Economy Overview: Trinidad and Tobago has gained a reputation as an excellent destination for foreign investment. In 1995, successful economic reforms were carried out, foreign investment and international trade are growing. Persistently high unemployment is one of the main problems that the government must deal with. The petrochemicals sector is driving growth in other related sectors of the economy, underpinning the government’s efforts to diversify the economy. Tourism is on the rise, especially in the pleasure yacht sector. New investment and construction will also boost the economy. See topb2bwebsites.com to know more about Trinidad and Tobago in 2004. GDP: at purchasing power parity – $11.2 billion (2000 est.). Real GDP growth rate: 5% (2000 est.). GDP per capita: at purchasing power parity – $9,500 (2000 est.). The composition of GDP by sectors of the economy: agriculture: 2%; industry: 44%; services: 54% (1998 est.). Proportion of population below the poverty line: 21% (1992 est.). Percentage distribution of household income or consumption: 10% of the poorest households account for: n/a; 10% of the wealthiest families account for: no data. Inflation rate at consumer prices: 3.2% (2000 est.). Labor force: 558,700 people (1998). Employment structure: construction and utilities 12.4%, industry, mining 14%, agriculture 9.5%, services 64.1% (1997 est.). Unemployment rate: 12.8% (2000). Budget: revenues: $1.54 billion; expenses: $1.6 billion, including capital investments – $117.3 million (1998). Economic sectors: oil, chemical industry, tourism, food production, cement, beverages, cotton textiles. Growth in industrial production: 3.8% (2000). Electricity generation: 4.9 billion kWh (1999) Sources of electricity generation: fossil fuels: 99.59%; hydropower: 0%; nuclear fuel: 0%; others: 0.41% (1999). Electricity consumption: 4.557 billion kWh (1999) Electricity export: 0 kWh (1999). Electricity import: 0 kWh (1999). Agricultural products: cocoa, sugarcane, rice, citrus fruits, coffee, vegetables; Domestic bird. Export: $3.2 billion (free on board, 2000) Exports: oil and oil products, chemicals, steel products, fertilizers, sugar, cocoa, coffee, citrus fruits, flowers. Export partners: USA 39.3%, CA-RICOM countries 26.1%, Central and South American countries 9.5%, EU 5.7% (1999). Imports: $3 billion (free on board, 2000 est.) ; Imports: machinery, transport equipment, manufactured goods, foodstuffs, live animals. Import partners: USA 39.8%, Venezuela 11.9%, EU 11%, CARICOM countries 4.8% (1999), ? External debt: $2.8 billion (2000 est.). Economic aid recipient: $121.4 (1995) Economic aid donor: Currency: Trinidad and Tobago dollar. Currency code: TTD. Exchange rate: TTD/USD – 6.2688 2001), 6.2998 (2000), 6.2989 (1999), 6.2983 (1998), 6.2517 (1997), 6.0051 (1996). Fiscal year: October 1-September 30.
Telecommunications
Telecommunications Telephone lines: 243,000 (1997). Mobile cellular telephones: 17 411 (1997) Telephone system: excellent international service; good local service; internal: no data; international: satellite earth stations: 1 Intelsat (Atlantic Ocean); troposcatter link with Barbados and Guyana. Broadcast stations: AM -2, FM -12, shortwave – 0 (1998). Radio receivers: 680,000 (1997). Television broadcast stations: 4 (1997). TVs: 425,000 (1997). Internet Country Code: tt Internet Service Providers: 17 (2000). Number of users: 30,000 (2000).
Transport
Transportation Railroads: Small agricultural railroad system near San Fernando; other rail services ceased in 1968. Roads: total: 8,320 km; coated: 4,252 km; unpaved: 4,068 km (1996 est.). Pipelines: for crude oil -1,032 km; for oil products -19 km; for natural gas – 904 km. Ports and harbors: Point Laysas, Point Fortin, Port of Spain, Pointe-a-Pierre, Scarborough, Tembladora. Merchant fleet: total: 2 vessels (displacement 1,000 tons or more) with a total displacement of 2,439 gross register tons / 4,040 long tons of gross tonnage; ships of different types: cargo ships – 1, oil tankers – 1 (2000 est.). Airports: 6 (2000 est.). Airports with paved runways: total: 3; over 3,047 m: 1; from 2438 to 3047 m: 1; from 1524 to 2437 m: 1 (2000 est.). Airports with unpaved runways: total: 3; from 914 to 1,523 m;1; less than 914 m: 2 (2000 est.).
Armed forces
Branches of the armed forces: Trinidad and Tobago Defense Force (includes ground forces, coast guard and air units), Trinidad and Tobago Police Service. Total military manpower: male 15 to 49: 346,043 (2001 est.). Eligible for military service: males aged 15 to 49: 247,297 (2001 est.). Number of persons reaching military age each year: Military spending in dollar terms: $83 million (FY94). Military spending as part of GDP: no data available.
International Issues
International issues International disputes: no. Illicit Drugs: transit point for drugs from South America destined for the US and Europe; hemp production.
