Short facts about the economy in Trinidad and Tobago
| Economy -
overview: |
Trinidad and Tobago has earned a
reputation as an excellent investment site for international businesses.
Successful economic reforms were implemented in 1995, and foreign investment and
trade are flourishing. Persistently high unemployment remains one of the chief
challenges of the government. The petrochemical sector has spurred growth in
other related sectors, reinforcing the government's commitment to economic
diversification. Tourism is growing, especially in the pleasure boat sector. New
investment and construction also will continue to drive the
economy. |
| GDP: |
purchasing power parity - $11.2 billion
(2000 est.) |
| GDP - real
growth rate: |
5% (2000
est.) |
| GDP - per
capita: |
purchasing power parity - $9,500 (2000
est.) |
| GDP -
composition by sector: |
agriculture: 2%
industry: 44%
services: 54% (1998
est.) |
| Population
below poverty line: |
21% (1992
est.) |
| Household
income or consumption by percentage share: |
lowest 10%: NA%
highest 10%:
NA% |
| Inflation
rate (consumer prices): |
3.2% (2000
est.) |
| Labor
force: |
558,700
(1998) |
| Labor force
- by occupation: |
construction and utilities 12.4%,
manufacturing, mining, and quarrying 14%, agriculture 9.5%, services 64.1% (1997
est.) |
| Unemployment
rate: |
12.8%
(2000) |
| Budget: |
revenues: $1.54 billion
expenditures: $1.6 billion, including
capital expenditures of $117.3 million
(1998) |
| Industries: |
petroleum, chemicals, tourism, food
processing, cement, beverage, cotton textiles |
| Industrial
production growth rate: |
3.8%
(2000) |
| Electricity
- production: |
4.9 billion kWh
(1999) |
| Electricity
- production by source: |
fossil fuel: 99.59%
hydro: 0%
nuclear:
0%
other: 0.41% (1999) |
| Electricity
- consumption: |
4.557 billion kWh
(1999) |
| Electricity
- exports: |
0 kWh
(1999) |
| Electricity
- imports: |
0 kWh
(1999) |
| Agriculture
- products: |
cocoa, sugarcane, rice, citrus, coffee,
vegetables; poultry |
| Exports: |
$3.2 billion (f.o.b.,
2000) |
| Exports -
commodities: |
petroleum and petroleum products,
chemicals, steel products, fertilizer, sugar, cocoa, coffee, citrus,
flowers |
| Exports -
partners: |
US 39.3%, Caricom countries 26.1%,
Latin America 9.5%, EU 5.7% (1999) |
| Imports: |
$3 billion (f.o.b., 2000
est.) |
| Imports -
commodities: |
machinery, transportation equipment,
manufactured goods, food, live animals |
| Imports -
partners: |
US 39.8%, Venezuela 11.9%, EU 11%,
Caricom 4.8% (1999) |
| Debt -
external: |
$2.8 billion (2000
est.) |
| Economic aid
- recipient: |
$121.4 million
(1995) |
| Currency: |
Trinidad and Tobago dollar
(TTD) |
| Exchange
rates: |
Trinidad and Tobago dollars per US
dollar - 6.2688 (January 2001), 6.2998 (2000), 6.2989 (1999), 6.2983 (1998),
6.2517 (1997), 6.0051 (1996) |
| Fiscal
year: |
1 October - 30 September | Source: World Factbook |
