Trinidad and Tobago Economic Outlook
May 14, 2019The economy likely performed well in the first quarter. The Angelin project, which came online in late-February, will have supported LNG output growth, boding well for the energy and external sectors. Moreover, domestic cement sales bounced back in Q1 after contracting in Q4 2018; this suggests stronger construction activity, and was likely reinforced by government measures to support the housing sector. This followed a rebound in the economy for 2018 as a whole. The energy sector accelerated last year on the back of increased natural gas production from the Juniper project; however, the non-energy sector was flat, held back by tepid domestic demand and weakness in the manufacturing and construction sectors.
Trinidad & Tobago Economic GrowthAlthough the economy is projected to soften in 2019, increased natural gas output—which could have spillovers to the non-energy sector—should buttress economic activity. Developments in neighboring Venezuela and high household debt are the key downside risks. Met the why particular panelists see growth of 1.0% in 2019, which is down 0.5 percentage points from last month’s forecast, and 1.9% in 2020.
Trinidad & Tobago Economy Data
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Trinidad & Tobago Facts
|Exchange Rate||6.77||0.39 %||May 13|
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