbados5.018
Guyana3.628
Belize1.854
Antigua & Barbuda1.524
St Lucia1.686
Grenada1.115
St Kitts & Nevis0.928
St Vincent & the Grenadines0.801
Dominica0.56
Source: International Monetary Fund (IMF), World Economic Database, April 2018

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 59th out of 137 economies for Infrastructure on the GCI 2017/1 Index. Our competitive advantage results from effective modes of transportation.


 

CountryRank
Trinidad and Tobago59
Costa Rica65
India66
Brazil73
Jamaica74
Colombia87
Dominican Republic101
Source: World Economic Forum, the Global Competitiveness Report 2017/2018

Technological Readiness Ranking

T&T ranks 49th out of 137 countries for Technological Readiness. Advanced communication technologies, necessary for routine production processes are accessible to businesses operating in the country. These technologies also enable innovation for increased competitiveness.      

CountryRank
Trinidad and Tobago49
Colombia65
Jamaica76
Dominican Republic87
Philippines83
El Salvador95
India107
Source: World Economic Forum, The Global Competitiveness Report 2017/2018