Trinidad and Tobago Industry Sectors

 Trinidad and Tobago industry sectors have long been generous contributors to the nation’s economy. Industries like those producing raw materials for farming, sugar, molasses and rum are the prominent ones in the Caribbean. Other industries include fish and fish products, lumber, fats and oils, and stock feed manufacturing. In addition, manufacturing products include matches, angostura bitters, soap, and confectionery and clay products.

 Trinidad and Tobago industry sectors have long been generous contributors to the nation’s economy. Industries like those producing raw materials for farming, sugar, molasses and rum are the prominent ones in the Caribbean. Other industries include fish and fish products, lumber, fats and oils, and stock feed manufacturing. In addition, manufacturing products include matches, angostura bitters, soap, and confectionery and clay products. Newer industries include petroleum refining, petrochemicals, concrete products, canned citrus, bottled drinks, glass, drugs, chemicals, clothing, building materials and metal goods. The following chart shows Trinidad and Tobago’s (T&T) industrial production growth rate during 2003-2009. (All data are in percentages.)[br]

 

 

Trinidad and Tobago Industries: Information and Communication Technology

Trinidad and Tobago (T&T) presents a number of favorable factors for the development of this sector in the region. Apart from low energy and labor costs, an educated workforce, a stable and growing economy, and economic incentives, T&T has the required infrastructure to become a major hub of the ICT industry in the Western Hemisphere. T&T has a number of advantages:

 

• A robust and growing technology infrastructure and backbone

• Low telephone subscription costs

• High internet affordability rates

• Wide use of internet based payment systems

• Stable economy to attract venture capital

Trinidad and Tobago Industries: Food and Beverage[br]

The food and beverage industry is currently the largest in the non-energy manufacturing sector in Trinidad and Tobago. This sector employs more than 10,000 people and contributes significantly to reducing this country’s food import bill. The food and beverage industry is a vital ingredient of an already established value chain, since it builds links with printing and packaging, research and development, and training. The F&B sector continues to grow in the country, with real GDP growth averaging 8.1% between 2002 and 2005, exports of over TT$900 million, and employing more than 10,000 persons. This industry manufactures rum flavored chocolate cakes, Caribbean fruitcakes, sauces and spices, soft drinks and exotic fruit juices, specialty rums and bottled water. The advantages enjoyed by the F&B industry in T&T are:

 

• Proven successful track record of both established multinational and local companies, including Nestle, Unilever, Coca-Cola and Carib Breweries.

• Geographical advantage with close proximity to the North American and South American markets

• Low production and export costs

• Strategic shipping and trade advantage

• Highly integrated turnkey service from product inception to packaging