Economy Of Trinidad and Tobago - Trinidad and Tobago Information

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Economy Of Trinidad and Tobago
Trinidad and Tobago Information - Country Guides

Economy overview	Trinidad and Tobago, the leading Caribbean producer of oil and gas, has earned a reputation as an excellent investment site for international businesses. Tourism is a growing sector, although not proportionately as important as in many other Caribbean islands. The economy benefits from low inflation and a growing trade surplus. Prospects for growth in 2004 are good as prices for oil, petrochemicals, and liquified natural gas are expected to remain high, and foreign direct investment continues to grow to support expanded capacity in the energy sector. The government is coping with a rise in violent crime.
GDP	purchasing power parity - $10.52 billion (2004 est.)
GDP - real growth rate	3.7% (2004 est.)
GDP - per capita	purchasing power parity - $9,500 (2004 est.)
GDP - composition by sector	agriculture: 2.6% industry: 49% services: 48.4% (2004 est.)
Investment gross fixed	14.8% of GDP (2004 est.)
Population below poverty line	21% (1992 est.)
Household income or consumption by percentage share	lowest 10%: na highest 10%: na
Distribution of family income - Gini index
Inflation rate consumer prices	3.8% (2004 est.)
Labor force	590,000 (2004 est.)
Labor force by occupation	agriculture 9.5%, manufacturing, mining, and quarrying 14%, construction and utilities 12.4%, services 64.1% (1997 est.)
Unemployment rate	10.4% (2004 est.)
Budget	revenues: $2.663 billion expenditures: $2.51 billion, including capital expenditures of $117.3 million (2004 est.)
Public debt	55.9% of GDP (2004 est.)
Agriculture products	cocoa, sugarcane, rice, citrus, coffee, vegetables; poultry
Industries	petroleum, chemicals, tourism, food processing, cement, beverage, cotton textiles
Industrial production growth rate	5.7% (2004 est.)
Electricity production	5.315 billion kWh (2001)
Electricity production by source	fossil fuel: 99.8% hydro: 0% other: 0.2% (2001) nuclear: 0%
Electricity consumption	4.943 billion kWh (2001)
Electricity exports	0 kWh (2001)
Electricity imports	0 kWh (2001)
Oil production	136,200 bbl/day (2004 est.)
Oil consumption	24,000 bbl/day (2001 est.)
Oil exports	NA (2001)
Oil imports	NA (2001)
Oil proved reserves	990 million bbl (1 January 2004)
Natural gas production	25 billion cu m (2003 est.)
Natural gas consumption	13.76 billion cu m (2003 est.)
Natural gas exports	11.79 billion cu m (2003 est.)
Natural gas imports	0 cu m (2001 est.)
Natural gas proved reserves	589 billion cu m (1 January 2004)
Current account balance	$954 million (2004 est.)
Exports	$4.9 billion f.o.b. (2004 est.)
Exports commodities	petroleum and petroleum products, chemicals, steel products, fertilizer, sugar, cocoa, coffee, citrus, flowers
Exports partners	US 63.5%, Jamaica 5.6%, France 3.2% (2003)
Imports	$3.917 billion f.o.b. (2003 est.)
Imports commodities	machinery, transportation equipment, manufactured goods, food, live animals
Imports partners	US 31.7%, Venezuela 13.6%, Brazil 7.3%, Germany 6.6%, UK 5.1%, Japan 4.3% (2003)
Reserves of foreign exchange gold	$2.477 billion (2004 est.)
Debt external	$2.608 billion (2004 est.)
Economic aid recipient	$24 million (1999 est.)
Currency	Trinidad and Tobago dollar (TTD)
Currency code	TTD
Exchange rates	Trinidad and Tobago dollars per US dollar - 6.2929 (2003), 6.2487 (2002), 6.2332 (2001), 6.2998 (2000), 6.2989 (1999)
Fiscal year	1 October - 30 September

Trinidadian Flag Map Of Trinidad and Tobago

Economy Of Trinidad and TobagoTrinidad and Tobago Information - Country Guides

Economy Of Trinidad and Tobago
Trinidad and Tobago Information - Country Guides