Cover IMF Staff Country Reports
Trinidad and Tobago: Economic Developments and Selected Background Issues
Author: International Monetary Fund
Series:
IMF Staff Country Reports
Volume/Issue:
Volume 1995: Issue 016
Language:
English
Publication Date:
14 Mar 1995
DOI:
https://doi.org/10.5089/9781451837520.002
ISBN:
9781451837520
ISSN:
1934-7685
Pages:
162
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
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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.
Cover IMF Staff Country Reports
IMF Staff Country Reports
ISSN:
1934-7685
Publisher:
International Monetary Fund