Information

Economic background:

Trinidad and Tobago has the most diversified and industrialized economy in the English speaking Caribbean.  There are large reserves of petroleum and natural gas and well developed heavy industries –iron and steel, methanol and nitrogenous fertilizers and petroleum products. Air, sea and land transportation links are excellent and telecommunication links with the Americas and Europe are completely modern. The Government's economic policy is in line with prevailing market principles, trade liberalization, open market driven economy, promotion of private enterprise and foreign investment, and development of exports and tourism.

The Trinidad and Tobago government offers incentives to persons or organisations who are making an investment into the country. Investors for the Piarco AeroPark will qualify to be considered for the Tourism Development Incentive.  

For further information on investing in Trinidad and Tobago, click on to: the website for invesTT Trinidad and Tobago - http://www.investt.co.tt/

the Tourism Development Company Limited’s Website - http://www.tdc.co.tt/development_incentive.htm

Government:

The Republic of Trinidad and Tobago achieved independence from Britain in 1962 followed by republican status in 1976. The twin-island nation is currently a member of the Commonwealth and holds fully democratic elections every five (5) years, since 1956. The country continues to maintain its reputation for political stability.

Population:

  • 1.3 million

GDP (PPP)

  • $27.14 billion   (2013 est.)
  • $26.71 billion     (2012 est.)
  • $26.66 billion     (2011) est.)

Note: data are in 2013 US dollars

GDP- real growth rate

  • 1.6%    (2013 est.)
  • 0.2%    (0.2% est.)
  • -2.6%   (2011 est.)

GDP- Per capita (PPP)

  • $20,300 (2013 est.)
  • $20,100 (2012 est.)
  • $20,100 (2011 est.)

Note: data are in 2013 US dollars

FDI Inflow

  • 1.7 billion

Unemployment:

  • 5.9% (2013 est.)
  • 5.6% (2012 est.)

Inflation (CPI)

  • 5.4% (2013 est.)
  • 9.2% (2012 est.)

Currency

  • The currency used in the Trinidad and Tobago (TT) dollar
  • A floating rate system is in force.
  • Currency $1US = $6.30 TT

Language

  • English

Time Zone

  • Summer, EST (Eastern Standard Time) equivalent to GMT (Greenwich Mean Time)- 5 hours);
  • Winter: EST +1, GMT-4
  • Daylight savings time is not observed in Trinidad and Tobago.

 

Climate & Weather

  • Trinidad and Tobago has a warm, sunny, tropical climate year round. The average daytime temperature is 28 degrees Celsius, year round.