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• GDP: US$14 billion (2005).
• Main exports: Petroleum and petroleum products, natural gas, manufactured goods, food and beverages.
• Main imports: Machinery, mineral fuels, manufactured goods, food and live animals.
• Main trade partners: USA, Venezuela, Brazil, Jamaica, Spain, and Germany.
• Main exports: Petroleum and petroleum products, natural gas, manufactured goods, food and beverages.
• Main imports: Machinery, mineral fuels, manufactured goods, food and live animals.
• Main trade partners: USA, Venezuela, Brazil, Jamaica, Spain, and Germany.
Economy
The oil and gas industry has been the most important in Trinidad and Tobago for some time. In the summer of 2003, Trinidad signed a landmark agreement with nearby Venezuela, one of the world's largest producers, to collaborate in all aspects of the oil and gas industries. This should ensure the long-term future of the sector for Trinidad. Apart from oil and gas, Trinidad has the world's largest deposits of asphalt.
The non-oil industrial sector is concentrated in relatively new industries established with oil and gas revenues, such as plastics and electronics. The agricultural sector is small, with sugar cane, coffee, cocoa and citrus fruits as the main commodities.
The government has also sought to address historic under-investment in the tourism industry, a promising part of the economy which has undergone steady growth. The islands now cater to about 400,000 visitors annually; the industry is worth about US$275 million to the Trinidadian economy.
External debt has been substantially reduced. The economy grew by around 12% in 2006, while unemployment fell to a record low of 5.9%. Trinidad and Tobago is a member of the Caribbean trading bloc, CARICOM.
The non-oil industrial sector is concentrated in relatively new industries established with oil and gas revenues, such as plastics and electronics. The agricultural sector is small, with sugar cane, coffee, cocoa and citrus fruits as the main commodities.
The government has also sought to address historic under-investment in the tourism industry, a promising part of the economy which has undergone steady growth. The islands now cater to about 400,000 visitors annually; the industry is worth about US$275 million to the Trinidadian economy.
External debt has been substantially reduced. The economy grew by around 12% in 2006, while unemployment fell to a record low of 5.9%. Trinidad and Tobago is a member of the Caribbean trading bloc, CARICOM.
Business Etiquette
Lightweight suits or 'shirt jacks' should be worn. It is normal to shake hands and exchange business cards. The best time to visit is from December to April, except during the Christmas festivities.
Office hours: Mon-Fri 0800-1630.
Office hours: Mon-Fri 0800-1630.
Business Contacts
Trinidad and Tobago Chamber of Industry and Commerce (Inc)
Columbus Circle, Westmoorings, PO Box 499, Port of Spain, Trinidad
Tel: 637 6966.
Website: www.chamber.org.tt
Columbus Circle, Westmoorings, PO Box 499, Port of Spain, Trinidad
Tel: 637 6966.
Website: www.chamber.org.tt
