Trinidad and Tobago Economic Outlook
November 6, 2018The economic performance in the second and third quarters was likely buttressed by the hydrocarbon sector, thanks both to higher oil prices and an uptick in natural gas output on the back of BP’s Juniper project. These developments buoyed the fiscal position, helping the deficit narrow markedly through June, with the positive effects set to continue in H2. On the other hand, oil-sector activity will likely soften somewhat in Q4 as state-run company Petrotrin halted its oil refining operations in October while the company is restructuring, with the indefinite closing of the island’s only refinery scheduled for 30 November.
Trinidad & Tobago Economic GrowthGrowth appears poised to accelerate next year due to greater natural gas output, as the Angelin project comes on line. The country’s vulnerability to a downturn in energy prices, however, remains a significant downside risk. Met the why particular panelists expect growth of 1.7% in 2019, down 0.1 percentage points from last month’s forecast, and 1.6% in 2020.
Trinidad & Tobago Economy Data
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Trinidad & Tobago Facts
|Exchange Rate||6.74||0.39 %||Nov 15|
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