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Trinidad and Tobago Economy 2007
https://allcountries.org/wfb2007/trinidad_and_tobago/trinidad_and_tobago_economy.html
SOURCE: 2007 CIA WORLD FACTBOOK

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Economy - overview:
Trinidad and Tobago, the leading Caribbean producer of oil and gas, has earned a reputation as an excellent investment site for international businesses. 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 in 2006 reached 12.6% as prices for oil, petrochemicals, and liquefied natural gas remained high, and foreign direct investment continued to grow to support expanded capacity in the energy sector. The government is coping with a rise in violent crime.

GDP (purchasing power parity):
$21.06 billion (2006 est.)

GDP (official exchange rate):
$14.87 billion (2006 est.)

GDP - real growth rate:
11.7% (2006 est.)

GDP - per capita (PPP):
$19,800 (2006 est.)

GDP - composition by sector:
agriculture: 0.7%
industry: 59.8%
services: 39.4% (2006 est.)

Labor force:
625,000 (2006 est.)

Labor force - by occupation:
agriculture 9.5%, manufacturing, mining, and quarrying 14%, construction and utilities 12.4%, services 64.1% (1997 est.)

Unemployment rate:
7% (2006 est.)

Population below poverty line:
21% (1992 est.)

Household income or consumption by percentage share:
lowest 10%: NA%
highest 10%: NA%

Inflation rate (consumer prices):
8.3% (2006 est.)

Investment (gross fixed):
18.3% of GDP (2006 est.)

Budget:
revenues: $6.096 billion
expenditures: $4.919 billion (2006 est.)

Public debt:
37.5% of GDP (2006 est.)

Agriculture - products:
cocoa, rice, citrus, coffee, vegetables; poultry

Industries:
petroleum, chemicals, tourism, food processing, cement, beverage, cotton textiles

Industrial production growth rate:
17% (2006 est.)

Electricity - production:
6.627 billion kWh (2005)

Electricity - consumption:
6.163 billion kWh (2005)

Electricity - exports:
0 kWh (2005)

Electricity - imports:
0 kWh (2005)

Oil - production:
150,000 bbl/day (2005 est.)

Oil - consumption:
34,000 bbl/day (2004 est.)

Oil - exports:
NA bbl/day

Oil - imports:
NA bbl/day

Oil - proved reserves:
990 million bbl (1 January 2006)

Natural gas - production:
29.04 billion cu m (2005 est.)

Natural gas - consumption:
15.6 billion cu m (2005 est.)

Natural gas - exports:
13.44 billion cu m (2005 est.)

Natural gas - imports:
0 cu m (2005)

Natural gas - proved reserves:
702.8 billion cu m (1 January 2006 est.)

Current account balance:
$4.655 billion (2006 est.)

Exports:
$12.1 billion f.o.b. (2006 est.)

Exports - commodities:
petroleum and petroleum products, chemicals, steel products, fertilizer, sugar, cocoa, coffee, citrus, flowers

Exports - partners:
US 59.8%, Spain 5.3%, Jamaica 5.2% (2006)

Imports:
$6.843 billion f.o.b. (2006 est.)

Imports - commodities:
machinery, transportation equipment, manufactured goods, food, live animals

Imports - partners:
US 30.6%, Brazil 12%, Venezuela 6.8%, Gabon 4.8%, Colombia 4.6% (2006)

Economic aid - recipient:
$2.09 million (2005 est.)

Reserves of foreign exchange and gold:
$6.609 billion (2006 est.)

Debt - external:
$2.729 billion (2006 est.)

Stock of direct foreign investment - at home:
$NA

Stock of direct foreign investment - abroad:
$NA

Market value of publicly traded shares:
$15.57 billion (2006)

Currency (code):
Trinidad and Tobago dollar (TTD)

Exchange rates:
Trinidad and Tobago dollars per US dollar - 6.3107 (2006), 6.2842 (2005), 6.299 (2004), 6.2951 (2003), 6.2487 (2002)

Fiscal year:
1 October - 30 September


NOTE: The information regarding Trinidad and Tobago on this page is re-published from the 2007 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Trinidad and Tobago Economy 2007 information contained here. All suggestions for corrections of any errors about Trinidad and Tobago Economy 2007 should be addressed to the CIA.



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