Trinidad and Tobago Economic Outlook
September 12, 2018Dynamics in the hydrocarbon sector continue to drive the economy in H2 2018, after higher energy prices supported a recovery in H1. On 25 August the government signed a deal with Venezuela to purchase 150 MMcf/d of natural gas, securing supply for the island’s LNG-processing industry and attracting USD 160 million of investment to build a pipeline between the two countries. However, on 28 August, the government ordered the closure of refining operations by 1 October at the island’s largest oil refinery, Petrotrin, after years of heavy losses amid subdued oil production. The oil and gas trade union responded by threatening a general strike, which could derail the economy and cause political instability in coming weeks.
Trinidad & Tobago Economic GrowthGrowth should accelerate in 2018 and over the following few years as new gas projects come online, notably BP’s Angelin in 2019 and Cassia in 2020, which should also support recovery in the non-oil economy. Met the why particular panelists expect growth of 1.4% this year, unchanged from last month’s forecast, and 2.0% in 2019.
Trinidad & Tobago Economy Data
5 years of Trinidad & Tobago economic forecasts for more than 30 economic indicators.
Get a sample report showing all the data and analysis covered in our Regional, Country and Commodities reports.
Trinidad & Tobago Facts
|Exchange Rate||6.74||0.39 %||Sep 24|
Start Your Free Trial
Start working with the reports used by the world’s major financial institutions, multinational enterprises & government agencies now. Click on the button below to get started.