Trinidad and Tobago: Economic Developments and Selected Background Issues

International Monetary Fund

No 1995/016, IMF Staff Country Reports from International Monetary Fund

Abstract: 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.

Keywords: ISCR; CR; export of crude oil; island of Tobago; investment; capital goods; gas export price; parliamentary system of government; employment opportunity; Monetary base; Social assistance spending; Unemployment; Caribbean (search for similar items in EconPapers)
Pages: 162
Date: 1995-03-14
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