Key Market Indicators
Tobagonian truck exports are projected to plummet to approximately $36,000 by 2028, down from around $89,000 in 2023. This marks a sharp annual decline of 14.1% in compound annual growth rate (CAGR). Historical data reveals that since 1996, Tobagonian truck exports have already been decreasing by an average of 8.8% per year. On the import side, Tobagonian truck imports are expected to rise, reaching an estimated $312 million by 2028, up from $269 million in 2023. This represents an annual growth rate of 2.4%. Since 1996, the demand for imported trucks in Tobago has been increasing at an average rate of 3.6% per year.