| 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 it is not proportionately as important as in many other Caribbean islands. The economy benefits from a growing trade surplus. Economic growth in 2006 reached 12.6% as prices for oil, petrochemicals, and liquefied natural gas remained high, and foreign direct investment continued to grow to support expanded capacity in the energy sector. The government is coping with a rise in violent crime. |
| GDP - real growth rate: |
11.9% (2006 est.) |
| GDP (purchasing power parity): |
$21.12 billion (2006 est.) |
| GDP (official exchange rate): |
$14.9 billion (2006 est.) |
| GDP - per capita (PPP): |
$19,800 (2006 est.) |
| GDP - composition by sector: |
agriculture: 0.7%
industry: 57.7%
services: 41.5% (2006 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): |
8% (2006 est.) |
| Labor force: |
618,000 (2006 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: |
7% (2006 est.) |
| Budget: |
revenues: $6.591 billion
expenditures: $5.649 billion; including capital expenditures of $117.3 million (2006 est.) |
| Industries: |
petroleum, chemicals, tourism, food processing, cement, beverage, cotton textiles |
| Industrial production growth rate: |
17% (2006 est.) |
| Electricity - production: |
6.049 billion kWh (2004) |
| Electricity - consumption: |
5.626 billion kWh (2004) |
| Electricity - exports: |
0 kWh (2004) |
| Electricity - imports: |
0 kWh (2004) |
| Oil - production: |
150,000 bbl/day (2005 est.) |
| Oil - consumption: |
34,000 bbl/day (2004 est.) |
| Oil - exports: |
NA bbl/day |
| Oil - imports: |
NA bbl/day |
| Oil - proved reserves: |
990 million bbl (1 January 2005) |
| Natural gas - production: |
28.09 billion cu m (2004 est.) |
| Natural gas - exports: |
13.94 billion cu m (2004 est.) |
| Natural gas - imports: |
0 cu m (2004 est.) |
| Agriculture - products: |
cocoa, rice, citrus, coffee, vegetables; poultry |
| Exports: |
$12.5 billion f.o.b. (2006 est.) |
| Exports - commodities: |
petroleum and petroleum products, chemicals, steel products, fertilizer, sugar, cocoa, coffee, citrus, flowers |
| Exports - partners: |
US 60.4%, Jamaica 5.6%, Spain 5.4% (2006) |
| Imports: |
$8.798 billion f.o.b. (2006 est.) |
| Imports - commodities: |
machinery, transportation equipment, manufactured goods, food, live animals |
| Imports - partners: |
US 26.9%, Venezuela 14.5%, Brazil 14.2%, Gabon 4.2%, Colombia 4.1% (2006) |
| Debt - external: |
$2.838 billion (2006 est.) |
| Economic aid - recipient: |
$24 million (1999 est.) |
| Currency: |
Trinidad and Tobago Dollar (TTD)
Current Trinidad and Tobago Dollar Exchange Rates
Historical Trinidad and Tobago Dollar Exchange Rates
Chart Trinidad and Tobago Dollar Exchange Rates |
| Currency code: |
TTD |
| Exchange rates: |
Trinidad and Tobago dollars per US dollar - 6.3107 (2006), 6.2842 (2005), 6.299 (2004), 6.2951 (2003), 6.2487 (2002) |
| Fiscal year: |
1 October - 30 September |
