Trinidad and Tobago
Description of Trinidad and Tobago
As a small twin-island nation nestled in the southern Caribbean, Trinidad and Tobago holds a unique position both geographically and economically. With a rich history shaped by indigenous peoples, European colonial powers, and waves of immigration, the country has emerged as a dynamic hub of culture and commerce in the region. Boasting one of the highest GDP per capita rates in the Americas, Trinidad and Tobago's economy is primarily driven by its energy sector, particularly natural gas and oil production. However, the country faces challenges such as diversifying its economy, addressing income inequality, and navigating the impact of global energy market fluctuations. Embark on a journey to explore the complexities and opportunities of Trinidad and Tobago's development trajectory.
Population And Age Structure
Population, total: With a total population of 1,518,147, Trinidad and Tobago is significantly below the average population of 40,097,746.59, ranking 149th out of 194 countries.
Population ages 0-14 (% of total population): The percentage of population ages 0-14 in Trinidad and Tobago is 19.52%, below the average of 27.34%. This places Trinidad and Tobago at the 133rd rank out of 194 countries.
Population ages 0-14, total: Trinidad and Tobago has a total population age 0-14 of 296,412, significantly lower than the average of 10,327,379.98, ranking 154th out of 194 countries.
Population ages 15-64 (% of total population): The percentage of population ages 15-64 in Trinidad and Tobago is 69.80%, higher than the average of 63.44%, placing the country at the 25th rank out of 194 countries.
Population ages 15-64, total: Trinidad and Tobago's total population ages 15-64 stands at 1,059,682, significantly lower than the average of 26,003,407.49, ranking 149th out of 194 countries.
Population ages 65 and above (% of total population): The percentage of population ages 65 and above in Trinidad and Tobago is 10.67%, higher than the average of 9.22%, placing the country at the 67th rank out of 194 countries.
Population ages 65 and above, total: Trinidad and Tobago has a total population ages 65 and above of 162,053, below the average of 3,766,959.08, ranking 137th out of 194 countries.
Summary
Trinidad and Tobago has a relatively small total population compared to the global average, with a significant percentage of its population falling in the working-age bracket (ages 15-64). This demographic distribution could potentially impact the country's workforce, economic productivity, and dependency ratio, highlighting areas for targeted policy interventions and long-term planning to ensure sustainable development and social welfare.
Population Miscellaneous
- Trinidad and Tobago has a rural population of 710,280, significantly below the attribute average of
18,044,041. The country ranks 139th out of 190 countries.
- The rural population (% of total population) in Trinidad and Tobago is 46.786%, higher than the average
of 41.158%. Trinidad and Tobago ranks 74th out of 190 countries.
- With an urban population of 807,867, Trinidad and Tobago falls well below the attribute average of
22,425,747. The country ranks 152nd out of 194 nations.
- The urban population (% of total population) for Trinidad and Tobago is 53.214%, below the average of
59.691%. The country ranks 121st out of 194 countries.
- Trinidad and Tobago has an age dependency ratio (% of working-age population) of 43.264%, lower than the
average of 59.219%. The country ranks 170th out of 194 countries.
- The crude birth rate in Trinidad and Tobago is 11.946 births per 1,000 people, lower than the average of
19.384. The country ranks 131st out of 192 nations.
- Trinidad and Tobago's crude death rate stands at 7.9 per 1,000 people, slightly below the average of
8.214. The country ranks 92nd out of 192 countries.
- The total fertility rate for Trinidad and Tobago is 1.631 births per woman, below the average of 2.603.
The country ranks 133rd out of 190 nations.
Summary
Trinidad and Tobago stands out with a lower rural population but a higher percentage of rural population compared to the global average, indicating a unique demographic distribution. The country also has a below-average urban population and urban population percentage, contributing to its distinctive urban-rural divide. Additionally, Trinidad and Tobago exhibits a lower age dependency ratio, crude birth rate, crude death rate, and total fertility rate than the global averages, suggesting a potentially more stable and sustainable demographic profile. These indicators are crucial as they provide insights into the country's population structure, demographic trends, and potential socio-economic implications for policy planning and development strategies.
Military
Trinidad and Tobago's military expenditure of approximately $170 million USD is significantly below the average of $12.9 billion USD, ranking 113th out of 149 countries. The country's military expenditure as a percentage of GDP is 0.74%, lower than the average of 1.90%. Trinidad and Tobago ranks 129th out of 148 countries in this aspect. With 5000 armed forces personnel, well below the average of 165,908 personnel, Trinidad and Tobago ranks 146th out of 164 countries. Additionally, the country's armed forces personnel as a percentage of the total labor force is 0.74%, below the average of 1.28%. Trinidad and Tobago ranks 90th out of 164 countries in this metric.
Summary
Trinidad and Tobago's military expenditure, personnel, and their allocation as a percentage of GDP and the total labor force are significantly below global averages, ranking lower in comparison to a large number of countries worldwide. This suggests that Trinidad and Tobago may have a less militarized approach compared to many other nations, potentially indicating a more peaceful stance in international relations and a greater focus on non-military sectors for economic development.
Natural Resources
Trinidad and Tobago has a forest area of 2281.9 sq. km, which is significantly below the average forest area of 211,606.11 sq. km, ranking at 151 out of 191 countries.
The land area of Trinidad and Tobago is 5130 sq. km, far below the average land area of 665,166.51 sq. km, placing it at a low rank of 165 out of 194 countries.
With a surface area of 5130 sq. km, Trinidad and Tobago falls well short of the average surface area of 689,779.56 sq. km, ranking at 165 out of 194 countries.
Trinidad and Tobago's arable land covers 25,000 hectares, significantly lower than the average of 7,329,543.16 hectares, with a rank of 160 out of 190 countries.
The land under cereal production in Trinidad and Tobago spans 3766 hectares, notably lower than the average of 4,206,011.63 hectares, placing it at a rank of 154 out of 174 countries.
Trinidad and Tobago receives an average precipitation depth of 2200 mm per year, higher than the average of 1157.83 mm per year, with a respectable rank of 24 out of 178 countries.
The country's renewable internal freshwater resources total 3.84 billion cubic meters, well below the average of 240.41 billion cubic meters, ranking at 141 out of 178 countries.
Summary
Trinidad and Tobago's land and environmental metrics, such as forest area, land area, and arable land, are significantly below global averages, placing the country at lower ranks internationally. The country's higher precipitation depth juxtaposed with lower renewable internal freshwater resources highlights potential challenges in water management and sustainable resource use.
These findings are important as they underscore Trinidad and Tobago's limitations in land resources and the importance of efficient environmental management to ensure sustainability and resilience in the face of climate change and growing population demands.
Resource Rents
Trinidad and Tobago's total natural resources rents account for 5.88% of its GDP, surpassing the average of 4.63%. With a rank of 44 out of 175 countries, the nation demonstrates a significant reliance on natural resource revenue.
Contrastingly, the country's forest rents contribute only 0.07% to its GDP, well below the average of 1.53%. This places Trinidad and Tobago at rank 124 out of 174 countries in terms of forest rent contribution.
Trinidad and Tobago's oil rents make up 1.43% of its GDP, lower than the average of 2.51%. Ranked 31 out of 117 countries, the nation showcases a moderate dependency on oil revenue.
Moreover, the country's natural gas rents constitute 4.38% of its GDP, significantly exceeding the average of 1.25%. With a rank of 7 out of 96 countries, Trinidad and Tobago stands out for its substantial reliance on natural gas resources.
Summary
Trinidad and Tobago showcases a unique economic profile with substantial reliance on natural resources, particularly natural gas, which significantly exceeds global averages. The country's rankings in natural resource rents illustrate its heavy dependency on this sector for economic sustenance and growth, highlighting the importance of prudent resource management and diversification efforts to ensure long-term economic stability.
Commodities
When considering Cereal production (metric tons), Trinidad and Tobago's production of 5734 metric tons is significantly below the average of 17,249,945.93 metric tons, placing the country at rank 158 out of 174 countries in the dataset.
The Aquaculture production (metric tons) in Trinidad and Tobago is exceptionally low at 4.2 metric tons, well below the average of 679,642.92 metric tons, ranking the country at 173 out of 180 countries.
Trinidad and Tobago's Capture fisheries production (metric tons) stands at 12,912.65 metric tons, below the average of 467,453.06 metric tons, resulting in a rank of 135 out of 190 countries.
With Total fisheries production (metric tons) of 12,916.85 metric tons, Trinidad and Tobago falls short of the average of 1,153,914.85 metric tons, securing a rank of 140 out of 182 countries.
Regarding Fertilizer consumption (kilograms per hectare of arable land), Trinidad and Tobago's consumption of 349.74 kilograms per hectare is above the average of 159.04 kilograms per hectare. This places the country at rank 17 out of 187 countries.
Summary
Trinidad and Tobago's agricultural production, particularly in cereals and fisheries, falls significantly below global averages, indicating potential challenges in food security and economic contribution from these sectors. However, the country's comparatively high fertilizer consumption per hectare of arable land demonstrates a commitment to enhancing agricultural productivity and efficiency, positioning Trinidad and Tobago favorably in terms of agricultural development and sustainability.
Intellectual Property
Trinidad and Tobago has a relatively low number of Industrial design applications by nonresidents, with a value of 4, significantly below the average of 1415.83. This places Trinidad and Tobago at a rank of 107 out of 112 countries in the dataset.
For Industrial design applications by residents, Trinidad and Tobago also lags behind with a value of 15, well below the average of 9799.58. The country is ranked 95 out of 113 countries for this attribute.
In terms of Patent applications by nonresidents, Trinidad and Tobago has 111 applications, lower than the average of 6538.40. This places Trinidad and Tobago at the 68th position out of 129 countries.
With only 1 Patent application by residents, Trinidad and Tobago is significantly below the average of 19037.56 and ranks 117th out of 117 countries.
Trinidad and Tobago has a moderate number of Trademark applications by nonresidents with 1657 applications, slightly below the average of 15878.93, ranking 106 out of 130 countries.
For Trademark applications by residents, Trinidad and Tobago has 896 applications, well below the average of 111055.78, placing the country at a rank of 97 out of 129 countries.
Trinidad and Tobago has a low number of Scientific and technical journal articles with 237.39 articles, significantly below the average of 15103.76. The country ranks 115 out of 192 countries for this attribute.
Regarding Charges for the use of intellectual property (payments), Trinidad and Tobago has a value of 36904008.85, significantly below the average of 3218843494.39. The country ranks 85 out of 143 countries.
For Charges for the use of intellectual property (receipts), Trinidad and Tobago records 575099.27, also well below the average of 3191687117.58. The country ranks 95 out of 122 countries for this attribute.
Trinidad and Tobago has 590.53 Researchers in R&D per million people, lower than the average of 2556.45. The country ranks 52 out of 72 countries in this aspect.
Summary
Trinidad and Tobago exhibits lower-than-average numbers across various key macroeconomic indicators related to intellectual property, research and development, and innovation. This suggests a relative lack of investment and focus in these areas compared to other countries globally. Given the importance of intellectual property, innovation, and research and development in driving economic growth and competitiveness in the modern global economy, Trinidad and Tobago may need to prioritize and enhance these aspects to boost its economic development and international standing.
Broad Economy Attributes
1. GDP (current US$): Trinidad and Tobago has a GDP of $20,807,571,314.30, which is significantly below the average GDP of $442,870,224,838.68. With a rank of 108 out of 189 countries, Trinidad and Tobago is positioned lower in terms of GDP.
2. GDP, PPP (current international $): The GDP of Trinidad and Tobago in PPP terms is $37,503,273,436.60, much lower than the average of $734,141,122,350.78. Trinidad and Tobago ranks 117 out of 181 countries in this aspect.
3. GDP per capita (current US$): With a GDP per capita of $13,705.90, Trinidad and Tobago falls below the average GDP per capita of $15,462.11. The country is ranked 57 out of 190 countries in terms of GDP per capita.
4. GDP per capita, PPP (current international $): Trinidad and Tobago's GDP per capita in PPP stands at $24,703.32, above the average of $21,251.89. The country ranks 57 out of 181 countries in this category.
5. GNI (current US$): Trinidad and Tobago's GNI is $19,751,578,720.50, which is significantly lower than the average GNI of $452,040,815,370.70. The country is positioned at rank 109 out of 185 countries in GNI.
6. GNI, PPP (current international $): With a GNI in PPP terms of $35,599,967,260.50, Trinidad and Tobago is below the average GNI of $730,698,223,823.47. The country ranks 119 out of 181 countries in this aspect.
7. GNI per capita, PPP (current international $): Trinidad and Tobago's GNI per capita in PPP is $23,450, slightly above the average of $20,615.75. The country is ranked 57 out of 181 countries in this category.
Summary
Trinidad and Tobago appears to have lower than average figures across key macroeconomic indicators such as GDP, GDP per capita, and GNI, both in absolute terms and in PPP-adjusted terms. These statistics indicate that the country may face challenges in terms of economic growth, income distribution, and overall economic development compared to the global averages. Addressing these disparities and striving to improve these indicators could be crucial for Trinidad and Tobago to enhance its economic competitiveness and standard of living.
Broad Value Added
1. Gross value added at basic prices (GVA) (current US$): Trinidad and Tobago's value is significantly below the attribute average, ranking 101 out of 176 countries in the dataset.
2. Agriculture, forestry, and fishing, value added (% of GDP): Trinidad and Tobago's value is well below the attribute average, ranking 154 out of 182 countries in the dataset.
3. Agriculture, forestry, and fishing, value added (current US$): Trinidad and Tobago's value is notably below the attribute average, ranking 148 out of 182 countries in the dataset.
4. Services, value added (% of GDP): Trinidad and Tobago's value is above the attribute average, ranking 54 out of 183 countries in the dataset.
5. Services, value added (current US$): Trinidad and Tobago's value is significantly below the attribute average, ranking 103 out of 183 countries in the dataset.
6. Industry (including construction), value added (current US$): Trinidad and Tobago's value is significantly below the attribute average, ranking 101 out of 183 countries in the dataset.
Summary
Trinidad and Tobago's macroeconomic indicators reveal a concerning trend of underperformance in key sectors such as agriculture, forestry, and fishing, as well as industry. This is reflected in its low rankings compared to other countries in the dataset. However, the country shows relative strength in the services sector, with above-average value added as a percentage of GDP. These findings are crucial as they highlight the need for Trinidad and Tobago to diversify and strengthen its economy beyond services to achieve more balanced growth and resilience against sector-specific challenges.
Manufacturing Value Added
Trinidad and Tobago's Manufacturing, value added in current US dollars is $2.98 billion, ranking 98th out of 173 countries. This value is significantly below the attribute average of $76.21 billion.
The country's Manufacturing, value added as a percentage of GDP is 14.30%, placing it 57th out of 173 countries. This percentage is above the attribute average of 11.90%.
In terms of Medium and high-tech manufacturing value added as a percentage of total manufacturing value added, Trinidad and Tobago's value stands at 39.38%. This places the country 33rd out of 149 countries, significantly above the attribute average of 24.49%.
Summary
Trinidad and Tobago's manufacturing sector, valued at $2.98 billion, performs below the global average of $76.21 billion in terms of total value added. However, the country excels in efficiency, with manufacturing value added accounting for 14.30% of its GDP, surpassing the global average of 11.90%. Furthermore, with medium and high-tech manufacturing contributing significantly at 39.38% of total manufacturing value added, Trinidad and Tobago showcases a strong specialization in this sector compared to other nations. These indicators are crucial as they highlight Trinidad and Tobago's competitive edge in high-value manufacturing and its potential for further economic growth through technological advancements and innovation.
Money
1. Inflation, consumer prices (annual %): Trinidad and Tobago's inflation rate of 0.60% is significantly lower than the average of 8.26%. With a rank of 119 out of 165 countries, Trinidad and Tobago's inflation rate is relatively low.
2. Inflation, GDP deflator (annual %): Trinidad and Tobago experiences deflation with a rate of -3.79%, well below the average of 6.90%. Ranked 169 out of 188 countries, Trinidad and Tobago has one of the lowest deflation rates in the dataset.
3. Broad money growth (annual %): Trinidad and Tobago's broad money growth stands at 7.12%, lower than the average of 18.03%. Despite this, Trinidad and Tobago ranks 113 out of 139 countries, indicating a moderate performance in money growth.
4. Broad money (% of GDP): Trinidad and Tobago's broad money as a percentage of GDP is 84.22%, higher than the average of 71.75%. This places Trinidad and Tobago at a solid rank of 47 out of 139 countries, showcasing a strong financial position.
5. Broad money to total reserves ratio: With a ratio of 2.52, Trinidad and Tobago falls below the average of 5.17. The country holds a rank of 70 out of 126 countries in this metric, reflecting a conservative approach to monetary reserves.
Summary
Trinidad and Tobago demonstrates a unique macroeconomic profile with relatively low inflation rates, moderate broad money growth, and a solid percentage of broad money to GDP. Despite experiencing deflation, the country maintains a strong financial position compared to global averages. These indicators are crucial as they reflect Trinidad and Tobago's economic stability, prudent monetary policies, and financial resilience amidst global economic fluctuations.
Equities
1. S&P Global Equity Indices (annual % change): Trinidad and Tobago experienced a decrease of -5.84% in this attribute, which is below the average of 2.06%. The country ranks 49th out of 79 countries in this data set.
Summary
Trinidad and Tobago saw a decline of -5.84% in the S&P Global Equity Indices, performing below the average of 2.06% and ranking 49th out of 79 countries. This indicates a weaker performance compared to many other countries in the dataset, potentially signaling challenges or underperformance in the country's equity market.
Investment
Foreign direct investment, net (BoP, current US$): In Trinidad and Tobago, the focus country value is significantly below the attribute average, ranking 110 out of 169 countries. This indicates a lower level of foreign direct investment compared to other countries in the dataset.
Foreign direct investment, net inflows (BoP, current US$): Trinidad and Tobago's focus country value for net inflows is below the attribute average, ranking 72 out of 182 countries. This suggests that the country is receiving lower net inflows of foreign direct investment compared to a larger portion of countries in the dataset.
Foreign direct investment, net inflows (% of GDP): With a value above the attribute average, Trinidad and Tobago ranks 37 out of 178 countries for net inflows as a percentage of GDP. This indicates that foreign direct investment plays a relatively significant role in Trinidad and Tobago's economy compared to many other countries.
Foreign direct investment, net outflows (BoP, current US$): The focus country value for net outflows is considerably below the attribute average for Trinidad and Tobago, placing it at rank 71 out of 156 countries. This suggests that Trinidad and Tobago is not engaging in as much foreign direct investment outflow compared to a majority of countries in the dataset.
Foreign direct investment, net outflows (% of GDP): Trinidad and Tobago's focus country value for net outflows as a percentage of GDP is below the attribute average, ranking 53 out of 155 countries. This indicates that the country's outward foreign direct investment as a proportion of its GDP is relatively lower compared to a significant number of countries.
Portfolio Investment, net (BoP, current US$): In Trinidad and Tobago, the focus country value for portfolio investment is well below the attribute average, ranking 108 out of 159 countries. This suggests a lower level of net portfolio investment compared to other countries in the dataset.
Summary
Trinidad and Tobago demonstrates lower levels of foreign direct investment both in terms of total amounts and as a percentage of GDP compared to many countries globally. This suggests that the country may not be attracting as much foreign capital for direct investment projects. Additionally, the low level of net portfolio investment indicates a lack of participation in the international financial markets, which could potentially limit diversification and economic growth opportunities for Trinidad and Tobago.
Broad Trade Attributes
Trinidad and Tobago's merchandise trade accounts for 49.96% of its GDP, which is below the global average of 60.01%. The country is ranked 96th out of 186 countries in this aspect.
Regarding trade in services, Trinidad and Tobago's percentage stands at 10.59% of GDP, significantly lower than the average of 24.63%. The country is ranked 117th out of 171 countries in this category.
Summary
Trinidad and Tobago exhibits a lower than average involvement in both merchandise trade and trade in services as a percentage of its GDP. These statistics suggest that the country may have limited integration into the global market compared to other nations. This could impact its economic growth potential, diversification opportunities, and overall resilience to external market shocks.
Net Trade
Trinidad and Tobago has a Current account balance (BoP, current US$) of -1356410678.48628, which is below the average of 1443864831.4940138. It ranks 121 out of 170 countries in this attribute.
The country's Current account balance (% of GDP) stands at -6.51883229425149, significantly lower than the average of -2.3613128705499826. Trinidad and Tobago is ranked 129 out of 170 countries based on this metric.
Trinidad and Tobago's Net trade in goods and services (BoP, current US$) is -344819601.954506, below the average of 2604730003.5650773. It ranks 90 out of 171 countries in this category.
For Net primary income (BoP, current US$), Trinidad and Tobago records -1055585526.37403, which is lower than the average of -903807529.7376518. The country ranks 104 out of 170 nations for this attribute.
In terms of Net secondary income (BoP, current US$), Trinidad and Tobago has 43994449.8422471, higher than the average of -269227340.40242267. It ranks 111 out of 170 countries based on this metric.
Trinidad and Tobago's Net trade in goods (BoP, current US$) is 984083212.276511, below the average of 1302831005.6800897. The country holds the 56th rank out of 171 nations for this attribute.
Regarding Net capital account (BoP, current US$), Trinidad and Tobago reports 463325.352124332, which is lower than the average of 136543824.04518417. It ranks 121 out of 159 countries based on this metric.
Lastly, in the Net financial account (BoP, current US$), Trinidad and Tobago shows -1488498930.45993, significantly below the average of -469840994.6309935. The country ranks 127 out of 170 nations for this attribute.
Summary
Trinidad and Tobago exhibits negative values in key macroeconomic indicators such as Current account balance, Current account balance (% of GDP), Net primary income, and Net financial account, indicating significant imbalances in its economic activities. While the country performs better in metrics like Net secondary income and Net trade in goods, it still falls below average rankings in global comparisons. These indicators are crucial as they reflect the country's economic health, international trade relationships, and financial stability, highlighting areas that require attention for potential policy adjustments and economic reforms.
Broad Export Attributes
Trinidad and Tobago's Exports of goods, services and primary income amount to $6,960,380,710.57, ranking 103 out of 170 countries. This value is significantly below the average of $146,238,908,936.30 for this attribute.
The country's Exports of goods and services stand at $6,439,718,323.60, also ranking 103 out of 170 countries. This falls well below the average of $122,938,540,059.78.
Trinidad and Tobago's Goods exports amount to $6,002,898,481.84, ranking 95 out of 171 countries. This value is notably less than the average of $93,310,581,697.39.
Regarding International tourism receipts as a percentage of total exports, Trinidad and Tobago is at 2.34%. This places the country at rank 80 out of 120 countries, well below the average of 9.74% for this metric.
For ICT goods exports as a percentage of total goods exports, Trinidad and Tobago stands at 0.10%, ranking 108 out of 142 countries. This figure is significantly under the average of 3.81%.
Summary
Trinidad and Tobago performs below average in key macroeconomic indicators such as total exports of goods, services, and primary income, goods exports, international tourism receipts as a percentage of total exports, and ICT goods exports as a percentage of total goods exports. These low rankings indicate potential challenges in diversifying the country's export base, maximizing tourism revenue, and developing its ICT sector. Addressing these areas could help Trinidad and Tobago enhance its economic resilience and competitiveness in the global market.
Merchandise Exports
Trinidad and Tobago's merchandise exports amount to $5.52 billion, ranking 104th out of 187 countries. This value is significantly lower than the average merchandise exports value of $89.54 billion.
In terms of Agricultural raw materials exports (% of merchandise exports), Trinidad and Tobago's value of 0.03% is well below the average of 2.97%. The country ranks 142nd out of 151 countries in this category.
Trinidad and Tobago's food exports, accounting for 7.79% of merchandise exports, are notably lower than the average of 24.06%. The country holds the 115th rank out of 152 countries.
With fuel exports making up 29.23% of merchandise exports, Trinidad and Tobago surpasses the average of 13.70%. This places the country at the 23rd rank out of 147 countries in this aspect.
Regarding ores and metals exports (% of merchandise exports), Trinidad and Tobago's value of 2.57% is below the average of 9.10%. The country ranks 88th out of 152 countries.
Trinidad and Tobago's merchandise exports by the reporting economy residual (% of total merchandise exports) at 1.78% is lower than the average of 3.20%. The country holds the 45th rank out of 166 countries in this category.
Summary
Trinidad and Tobago shows a notable divergence from global averages in its merchandise exports composition. The country has relatively low proportions of agricultural raw materials and food exports compared to the average, while excelling in fuel exports. This unique export profile may indicate a strong reliance on fuel resources for revenue generation and emphasize the need for diversification to mitigate economic vulnerabilities associated with fluctuations in global oil prices.
Technology Exports
Trinidad and Tobago's Manufactures exports account for 59.27% of its merchandise exports, which is above the average of 42.62%. The country is ranked 56 out of 152 countries for this statistic.
The country's High-technology exports total $4,512,408, significantly below the average of $16,655,934,078.80. Trinidad and Tobago ranks 122 out of 151 countries in this category.
Trinidad and Tobago's High-technology exports as a percentage of manufactured exports is 0.18%, much lower than the average of 10.15%. The country is ranked 148 out of 150 nations for this metric.
Regarding Medium and high-tech exports as a percentage of manufactured exports, Trinidad and Tobago stands at 56.94%, surpassing the average of 34.29%. The country holds the 36th rank out of 149 countries in this dataset.
Summary
Trinidad and Tobago has a strong focus on manufacturing, with Manufactures exports accounting for a significant percentage of its merchandise exports. However, the country lags behind in High-technology exports both in total value and as a percentage of manufactured exports. On the bright side, Trinidad and Tobago performs well in Medium and high-tech exports as a percentage of manufactured exports, indicating potential for growth and diversification in the technology sector. These indicators are crucial as they reflect Trinidad and Tobago's current economic structure, its technological advancement, and its potential for future development and competitiveness in the global market.
Service Exports
- Service exports in Trinidad and Tobago amount to $436,819,841.76, significantly below the average of
$28,917,292,503.82. This ranks Trinidad and Tobago 127th out of 171 countries in the dataset.
- ICT service exports in Trinidad and Tobago total $13,736,034.67, well below the average of
$4,578,501,153.77. This places Trinidad and Tobago at the 129th position out of 166 countries.
- ICT service exports as a percentage of total service exports is 3.14% for Trinidad and Tobago, notably
lower than the average of 11.75%. Trinidad and Tobago ranks 133rd out of 166 countries for this
metric.
- Communications, computer, etc. services as a percentage of total service exports in Trinidad and Tobago
stand at 19.25%, considerably lower than the average of 45.85%, placing the country at 143rd out of 169
countries.
- Transport services constitute 23.92% of Trinidad and Tobago's service exports, slightly above the
average of 21.80%. This places Trinidad and Tobago at the 64th position out of 169 countries.
- Travel services make up 32.88% of Trinidad and Tobago's service exports, higher than the average of
26.40%. Trinidad and Tobago ranks 53rd out of 167 countries for this indicator.
- Insurance and financial services as a percentage of service exports in Trinidad and Tobago account for
23.95%, significantly surpassing the average of 6.46%. This ranks Trinidad and Tobago 7th out of 161
countries for this attribute.
Summary
Trinidad and Tobago has relatively low levels of service exports compared to the global average across various sectors, such as ICT, communications, and transport services. However, the country excels in the insurance and financial services sector, where it surpasses the global average by a significant margin, ranking 7th out of 161 countries. These findings are crucial as they highlight areas where Trinidad and Tobago can focus on improving competitiveness and diversifying its service export portfolio to enhance economic growth and sustainability.
Commercial Service Exports
Trinidad and Tobago's Commercial service exports amount to $420,931,973.80, which is significantly below the average of $28,508,218,402.80, ranking 126th out of 171 countries.
Travel services contribute 34.12% of Trinidad and Tobago's commercial service exports, surpassing the average of 27.89%. This places the country at 54th out of 167 countries.
Computer, communications, and other services make up 16.20% of Trinidad and Tobago's commercial service exports, notably lower than the average of 42.44%, ranking 141st out of 169 countries.
Insurance and financial services constitute 24.86% of Trinidad and Tobago's commercial service exports, significantly higher than the average of 6.97%, positioning the country at 9th out of 161 countries.
Transport services represent 24.82% of Trinidad and Tobago's commercial service exports, slightly above the average of 23.37%, ranking 62nd out of 169 countries.
Summary
Trinidad and Tobago has a below-average total commercial service exports, ranking 126th globally. However, the country excels in the contribution of travel services and insurance/financial services to its exports, ranking 54th and 9th respectively. On the other hand, the country lags behind in the export share of computer, communications, and other services, placing 141st. These findings are crucial as they highlight Trinidad and Tobago's strengths and weaknesses in different service sectors, indicating areas for potential growth and improvement in the economy.
Broad Import Attributes
Trinidad and Tobago's expenditures on international tourism account for 0.62% of its total imports, which is significantly below the average of 3.98%. This places Trinidad and Tobago at rank 128 out of 131 countries in the dataset.
Regarding ICT goods imports, Trinidad and Tobago's percentage of total goods imports is 3.14%, below the average of 6.85%. This positions Trinidad and Tobago at rank 113 out of 143 countries.
Trinidad and Tobago's goods imports amount to $5,018,815,269.56, which is well below the average of $92,007,788,027.17. This places Trinidad and Tobago at rank 113 out of 171 countries.
The country's imports of goods and services total $6,784,537,925.56, far below the average of $120,321,577,988.12. Trinidad and Tobago ranks 110 out of 170 countries for this indicator.
Trinidad and Tobago's imports of goods, services, and primary income amount to $8,360,785,838.90, significantly lower than the average of $144,514,428,722.28. The country is ranked 106 out of 170 countries in this aspect.
Summary
Trinidad and Tobago exhibits lower expenditures on international tourism, ICT goods imports, total goods imports, goods imports, services, and primary income compared to the global averages. This indicates that the country has a relatively smaller share in these key macroeconomic indicators. These findings are crucial as they suggest that Trinidad and Tobago may have limited external trade diversification and may face challenges in boosting its international tourism sector and technological infrastructure.
Merchandise Imports
Trinidad and Tobago's merchandise imports amount to $4.88 billion. This is significantly below the average merchandise imports of $89.39 billion, ranking Trinidad and Tobago 122nd out of 190 countries.
Manufactures imports account for 70.50% of Trinidad and Tobago's merchandise imports, higher than the average of 66.76%. This places Trinidad and Tobago at 56th out of 152 countries.
Trinidad and Tobago's agricultural raw materials imports are 0.68% of its merchandise imports, lower than the average of 1.27%. This ranks Trinidad and Tobago 121st out of 152 countries.
Food imports represent 18.76% of Trinidad and Tobago's merchandise imports, surpassing the average of 15.89%. Trinidad and Tobago is ranked 46th out of 152 countries for this attribute.
Trinidad and Tobago's fuel imports constitute 3.30% of its merchandise imports, which is below the average of 11.38%. This places Trinidad and Tobago at 144th out of 152 countries in terms of fuel imports.
Concerning ores and metals imports, Trinidad and Tobago's percentage is 6.69%, significantly higher than the average of 2.57%. This ranks Trinidad and Tobago 11th out of 152 countries.
Lastly, Trinidad and Tobago's residual merchandise imports stand at 0.03%, notably below the average of 2.51%. This places Trinidad and Tobago at 145th out of 180 countries.
Summary
Trinidad and Tobago exhibits a unique trade profile with significantly lower overall merchandise imports compared to the global average. However, it stands out in certain import categories such as manufactures and ores/metals, where it surpasses the average. These statistics are crucial as they highlight Trinidad and Tobago's trade specialization and provide insights into its economic priorities and dependencies on specific import sectors.
Service Imports
Service imports (BoP, current US$): Trinidad and Tobago's value for service imports is $1,765,722,655.99, significantly below the average of $27,615,356,170.47. The country ranks 102 out of 171 countries in this attribute data.
Communications, computer, etc. (% of service imports, BoP): Trinidad and Tobago's percentage is 49.19%, slightly above the average of 44.40%. The country ranks 76 out of 169 countries in this attribute data.
Transport services (% of service imports, BoP): Trinidad and Tobago's percentage is 26.50%, below the average of 32.90%. The country ranks 95 out of 169 countries in this attribute data.
Travel services (% of service imports, BoP): Trinidad and Tobago's percentage is 2.16%, well below the average of 14.14%. The country ranks 157 out of 169 countries in this attribute data.
Insurance and financial services (% of service imports, BoP): Trinidad and Tobago's percentage is 22.15%, significantly above the average of 8.53%. The country ranks 8 out of 169 countries in this attribute data.
Summary
Trinidad and Tobago has a relatively low value for overall service imports compared to the global average, ranking 102 out of 171 countries. However, it shows strength in insurance and financial services, with a percentage well above the average, ranking 8th globally. This indicates a potential specialization in financial services which can contribute significantly to the country's economy and competitiveness in the global market.
Commercial Service Imports
Trinidad and Tobago's commercial service imports amount to $1,714,496,669.97, significantly below the average of $27,102,746,128.60, ranking at 100th out of 171 countries in the dataset.
Computer, communications, and other services represent 47.68% of Trinidad and Tobago's commercial service imports, which is above the average of 41.71%. The country ranks 74th out of 169 countries.
Insurance and financial services account for 22.81% of Trinidad and Tobago's commercial service imports, significantly higher than the average of 8.85%. This places the country at the 10th rank out of 169 countries.
Transport services make up 27.29% of Trinidad and Tobago's commercial service imports, falling below the average of 34.71%. The country ranks 94th out of 169 countries in this aspect.
Travel services contribute 2.22% to Trinidad and Tobago's commercial service imports, a figure much lower than the average of 14.73%. This places the country at the 157th rank out of 169 countries.
Summary
Trinidad and Tobago stands out in its commercial service imports composition with a higher share in computer, communications, and other services as well as insurance and financial services compared to the global average. However, the country lags behind in the transport and travel services sectors. These indicators are crucial as they reflect the country's dependence on specific service sectors for imports, highlighting potential areas for growth or vulnerability in its economy.
Infrastructure
1. Air transport, freight (million ton-km): Trinidad and Tobago's value of 32.45 million ton-km is significantly below the average of 1384.37 million ton-km, ranking 61 out of 126 countries in the dataset.
2. Air transport, registered carrier departures worldwide: With 12,546 registered carrier departures, Trinidad and Tobago falls below the average of 134,365.61 departures, ranking 73 out of 149 countries.
3. Air transport, passengers carried: Trinidad and Tobago's 677,670 passengers carried is notably lower than the average of 11,848,242.70 passengers, placing the country at the 83rd rank out of 149 countries.
4. Container port traffic (TEU: 20 foot equivalent units): The container port traffic in Trinidad and Tobago amounts to 406,778 TEU, far below the average of 6,907,110.27 TEU, ranking 87 out of 110 countries.
Summary
Trinidad and Tobago exhibits below-average performance in key macroeconomic indicators related to air transport and container port traffic. The country ranks low in air transport metrics such as freight ton-km, registered carrier departures, and passengers carried, as well as in container port traffic measured in TEUs. These indicators are crucial as they reflect the country's connectivity, trade volume, and economic integration with the global market. The lower rankings could signify challenges in infrastructure, logistics, and competitiveness, highlighting areas that may require attention for enhancing the country's economic development and international trade relations.
Information Technology Infrastructure
Trinidad and Tobago has 476 secure internet servers, placing it at rank 135 out of 193 countries. This value is significantly below the attribute average of 458,294.1917 servers.
With 313.54 secure internet servers per 1 million people, Trinidad and Tobago ranks 110 out of 193 countries. This value is notably lower than the attribute average of 14,067.1722 servers per 1 million people.
78.67% of individuals in Trinidad and Tobago use the internet, ranking the country 66 out of 180 included nations. This percentage is higher than the attribute average of 64.7685%.
Trinidad and Tobago has 376,771 fixed broadband subscriptions, placing it at rank 98 out of 185 countries. This value is considerably below the attribute average of 6,591,956.3514 subscriptions.
With 1,987,996 mobile cellular subscriptions, Trinidad and Tobago ranks 141 out of 193 countries. This number is notably lower than the attribute average of 42,526,463.8653 subscriptions.
Summary
Trinidad and Tobago lags behind global averages in terms of secure internet servers, secure internet servers per 1 million people, fixed broadband subscriptions, and mobile cellular subscriptions. While internet usage in the country is relatively high compared to the global average, the infrastructure and access to internet-related services seem to be significantly below the worldwide standard. These statistics are crucial as they indicate potential limitations in connectivity, hindering the country's competitiveness in the digital economy and overall technological advancement.
Energy Consumption
Trinidad and Tobago's renewable energy consumption only accounts for 0.47% of the total final energy consumption, which is significantly below the average of 32.18%. With a rank of 184 out of 191 countries, there is considerable room for improvement in shifting towards renewable sources.
In terms of CO2 emissions, Trinidad and Tobago produces 15,420 kt, much lower than the average of 171,895.94 kt. Ranking 92 out of 188 countries, the nation performs relatively well in emissions but can still aim for further reductions to align with global sustainability goals.
Summary
Trinidad and Tobago's renewable energy consumption at 0.47% of total final energy consumption is significantly below the global average of 32.18%, ranking the country 184th out of 191 nations. This indicates a pressing need for Trinidad and Tobago to enhance its utilization of renewable energy sources for a more sustainable and resilient energy sector. Additionally, the country's comparatively low CO2 emissions of 15,420 kt (ranking 92nd out of 188 countries) showcase a relatively positive performance in emissions management. However, continued efforts to reduce emissions further will be crucial for Trinidad and Tobago to contribute meaningfully to global sustainability efforts and combat climate change effectively.
Government Balance Sheet
Trinidad and Tobago's reserves and related items (BoP, current US$) are valued at $4,276,480.18, ranking 93 out of 171 countries. This value is significantly below the attribute average of $1,924,407,186.58.
The country's total reserves minus gold (current US$) amount to $6,835,740,983.56, ranking 81 out of 161 countries. This value is notably below the attribute average of $74,221,588,171.61.
Trinidad and Tobago's total reserves (includes gold, current US$) stand at $6,953,756,951.24, ranking 86 out of 161 countries. This value is substantially below the attribute average of $85,708,019,773.47.
With total reserves in months of imports at 9.98, Trinidad and Tobago ranks 33 out of 151 countries, above the attribute average of 7.10. This indicates a healthy buffer in terms of import coverage.
Summary
Trinidad and Tobago exhibits lower than average values in various key macroeconomic indicators related to reserves and import coverage. The country's reserves and related items, total reserves minus gold, and total reserves including gold are all significantly below the attribute averages. However, Trinidad and Tobago's total reserves in months of imports are above average, indicating a healthy buffer in terms of import coverage.
These findings are important as they suggest that Trinidad and Tobago may have limited financial resilience compared to other countries, as reflected in its below-average reserves. However, the above-average import coverage indicates a strong ability to withstand external shocks and maintain stable trade activities, despite lower reserve levels.
Top Stats
Ranks in Top Decile For:
| Attribute | Rank/Total |
|---|---|
| Natural gas rents (% of GDP) | 7/96 |
| Fertilizer consumption (kilograms per hectare of arable land) | 17/187 |
| Insurance and financial services (% of service exports, BoP) | 7/161 |
| Insurance and financial services (% of commercial service exports) | 9/161 |
| Ores and metals imports (% of merchandise imports) | 11/152 |
| Insurance and financial services (% of service imports, BoP) | 8/169 |
| Insurance and financial services (% of commercial service imports) | 10/169 |
Ranks in Bottom Decile For:
| Attribute | Rank/Total |
|---|---|
| Cereal production (metric tons) | 158/174 |
| Aquaculture production (metric tons) | 173/180 |
| Industrial design applications, nonresident, by count | 107/112 |
| Patent applications, residents | 117/117 |
| Agricultural raw materials exports (% of merchandise exports) | 142/151 |
| High-technology exports (% of manufactured exports) | 148/150 |
| International tourism, expenditures (% of total imports) | 128/131 |
| Fuel imports (% of merchandise imports) | 144/152 |
| Travel services (% of service imports, BoP) | 157/169 |
| Travel services (% of commercial service imports) | 157/169 |
| Renewable energy consumption (% of total final energy consumption) | 184/191 |