Trinidad & Tobago Industry Sector Research Highlights

Chapter

The Report: Trinidad & Tobago 2020: Industry & Retail
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Industry and retail, once the focus of diversification efforts, represent important possible revenue generators in their own right. Trinidad and Tobago is one of the larger exporters in the Caribbean region, with total exports for the year to September 2019 amounting to $24.7bn. In an effort to generate foreign exchange, companies are being pushed to increase exports. Significantly, the government…

Country Report

The Report: Trinidad & Tobago 2020
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The twin-island nation of Trinidad and Tobago is located in the southern end of the Caribbean, just off the coast of Venezuela. Its rich and varied heritage lends itself to a vibrant society and cuisine derived from an array of ethnicities and religions. On the back of elevated global oil prices, T&T has gone through a period of rapid economic expansion in recent decades, resulting in higher leve

Interview

Dominic Hadeed, Managing Director, Blue Waters: Interview
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Interview:Dominic Hadeed How has the recent uptick in economic activity affected the strategy of domestic producers? DOMINIC HADEED: The increase in economic activity in Trinidad and Tobago is not across the board, rather it is industry dependent, meaning some producers excel while others continue to struggle. As is the case worldwide, if retailers fail to keep up with changes in technology…

Interview

Gervase Warner, President and Group CEO, Massy Holdings: Interview
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Interview:Gervase Warner What effect has government deficit spending had on the overall economy of the country? GERVASE WARNER: Deficit spending has not corrected the course of the economy as hoped. It did, however, postpone the pain, maintain the social fabric and keep the country together. Social, political and economic issues tend to converge, and all governments must find a way to manage…

Overview

Small and medium-sized enterprises key to industrial growth
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Small and medium-sized enterprises (SMEs) drive global economic growth and employment, accounting for an average of 33% of GDP and 45% of the workforce in high-income countries, and over 60% of GDP and 70% of employment in developing economies. The rise of SMEs has been crucial to economic diversification and resilience, particularly in countries vulnerable to commodity price fluctuations. SMEs have…

Overview

Changing spending patterns and competition push companies towards e-commerce in Trinidad and Tobago
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Trinidad and Tobago’s retail sector has been impacted by the national economy’s recent period of slow growth, with consumer behaviour – including reduced consumption and evolving spending patterns – accounting for shortfalls in an otherwise promisings sector. State of Play The national government has been keen to highlight the importance of the retail sector both to the consumer and the economy,…

Overview

Foreign direct investment and support mechanisms boost industry in Trinidad and Tobago
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Trinidad and Tobago’s economic output remains intertwined with energy revenue, despite the fact that the effects of the 2009 oil boom have long since declined. The country has emerged from its recessionary period following three consecutive quarters of growth, but, as Paula Gopee-Scoon, the minister of trade and industry, notes, between 2017 and 2019 there were difficulties experienced in every sector…

Analysis

Trinidad and Tobago's fast-moving consumer goods producers seek export growth
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Trinidad and Tobago has one of the most developed and diverse manufacturing sectors in the English-speaking Caribbean. Its development was enabled by the import substitution industrialisation strategy followed in the late 1970s and early 1980s. This model gave local manufacturers the ability to secure market share and capacity without the risk of external competition. The food and beverages…

Interview

Mikaeel Mohammed, CEO, SM Jaleel: Interview
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Interview:Mikaeel Mohammed What impact has the currency shortage had? MIKAEEL MOHAMMED: It has incentivised the activity of importers and penalised exporters. In many sectors, it is easy to bring in products that have been manufactured abroad and sell them at a cheaper price than locally produced industrial goods. Despite the restricted availability of foreign exchange, importers can still…

Overview

Investment in Trinidad and Tobago's consumer retailers grows despite soft demand
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The economic downturn of recent years has resulted in a change in consumer behaviour, with weakened consumption and spending also negatively affecting economic growth and recovery. However, a rebound is expected to gather pace through 2018 and into 2019. Early signs were highlighted in the “Monetary Policy Report” published by the Central Bank of Trinidad and Tobago (CBTT) in November 2017,…

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