Although in many ways similar to other Caribbean nations, Trinidad and Tobago has a number of characteristics that clearly set it apart from its neighbours. Within the region, T&T shares membership in a number of both regional and international organisations.
Trinidad and Tobago can be described as an imperfect but vibrant democracy. While there are different assessments of the strength of its institutions, there is unanimity on the value of its democratic tradition. It has had uninterrupted democratic rule since independence in 1962. T&T’s reputation for free and robust debate will be on display in 2015, a general...
Comparatively wealthy and economically diverse with active finance, manufacturing and transport sectors, Trinidad and Tobago is also the largest Caribbean oil producer and the world’s sixth-largest exporter of liquefied natural gas (LNG). It has an ethnically diverse population, strong democratic traditions, and a vibrant local cultural and sporting life.
As a small twin-island nation, foreign trade is an important part of Trinidad and Tobago’s economy. In 2014 merchandise exports and merchandise imports amounted to $11.81bn and $8.39bn, respectively, according to the central bank’s “2014 Annual Economic Survey”, with total GDP that year reaching around $28bn. Some 85% of exports are accounted for by the energy sector,...
Despite its small size, Trinidad and Tobago ranks highly on a number of economic development indicators. According to estimates by the IMF, per capita income in T&T was $21,310 in 2014, the third-highest level in the Americas, after the US and Canada. Meanwhile, the World Bank categorises T&T as a high-income, non-OECD nation, while the World Economic Forum (WEF...
Trinidad and Tobago was one of 10 countries identified by the World Bank in its “Doing Business 2015” report as having improved the most in terms of the ease of doing business through 2013-14. Of the 189 countries assessed by the organisation, T&T’s overall rank was 79th. By this measure, it compares favourably with other CARICOM and Latin America countries....
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