Trinidad and Tobago: Economic Developments and Selected Background Issues

March 14, 1995

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Trinidad and Tobago: Economic Developments and Selected Background Issues, (USA: International Monetary Fund, 1995) accessed September 20, 2024

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.

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

Keywords: Capital goods, Caribbean, CR, Employment opportunity, Export of crude oil, Gas export price, Investment, ISCR, Island of Tobago, Monetary base, Parliamentary system of government, Social assistance spending, Unemployment

Publication Details

Pages:

162
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 1995/016
Stock No:

1TTOEA0011995
ISBN:

9781451837520
ISSN:

1934-7685

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.

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