TRINIDAD & TOBAGO

The double-edged sword of being the Caribbean’s largest energy producer

B3

SENSITIVE RISK for enterprise

  • Economic risk

  • Business environment risk

  • Political risk

  • Commercial risk

  • Financing risk

The country risk assessments are your North Star metrics to make the right decision for your business and understand the risks in international trade. We have always the best solution for your needs

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GDP USD22.105bn (World ranking 108, World Bank 2017)
Population 1.37mn (World ranking 152, World Bank 2017)
Form of state Parliamentary Democracy
Head of government Keith ROWLEY (Prime Minister)
Next elections 2020, presidential
  • Large oil and gas resources and largest petroleum and gas producer in the Caribbean
  • Strong external liquidity
  • Counter cyclical buffer in the form of Sovereign Wealth Fund (HSF)
  • High crime rate driven by drug and arms trafficking
  • Significant risks coming from the high dependence on energy revenues
  • Maintenance-related outages in the energy sector
  • Deteriorating fiscal position
  • Recurring foreign exchange shortages and growing external imbalances

Trade structure by destination/origin

(% of total)

Exports Rank Imports
United States 38%
1
32% United States
Argentina 12%
2
15% Russia
Chile 3%
3
12% Gabon
Peru 3%
4
6% China
Jamaica 3%
5
4% Colombia

Trade structure by product

(% of total)

Exports Rank Imports
Gas, natural and manufactured 27%
1
37% Petroleum, petroleum products and related materials
Petroleum, petroleum products and related materials 22%
2
6% Road vehicles
Inorganic chemicals 14%
3
5% Other industrial machinery and parts
Organic chemicals 14%
4
3% Specialised machinery
Iron and steel 8%
5
3% Other transport equipment

Contact Euler Hermes

Economic Research Team

research@eulerhermes.com

Contact Georges Dib

Economist for Latin America, Spain and Portugal

georges.dib@eulerhermes.com

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