Economy of Trinidad and Tobago

Common card · No. 491802

Trinidad and Tobago is a high-income economy, with a GDP per capita (at 2024$ PPP) of about $36000, which is slightly less than the Bahamas and Panama (both at about $41000) and significantly less than Canada (about $65000), Guyana (about $80000), and the US (about $86000). Unlike most of the English-speaking Caribbean, the country's economy is primarily industrial, with an emphasis on petroleum and petrochemicals. The country's wealth is attributed to its large reserves and exploitation of oil and natural gas. Trinidad and Tobago was ranked as having one of the poorest investment climates in the Caribbean (15th of 17 countries) in 2024. Its per capita GDP experienced rapid growth through the mid-2000s (grew by 7.1% per annum in the 10 years through 2006), but has since stagnated and then declined (shrank by 1.8% per annum in the 10 years through 2023). Growth through the mid-2000s was fueled by investments in liquefied natural gas (LNG) and petrochemicals. Additional petrochemical, aluminium...

Read on Wikipedia · Image Christianwelsh (talk), Public domain