Country Profile
From The Report: Trinidad & Tobago 2017
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Despite a challenging environment, Trinidad and Tobago will be looking forward to a number of positive developments in 2017. These include the passage of key procurement legislation, a new revenue authority, improvements to education and health care delivery systems and strengthened ties with key partners, all of which will contribute to lifting the country’s political and economic profile. Over the medium term, prudent financial management, a well-educated workforce and stable democratic political system bode well for economic recovery, but to establish the foundation for long-term sustainable growth, the country must pursue diversification in earnest, while current efforts to diversify the economy should set the foundation for long-term sustainable growth.

This chapter contains a viewpoint from Prime Minister Keith Rowley; and an interview with David Granger, President of the Cooperative Republic of Guyana.

Articles from this Chapter

Overview

Strong fundamentals: Stable political and macroeconomic foundations are set to assist in weathering challenges
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Situated at the southern end of the Caribbean and only 11 km from the Venezuelan coast, the twin islands of Trinidad and Tobago have long stood out in the Caribbean and South American regions. Rich in oil and gas, T&T’s economy is comparatively wealthy, features a robust democratic system and is known for its vibrant cultural traditions. Abundant oil and gas reserves ensure the country of 1.36m people enjoys impressive growth rates. Annual GDP growth averaged slightly over 8% between…

Viewpoint

Regional cohesion: Prime Minister Keith Rowley, on Trinidad and Tobago’s growth prospects in the Caribbean context
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Viewpoint: Prime Minister Keith Rowley The Caribbean is indeed a unique region. There are both differences and similarities among us as a group. Three of the regional economies – T&T, Guyana and Haiti – are commodity exporters, while the others are largely dependent on tourism and remittances. However, we are all relatively undiversified economies, and are highly vulnerable to developments in the US and the UK. Above all, we are convinced that our economic prospects are enhanced by close…

Overview

Paradise found: The twin-island nation has a rich and vibrant culture
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Classified by the World Bank as a high-income country, the twin-island nation of Trinidad and Tobago has one of the highest GNI per capita in Latin America and the Caribbean, at $17,640 in 2015. In contrast to a number of tourism-dependent economies in the Caribbean, T&T’s wealth is linked primarily to its hydrocarbons resources, in particular oil and natural gas extraction. The wealth derived from the country’s energy sector has ensured significant development in recent decades.…

Interview

Development goals: David Granger, President of the Cooperative Republic of Guyana, on working with Trinidad and Tobago on modern development
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Interview: David Granger How can relations between Guyana, Trinidad & Tobago and the Caribbean be encouraged? DAVID GRANGER: Shortly after his election, Prime Minister Keith Christopher Rowley and I agreed to cooperate in the energy sector, as Guyana does not have experience in oil and gas extraction. Our burgeoning energy sector lacks the structure, institutions, legislation and trained personnel it needs to develop. T&T’s expertise in these areas would be highly valuable. We feel we…

Analysis

The path to self-rule: A new draft bill could increase Tobago’s autonomy
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Tobago was first grouped with Trinidad under British colonial rule in 1889. In 1962 the twin islands achieved independence and became a republic over a decade later in 1976. After independence, Tobago was considered an administrative and electoral region of the country, with administration being handled solely through the Ministry of Tobago Affairs. Greater demands for self-rule, however, led to the establishment of the Tobago House of Assembly (THA) in 1980. Tasked with the administration…