Trinidad and Tobago Economic Outlook
January 15, 2019The economy likely lost momentum in the third quarter, as natural gas production was depressed by maintenance at multiple facilities and a high base effect given that BP’s Juniper project became operational in August 2017. Methanol production faced similar challenges due to repair work, while crude oil production was soft. Looking to the fourth quarter, central bank data revealed a mixed start to the quarter as annual growth of LNG and natural gas production was elevated in October, while oil production contracted. In December, BP gave a green light to two natural gas projects, which should support growth in the medium-term.
Trinidad & Tobago Economic GrowthGrowth should tick down in 2019, buttressed by natural gas output and domestic consumption. However, vulnerability to fluctuations in energy prices and high household debt pose downside risks. Met the why particular panelists see growth of 1.7% in 2019, down 0.1 percentage points from last month’s forecast, and 1.7% again in 2020.
Trinidad & Tobago Economy Data
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Trinidad & Tobago Facts
|Exchange Rate||6.78||0.39 %||Jan 21|
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