Trinidad and Tobago : Economic Developments and Selected Background Issues.

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 decli...

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Bibliographic Details
Corporate Author: International Monetary Fund
Format: Journal
Language:English
Published: Washington, D.C. : International Monetary Fund, 1995.
Series:IMF Staff Country Reports; Country Report ; No. 1995/016
Online Access:Full text available on IMF
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520 3 |a 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 3 1\2 percent in the two-year period, and unemployment rose to more than 20 percent. Real domestic expenditure fell by 3 1\2 percent a year, with declines in both consumption and investment. 
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