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Trinidad and Tobago has earned a reputation as an excellent investment site for international businesses and has one of the highest growth rates and per capita incomes in Latin America. Economic growth between 2000 and 2007 averaged slightly over 8%, significantly above the regional average of about 3.7% for that same period; however, it has slowed down since then and contracted about 3.5% in 2009. Growth has been fueled by investments in liquefied natural gas (LNG), petrochemicals, and steel. Additional petrochemical, aluminum, and plastics projects are in various stages of planning. Trinidad and Tobago is the leading Caribbean producer of oil and gas, and its economy is heavily dependent upon these resources but it also supplies manufactured goods, notably food products and beverages, as well as cement to the Caribbean region. Oil and gas account for about 40% of GDP and 80% of exports, but only 5% of employment. The country is also a regional financial center, and tourism is a growing sector, although it is not as important domestically as it is to many other Caribbean islands. The economy benefits from a growing trade surplus. The MANNING administration has benefited from fiscal surpluses fueled by the dynamic export sector; however, declines in oil and gas prices have reduced government revenues which will challenge his government's commitment to maintaining high levels of public investment.
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$26.19 billion (2009 est.)
country comparison to the world: 111
$27.05 billion (2008 est.)
$26.14 billion (2007 est.)
note:
data are in 2009 US dollars
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$20.38 billion (2009 est.)
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-3.2% (2009 est.)
country comparison to the world: 167
3.5% (2008 est.)
5.5% (2007 est.)
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$21,300 (2009 est.)
country comparison to the world: 57
$22,000 (2008 est.)
$21,200 (2007 est.)
note:
data are in 2009 US dollars
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agriculture: 0.5%
industry:
59.2%
services:
40.3% (2009 est.)
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629,000 (2009 est.)
country comparison to the world: 152
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agriculture: 3.8%
manufacturing, mining, and quarrying:
12.8%
construction and utilities:
20.4%
services:
62.9% (2007 est.)
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5.8% (2009 est.)
country comparison to the world: 51
4.6% (2008 est.)
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17% (2007 est.)
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lowest 10%: NA%
highest 10%:
NA%
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11.4% of GDP (2009 est.)
country comparison to the world: 146
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revenues: $6.036 billion
expenditures:
$7.513 billion (2009 est.)
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26% of GDP (2009 est.)
country comparison to the world: 91
27.2% of GDP (2008 est.)
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7% (2009 est.)
country comparison to the world: 167
12% (2008 est.)
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10.75% (31 December 2008)
country comparison to the world: 41
10% (31 December 2007)
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12.44% (31 December 2008)
country comparison to the world: 75
11.75% (31 December 2007)
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$3.047 billion (31 December 2008)
country comparison to the world: 82
$2.646 billion (31 December 2007)
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$6.795 billion (31 December 2008)
country comparison to the world: 73
$5.707 billion (31 December 2007)
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$3.423 billion (31 December 2008)
country comparison to the world: 93
$3.73 billion (31 December 2007)
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$11.15 billion (31 December 2009)
country comparison to the world: 66
$12.16 billion (31 December 2008)
$15.61 billion (31 December 2007)
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cocoa, rice, citrus, coffee, vegetables; poultry
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petroleum and petroleum products, liquefied natural gas (LNG), methanol, ammonia, urea, steel products, beverages, food processing, cement, cotton textiles
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-5% (2009 est.)
country comparison to the world: 113
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7.202 billion kWh (2007 est.)
country comparison to the world: 101
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7.034 billion kWh (2007 est.)
country comparison to the world: 99
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0 kWh (2008 est.)
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0 kWh (2008 est.)
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151,600 bbl/day (2009 est.)
country comparison to the world: 45
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43,000 bbl/day (2009 est.)
country comparison to the world: 101
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248,300 bbl/day (2007 est.)
country comparison to the world: 46
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92,480 bbl/day (2007 est.)
country comparison to the world: 66
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728.3 million bbl (1 January 2009 est.)
country comparison to the world: 42
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39.3 billion cu m (2008 est.)
country comparison to the world: 21
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21.94 billion cu m (2008 est.)
country comparison to the world: 32
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17.36 billion cu m (2008 est.)
country comparison to the world: 13
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0 cu m (2008 est.)
country comparison to the world: 122
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531.5 billion cu m (1 January 2009 est.)
country comparison to the world: 32
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$1.76 billion (2009 est.)
country comparison to the world: 37
$8.294 billion (2008 est.)
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$9.175 billion (2009 est.)
country comparison to the world: 82
$18.69 billion (2008 est.)
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petroleum and petroleum products, liquefied natural gas (LNG), methanol, ammonia, urea, steel products, beverages, cereal and cereal products, sugar, cocoa, coffee, citrus fruit, vegetables, flowers
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US 38.53%, Jamaica 8.86%, Spain 6.88%, Mexico 6.23% (2009)
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$6.974 billion (2009 est.)
country comparison to the world: 100
$9.845 billion (2008 est.)
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mineral fuels, lubricants, machinery, transportation equipment, manufactured goods, food, chemicals, live animals
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US 30.87%, Colombia 7.1%, Venezuela 7.01%, Russia 6.64%, Brazil 5.53%, China 4.19% (2009)
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$9.246 billion (31 December 2009 est.)
country comparison to the world: 70
$9.496 billion (31 December 2008 est.)
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$2.079 billion (31 December 2009 est.)
country comparison to the world: 132
$3.289 billion (31 December 2008 est.)
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$102 billion (31 December 2008 est.)
country comparison to the world: 33
$12.44 billion (2007)
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$3.829 billion (2007)
country comparison to the world: 61
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Trinidad and Tobago dollars (TTD) per US dollar - 6.2993 (2009), 6.2896 (2008), 6.3275 (2007), 6.3107 (2006), 6.2842 (2005)
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