Trinidad & Tobago Articles & Analysis

Optimism is returning to Trinidad and Tobago after years of recession. With the IMF forecasting GDP expansion of 1% in 2018 and 0.9% in 2019, the government now has the opportunity to shift their focus from tackling short-term economic problems to implementing long-term reforms and policy initiatives.

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As the political, economic and migration crisis rolls on in Venezuela, and a significant number of migrants continue to make their way to Trinidad and Tobago, the government and business figures are evaluating their potential impact.

An increase in gas production and new economic data has prompted major international institutions to update their economic projections for Trinidad and Tobago, with the country’s outlook for 2019 more positive than previously expected.

After two years of contraction, the Trinidad & Tobago economy is expected to have returned to growth in 2018, fuelled by increased energy sector returns and a recovery in strategic non-hydrocarbons sectors, including manufacturing and insurance.

Stronger energy revenues, improved tax collection and a solid performance in the non-oil sector should combine to deliver Trinidad and Tobago’s first annual GDP growth since 2015, according to estimates in this fiscal year’s budget.

 

Although priorities vary when it comes to economic development, the increasing need for skilled labour is both a cause of and a requirement for accelerated growth across markets. This demand for technical specialists is often most concentrated in the sectors that are vital to economic advancement, including infrastructure, oil and gas...

 

In recent decades, the pharmaceutical market has expanded its geographical reach. This trend appears to be here to stay; in a survey of major pharmaceutical firms conducted by global consulting firm PwC’s Strategy& team, more than half of respondents anticipated that over 30% of their global sales would originate in emerging markets by...