| 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. |
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| GDP | 0.3% (2006) |
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| GDP - real growth rate | 11.9% (2006 est.) |
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| GDP - composition by sector | agriculture: 0.7%
industry: 57.7%
services: 41.5% (2006 est.) |
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| Population below poverty line | 21% (1992 est.) |
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Household income or consumption
by percentage share | lowest 10%: NA%
highest 10%: NA% |
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| Labor force | 618,000 (2006 est.) |
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| Labor force - by occupation | agriculture 9.5%, manufacturing, mining, and quarrying 14%, construction and utilities 12.4%, services 64.1% (1997 est.) |
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| Unemployment rate | 7% (2006 est.) |
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| Budget | revenues: $6.591 billion
expenditures: $5.649 billion; including capital expenditures of $117.3 million (2006 est.) |
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| Industries | petroleum, chemicals, tourism, food processing, cement, beverage, cotton textiles |
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| Industrial production growth rate | 17% (2006 est.) |
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Electricity -
production | 6.049 billion kWh (2004) |
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Electricity -
production by source | fossil fuel: 99.8%
hydro: 0%
nuclear: 0%
other: 0.2% (2001) |
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Electricity -
consumption | 5.626 billion kWh (2004) |
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Electricity -
exports | 0 kWh (2004) |
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Electricity -
imports | 0 kWh (2004) |
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| Oil - production | 150,000 bbl/day (2005 est.) |
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| Oil - consumption | 34,000 bbl/day (2004 est.) |
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| Oil - exports | NA bbl/day |
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| Oil - imports | NA bbl/day |
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| Oil - proved reserves | 990 million bbl (1 January 2004) |
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| Agriculture - products | cocoa, rice, citrus, coffee, vegetables; poultry |
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| Exports | $12.5 billion f.o.b. (2006 est.) |
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| Exports - commodities | petroleum and petroleum products, chemicals, steel products, fertilizer, sugar, cocoa, coffee, citrus, flowers |
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| Exports - partners | US 68.6%, Jamaica 5.4%, Barbados 2.9% (2005) |
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| Imports | $8.798 billion f.o.b. (2006 est.) |
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| Imports - commodities | machinery, transportation equipment, manufactured goods, food, live animals |
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| Imports - partners | US 27.2%, Venezuela 13.1%, Brazil 13.1%, Japan 5.4%, Canada 4.1% (2005) |
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| Debt - external | $2.838 billion (2006 est.) |
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| Economic aid - recipient | $24 million (1999 est.) |
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| Currency code | TTD |
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| Exchange rates | Trinidad and Tobago dollars per US dollar - 6.3107 (2006), 6.2842 (2005), 6.299 (2004), 6.2951 (2003), 6.2487 (2002) |
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| Fiscal year | 1 October - 30 September |
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