The Trinidad and Tobago economy is well known for being an excellent investment site for multinational businesses. The country has one of the highest growth rates and per capita incomes in Latin America. The economy grew by more than 8% between 2000 and 2007. However, due to the global economic downturn in 2008-2009, the T&T economy contracted by 2.7% in 2009. The nation’s growth has been fueled by investments in the LNG sector, and is heavily dependent on oil and natural gas production. T&T is a renowned financial center in the region and is a leading economy in the Caribbean.
Trinidad and Tobago’s GDP - official exchange rate in 2009 was $23 billion. The following chart shows Trinidad and Tobago’s GDP-PPP during 2007-2009. (All data are in US dollars.)
The chart below shows T&T’s GDP - real growth rate during 2007-2009. (All data are in percentages.)
The next chart shows T&T’s GDP - per capita during 2007-2009. (All data are in US dollars.)
The following chart illustrates a breakdown of Trinidad and Tobago’s GDP by sectors. (All data are in percentages.)
T&T’s total labor force stood at 629,200, according to the 2009 estimates. The rate of unemployment in T&T was 7.5% in 2009, up from 4.6% in 2008. The next chart illustrates Trinidad and Tobago’s breakup of labor force by occupation in various sectors. (All data are in percentages.)