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Trinidad and Tobago Economy - 2002 https://greekorthodoxchurch.org/wfb2002/trinidad_and_tobago/trinidad_and_tobago_economy.html SOURCE: 2002 CIA WORLD FACTBOOK Economy - overview Trinidad and Tobago has earned a reputation as an excellent investment site for international businesses. A leading performer in the past 4 years has been the booming natural gas sector. Tourism is a growing sector, although not proportionately as important as in many other Caribbean islands. The expected recovery of the global economy, along with anticipated higher oil prices, are plus factors for 2002. Negative factors are persistent high unemployment and the political uncertainties following the contentious selection of a new government in December 2001. GDP purchasing power parity - $10.6 billion (2001 est.) GDP - real growth rate 4% (2001 est.) GDP - per capita purchasing power parity - $9,000 (2001 est.) GDP - composition by sector
Population below poverty line 21% (1992 est.) Household income or consumption by percentage share
Inflation rate (consumer prices) 5.6% (2001 est.) Labor force 564,000 (2000) Labor force - by occupation construction and utilities 12.4%, manufacturing, mining, and quarrying 14%, agriculture 9.5%, services 64.1% (1997 est.) Unemployment rate 11.8% (2001) Budget
Industries petroleum, chemicals, tourism, food processing, cement, beverage, cotton textiles Industrial production growth rate 4.2% (2001) Electricity - production 5.153 billion kWh (2000) Electricity - production by source
Electricity - consumption 4.792 billion kWh (2000) Electricity - exports 0 kWh (2000) Electricity - imports 0 kWh (2000) Agriculture - products cocoa, sugarcane, rice, citrus, coffee, vegetables; poultry Exports $4.1 billion (f.o.b., 2001 est.) Exports - commodities petroleum and petroleum products, chemicals, steel products, fertilizer, sugar, cocoa, coffee, citrus, flowers Exports - partners US 45.9%, Caricom countries 26.1%, Latin America 9.5%, EU 5.7% (1999) Imports $3.5 billion (f.o.b., 2001 est.) Imports - commodities machinery, transportation equipment, manufactured goods, food, live animals Imports - partners US 39.8%, Venezuela 11.9%, EU 11%, Caricom 4.8% (1999) Debt - external $2.2 billion (2000 est.) Economic aid - recipient $24 million (1999 est.) Currency Trinidad and Tobago dollar (TTD) Currency code TTD Exchange rates Trinidad and Tobago dollars per US dollar - 6.2466 (January 2002), 6.2332 (2001), 6.2998 (2000), 6.2989 (1999), 6.2983 (1998), 6.2517 (1997) Fiscal year
1 October - 30 September
NOTE: The information regarding Trinidad and Tobago on this page is re-published from the 2002 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Trinidad and Tobago Economy 2002 information contained here. All suggestions for corrections of any errors about Trinidad and Tobago Economy 2002 should be addressed to the CIA. |