Trinidad and Tobago:
Economy

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Economy - overview	Definition Trinidad and Tobago has earned a reputation as an excellent investment site for international businesses and has one of the highest growth rates and per capita incomes in Latin America. Recent growth has been fueled by investments in liquefied natural gas (LNG), petrochemicals, and steel. Additional petrochemical, aluminum, and plastics projects are in various stages of planning. Trinidad and Tobago is the leading Caribbean producer of oil and gas, and its economy is heavily dependent upon these resources but it also supplies manufactured goods, notably food and beverages, as well as cement to the Caribbean region. Oil and gas account for about 40% of GDP and 80% of exports, but only 5% of employment. The country is also a regional financial center, and tourism is a growing sector, although it is not proportionately as important as in many other Caribbean islands. The economy benefits from a growing trade surplus. Economic growth reached 12.6% in 2006 and 5.5% in 2007 as prices for oil, petrochemicals, and LNG remained high, and as foreign direct investment continued to grow to support expanded capacity in the energy sector.
GDP (purchasing power parity)	Definition - World rank and map $23.79 billion (2007 est.)
GDP (official exchange rate)	Definition $20.7 billion (2007 est.)
GDP - real growth rate	Definition - World rank and map 5.5% (2007 est.)
GDP - per capita	Definition - World rank and map $18,300 (2007 est.)
GDP - composition by sector	Definition agriculture: 0.6% industry: 61.9% services: 37.5% (2007 est.)
Labor force	Definition 615,000 (2007 est.)
Labor force - by occupation	Definition agriculture 4%, manufacturing, mining, and quarrying 12.9%, construction and utilities 17.5%, services 65.6% (2006 est.)
Unemployment rate	Definition - World rank and map 6.5% (2007 est.)
Population below poverty line	Definition 17% (2007 est.)
Household income or consumption by percentage share	Definition lowest 10%: NA% highest 10%: NA%
Inflation rate (consumer prices)	Definition - World rank and map 7.9% (2007 est.)
Investment (gross fixed)	Definition - World rank and map 23.5% of GDP (2007 est.)
Budget	Definition revenues: $6.415 billion expenditures: $6.214 billion (2007 est.)
Public debt	Definition - World rank and map 26.6% of GDP (2007 est.)
Agriculture - products	Definition cocoa, rice, citrus, coffee, vegetables; poultry
Industries	Definition petroleum, chemicals, tourism, food processing, cement, beverage, cotton textiles
Industrial production growth rate	Definition - World rank and map 8% (2007 est.)
Electricity - production	Definition - World rank and map 7.704 billion kWh (2007)
Electricity - consumption	Definition - World rank and map 7.083 billion kWh (2007)
Electricity - consumption per capita	Definition - World rank and map 6,762.7 kWh (2007)
Electricity - exports	Definition 0 kWh (2005)
Electricity - imports	Definition 0 kWh (2005)
Oil - production	Definition - World rank and map 120,000 bbl/day (2007 est.)
Oil - consumption	Definition - World rank and map 24,770 bbl/day (2007 est.)
Oil - consumption per 1,000 people	Definition - World rank and map 23.6 bbl/day (2007 est.)
Oil - exports	Definition - World rank and map 202,100 bbl/day (2004)
Oil - imports	Definition - World rank and map 91,780 bbl/day (2004)
Oil - proved reserves	Definition - World rank and map 605.8 million bbl (1 January 2007 est.)
Natural gas - production	Definition - World rank and map 39.92 billion cu m (2007 est.)
Natural gas - consumption	Definition - World rank and map 37.29 billion cu m (2007 est.)
Natural gas - consumption per capita	Definition - World rank and map 35,604 cu m (2007 est.)
Natural gas - exports	Definition - World rank and map 21.03 billion cu m (2007 est.)
Natural gas - imports	Definition - World rank and map 0 cu m (2007)
Natural gas - proved reserves	Definition - World rank and map 702.8 billion cu m (1 January 2007 est.)
Current account balance	Definition - World rank and map $4.171 billion (2007 est.)
Exports	Definition - World rank and map $12.02 billion f.o.b. (2007 est.)
Exports - commodities	Definition petroleum and petroleum products, liquefied natural gas (LNG), methanol, ammonia, urea, steel products, beverages, cereal and cereal products, sugar, cocoa, coffee, citrus fruit, vegetables, flowers
Exports - partners	Definition US 58%, Jamaica 5.9%, Spain 4% (2006)
Imports	Definition - World rank and map $7.485 billion f.o.b. (2007 est.)
Imports - commodities	Definition mineral fuels, lubricants, machinery, transportation equipment, manufactured goods, food, live animals, grain
Imports - partners	Definition US 28.3%, Brazil 12.5%, Venezuela 6.9%, Gabon 5%, Colombia 4.8%, China 4.2% (2006)
Reserves of foreign exchange and gold	Definition - World rank and map $6.761 billion (31 December 2007 est.)
Debt - external	Definition - World rank and map $2.826 billion (31 December 2007 est.)
Stock of direct foreign investment - at home	Definition $12.44 billion (2007)
Stock of direct foreign investment - abroad	Definition $1.419 billion (2007)
Market value of publicly traded shares	Definition $15.57 billion (2006)
Economic aid - recipient	Definition $200,000 (2007 est.)
Currency (code)	Definition Trinidad and Tobago dollar (TTD)
Exchange rates	Definition Trinidad and Tobago dollars per US dollar - 6.3275 (2007), 6.3107 (2006), 6.2842 (2005), 6.299 (2004), 6.2951 (2003)
Fiscal year	Definition 1 October - 30 September

Trinidad and Tobago: Economy

Trinidad and Tobago:
Economy