The economic recession in recent years has forced the government to closely examine its consumption of foreign goods, and to prioritise domestic production and self-sustainability. The push towards wider economic diversification has highlighted agriculture as a potential sector for transformation. While the state has shown a commitment to change, Trinidad and Tobago still has room for improvement as…
On actualising the competitive potential of Trinbagonian agriculture How can agriculture in Trinidad & Tobago transform itself into a fully fledged driver of economic growth? BOODOOSINGH: Agriculture plays an imperative role in human existence, so people and societies should have the inherent knowledge and necessary skills to produce the food they consume. It…
En Español Only a few weeks ago Oxford Business Group published an article on the opportunities for agri-businesses in Colombia, and here we are again talking about the prospects for one of Latin America’s fastest-growing sectors. At the local level: The Colombia case study Output from Colombia’s agricultural sector rose by 7.7% year-on-year (y-o-y) in the first quarter of 2017, quite an impressive…
The oil and gas industry has historically been Trinidad and Tobago’s primary economic engine, but it has faced challenges in the low-price environment of 2014-16. Strategic decisions are now required across the entire value chain, from incentivising upstream production to improving refinery profitability in the mid-stream and boosting capacity utilisation downstream. After facing pressing short-
Increased state investment and new incentives for the private sector to encourage expansion in Trinidad and Tobago’s agro-processing industry, while also spurring growth in primary production. In November Prime Minister Keith Rowley announced plans to invest TT$75m ($11m) in new agro-processing facilities in the district of Moruga on the south coast of Trinidad, as well as provide support for…
By most metrics, the agricultural sector of Trinidad and Tobago accounts for a tiny portion of the overall economy. It contributed an estimated 0.5% of GDP at current prices in 2014 – virtually all of which came from domestic agriculture (0.4%) and distilleries (0.1%), according to the UN’s Food and Agriculture Organisation (FAO). Meanwhile, agricultural exports contributed just 0.01% of GDP. In…
Many of the health indicators for Trinidad & Tobago are similar to those of developed countries. Well over 90% of the population has access to clean drinking water and proper sanitation. Regarding childbirth – one of the key health benchmarks for emerging markets – nearly all expectant mothers make at least four doctor visits before giving birth, and virtually all births in the country are…
Buoyed by revenues from the oil and gas industry, education can be considered one of the great economic strengths of Trinidad and Tobago, which stands out among emerging markets by this measure. In its “Global Competitiveness Report 2014-15” on 144 countries, the World Economic Forum ranked T&T as 89th for overall competitiveness, but 44th for the general quality of its education system, 43rd…
Cocoa, along with honey, was designated as a strategic crop by the National Food Production Action Plan 2012-15 due to its “natural advantage and great potential”. Trinidad and Tobago is no stranger to the strategic importance of the cocoa bean. As far back as 1830, it was the third-largest producer of cocoa in the world, accounting for 20% of total global production. However, local production…
After years of steady state investment, Trinidad and Tobago is reaping the benefits of increased attention to tertiary education. The student participation rate – the share of those aged 17-21 enrolled in post-secondary courses – has risen from 42% in 2010 to 65% in late 2014, compared to 2001, when it was just 7%. One key change has been the introduction in 2004 of the Government Assistance for…
