|
Economy - overview:
|
Trinidad and Tobago has earned a reputation as an excellent investment site for international businesses. A leading performer the past four years has been the booming natural gas sector. Tourism is a growing sector, although not proportionately as important as in many other Caribbean islands. The economy benefits from low inflation and a trade surplus. The year 2002 was marked by solid growth in the oil sector, offset in part by domestic political uncertainty.
|
|
GDP:
|
purchasing power parity - $11.07 billion (2002 est.)
|
|
GDP - real growth rate:
|
3.2% (2002 est.)
|
|
GDP - per capita:
|
purchasing power parity - $10,000 (2002 est.)
|
|
GDP - composition by sector:
|
agriculture: 1.6%
industry: 43.2%
services: 55.2% (2000 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):
|
4.3% (2002 est.)
|
|
Labor force:
|
564,000 (2000)
|
|
Labor force - by occupation:
|
construction and utilities 12.4%, manufacturing, mining, and quarrying 14%, agriculture 9.5%, services 64.1% (1997 est.)
|
|
Unemployment rate:
|
10.8% (2002)
|
|
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:
|
2.6% (2002 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:
|
125,400 bbl/day (2001 est.)
|
|
Oil - consumption:
|
24,000 bbl/day (2001 est.)
|
|
Oil - exports:
|
NA (2001)
|
|
Oil - imports:
|
NA (2001)
|
|
Oil - proved reserves:
|
716 million bbl (37257)
|
|
Natural gas - production:
|
15.19 billion cu m (2001 est.)
|
|
Natural gas - consumption:
|
11.54 billion cu m (2001 est.)
|
|
Natural gas - exports:
|
3.65 billion cu m (2001 est.)
|
|
Natural gas - imports:
|
0 cu m (2001 est.)
|
|
Natural gas - proved reserves:
|
610.6 billion cu m (37257)
|
|
Agriculture - products:
|
cocoa, sugarcane, rice, citrus, coffee, vegetables; poultry
|
|
Exports:
|
$4.2 billion f.o.b. (2002 est.)
|
|
Exports - commodities:
|
petroleum and petroleum products, chemicals, steel products, fertilizer, sugar, cocoa, coffee, citrus, flowers
|
|
Exports - partners:
|
US 56.9%, Jamaica 7.3%, France 4.4% (2002)
|
|
Imports:
|
$3.8 billion f.o.b. (2002 est.)
|
|
Imports - commodities:
|
machinery, transportation equipment, manufactured goods, food, live animals
|
|
Imports - partners:
|
US 42%, Cote d'Ivoire 5.5%, UK 5%, Japan 4.5%, Brazil 4.3% (2002)
|
|
Debt - external:
|
$2.8 billion (2002 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 - 6.24 (2002), 6.23 (2001), 6.3 (2000), 6.3 (1999), 6.3 (1998)
|
|
Fiscal year:
|
1 October - 30 September
|
