Industry & Retail

Industry and retail, once the focus of diversification efforts, represent important possible revenue generators in their own right. Trinidad and Tobago is one of the larger exporters in the Caribbean region, with total exports for the year to September 2019 amounting to $24.7bn. In an effort to generate foreign exchange, companies are being pushed to increase exports. Significantly, the government also hopes to double manufacturing output between 2020 and 2025. The future for industry is therefore relatively bright despite a number of challenges. The retail sector has been impacted by the national economy’s recent period of slow growth, with consumer behaviour, including reduced consumption and evolving spending patterns, accounting for shortfalls in an otherwise promising sector. However, with new investments and growing penetration of large retailers in the region, the sector is in good health. This chapter contains interviews with Dominic Hadeed, Managing Director, Blue Waters; and Gervase Warner, President and Group CEO, Massy Holdings.