Key Market Indicators
Tobago's energy consumption is projected to decline to 0.5 exajoules by 2028, down from 0.57 exajoules in 2023. This represents an annual compound decline rate of approximately 1.9%. Historically, Tobago has experienced a notable decrease in energy demand. Since 1970, the country's energy consumption has diminished at an average annual rate of 4.4%. In 2023, Tobago ranked 67th globally in terms of energy consumption, with Denmark slightly ahead, also at 0.57 exajoules. Meanwhile, the top spots in the global energy consumption ranking were held by major nations: the United States, India, and Russia, occupying the second, third, and fourth positions respectively.
