Key Market Indicators
Tobagonian metal products exports are projected to see minimal change, reaching approximately $4.8 million by 2028, compared to $4.8 million in 2023. This represents a near-zero percent average annual decrease. Historical data since 1996 reveals that the supply of metal products from Tobago has consistently declined by an average of 0% each year. In contrast, metal products imports into Tobago are expected to rise significantly. Forecasts indicate that by 2028, imports will hit around $62 million, up from $54 million in 2023. This growth reflects a compound annual growth rate (CAGR) of 2%. Since 1996, the demand for metal products in Tobago has shown a steady annual increase of 3%. These trends highlight a stark contrast between the island's export and import markets for metal products, with imports on the rise while exports remain stagnant.
