Trinidad and Tobago : economy statistics and industry reports

5% in 2009, before rising more than 2% in 2010.

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 previous MANNING administration benefited from fiscal surpluses fueled by the dynamic export sector; however, declines in oil and gas prices have reduced government revenues which will challenge the new government's commitment to maintaining high levels of public investment.