IMF Staff Country Reports

Trinidad and Tobago: Economic Developments and Selected Background Issues

Publication Date:

March 14, 1995

Summary:

This paper examines economic developments in Trinidad and Tobago during 1990–94. Economic activity in 1992–93 was severely affected by a fall in output in the oil/gas sector, a sharp drop in the average oil export price, and persisting weakness in the nonpetroleum sector. As a result, real GDP declined further by a cumulative 3½ percent in the two-year period, and unemployment rose to more than 20 percent. Real domestic expenditure fell by 3½ percent a year, with declines in both consumption and investment.

Series:

Country Report No. 1995/016

Subject:

Expenditure External debt Labor Monetary base Money Public debt Public sector Social assistance spending Unemployment

Notes:

This report on economic developments and selected background issues in Trinidad and Tobago was prepared by a staff team of the International Monetary Fund as background documentation for the periodic consultation with this member country. In releasing this document for public use, confidential material may have been removed at the request of the member.