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Trinidad & Tobago

Trinidad & Tobago is located off the northeast coast of Venezuela. The country consists of two main islands, Trinidad and Tobago, and 21 smaller islands. Trinidad is the larger and more populous of the main islands and Tobago is much smaller, comprising about 6% of the total area and 4% of the population.

Market Overview

  • Trinidad and Tobago (TT) is a high-income developed country with a GDP per capita of over US $20,000, and an annual GDP of US $24 billion. Energy exploration and production drive the TT economy. In 2014, the energy sector accounted for approximately 35 percent of the country’s GDP and 80 percent of its export earnings. Besides the energy sector, the biggest economic contributors are the manufacturing and services sectors.
  • Within the English-speaking Caribbean Community (CARICOM) group, it has the largest economy and is the third most populous country with approximately 1.3 million inhabitants. …more

Market Challenges

  • Trinidad and Tobago has an independent judicial system that is procedurally and substantively fair, but the resolution of legal conflicts is time consuming. The World Bank Doing Business report ranks TT at 180 out of 189 countries in enforcing contracts largely because of the delays. …more

Market Opportunities

  • TT is a small island state with a trade surplus thanks to hydrocarbon wealth but without capacity to meet all needs internally, so it must import.
  • Equipment required for light manufacturing, safety/security products, and ICT products that improve productivity and efficiency.

Market Entry Strategies

  • Visiting the market and making personal connections with local partners, agents, distributors or clients is the optimal strategy to enter the TT market. A local partner is usually required to apply for government procurement projects.
  • Any company interested in entering the TT market should conduct extensive due diligence before committing.

Best Prospects 

Go to: Entire Country Commercial Guide


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