Investment Climate

Investment Climate

After over 140 years of success in oil and gas, Trinidad and Tobago has a well-established economy.

  • #1

    In the Caribbean for Sourcing Electricity (Doing Business 2020 report, World Bank Group. T&T ranks 43 out of 190 world economies)
  • #1

    Lowest cost of electricity (
  • #3

    In the Caribbean for Starting a Business (Doing Business 2020 report, World Bank Group. T&T ranks 79 out of 190 world economies)
  • #5

    In Market Access and Infrastructure in LatAm and the Caribbean (FDI Benchmark based on Legatum Institute, 2019)

Contributions to GDP by key productive sectors (2021)

T&T benefits from being among the region's largest economies, with a well-developed hydrocarbon sector that provides energy to much of South America and beyond. In 2020, its energy sector accounted for more than 73% of total exports and 24% of government revenue.

Trade and Repairs21.6
Mining and Quarrying15.8
Public Administration7.9
Financial and Insurance Activities8.2
Electricity and Gas3.2
Transport and Storage2.5
Information and Communication3.0
Administrative and Support Services2.6
Real estate activities2.1
Professional, scientific and technical; Accommodation and food services; Water supply and Sewerage; Human health and social work; Other service activities; Arts, entertainment and recreation; Domestic services 5.5
Agriculture, Forestry, and Fishing0.6

Key Economic Indicators

  • US $18,222

    GDP per capita (CSO 2023)
  • 8.7%

    Headline Inflation (IMF, Dec 2022)
  • 5.4%

    Unemployment rate Q3 2022
  • BBB-

    Standard & Poor's (July 2022)
  • US $28Bn

    GDP at Current Prices (CSO 2023)
  • Ba1

    Moody’s Investment Grade Status (May 2020)
  • 595,200

    Labour Force (2023)

Major Trading Partners

  • Venezuela
  • Cuba
  • United States of America
  • Canada
  • Colombia
  • Costa Rica
  • South Korea
  • Japan
  • China

Major Exports

  • Petroleum Gases
  • Non Crude Oil
  • Crude Oil
  • Ammonia
  • Acyclic Alcohols
  • Spongy Iron - 99.94% pure
  • Nitrogenous Fertilizers
  • Iron & Steel Bars & Rods - Irregular Coils
  • Fresh Fish
  • Soft Drinks

Manufactured Goods

  • Food, beverages and tobacco
  • Chemicals and non-metallic minerals
  • Assembly type and related products
  • Cement
  • Iron and steel

Major Imports

  • Vehicles
  • Heavy machinery and transport equipment
  • Food and beverages
  • Mineral fuels and lubricants
  • Chemicals and related products
  • Animal fats and vegetable oils

Gross Domestic Product 2022

EconomyBillions in US Dollars
Trinidad & Tobago20.746
The Bahamas32.246
Guyana (2021)9.998
Antigua & Barbuda16.786
St Lucia10.762
St Kitts & Nevis19.128
St Vincent & the Grenadines8.546
Source: International Monetary Fund, World Economic Outlook Database, 2022