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World > North America > Trinidad and Tobago > Economy (Facts)

Trinidad and Tobago - Economy (Facts)
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


Facts at a Glance: Geography - People - Government - Economy - Communications - Transportation - Military - Climate - Current Time - Ranking Positions - Trinidad and Tobago Dollar Exchange Rates
Notes and Commentary: People - Economy - Government and Political Conditions - Foreign Relations - Relations with U.S.



Facts at a Glance
Geography
People
Government
Economy
Communications
Transportation
Military
Climate
Current Time
Ranking Positions
Trinidad and Tobago Dollar Exchange Rates


Notes and Commentary
People
Economy
Government and Political Conditions
Foreign Relations
Relations with U.S.





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