Trinidad & Tobago

Trinidad and Tobago is the largest producer of oil and gas in the Caribbean. While there is a need to diversify the economy away from its dependence on hydrocarbons, a number of new discoveries in late 2019 appear set to support a short-term recovery in the energy sector and lend financing to the wider economy.

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Earlier this year, Trinidad and Tobago was looking relatively resistant to the worst effects of the coronavirus pandemic. However, given that oil and tourism are two of the main contributors to GDP – with a 45% and 7.6% share, respectively, in 2018 – T&T is beginning to feel the economic pinch. In response, policymakers have deployed a variety of fiscal and monetary policy tools, supported by the country's banks. 

‘Nearshoring’ – whereby companies shift their offshore production capacities closer to home – is experiencing significant growth in Latin America amid the coronavirus pandemic.

As global supply chains become increasingly fragmented amid the spread of Covid-19, the discourse around food security in Trinidad and Tobago is being reinvigorated.

In recent years Trinidad and Tobago’s maritime industry has witnessed changes that are sending ripples around the globe. New regulations, new technologies and changing trade volumes are altering the game, and several indicators show the country stands to benefit.

What impact did foreign exchange (forex) variations have on Trinidad and Tobago’s export market?

Across the globe the urban transportation sector is experiencing rapid expansion, driven by economic growth and a global demographic shift towards urbanisation. Politicians, urban planners and private sector actors are working together to find new solutions for reducing congestion and increasing the speed and efficiency of urban transport. However, unless proactive steps are...

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