Trinidad and Tobago: Facts & Stats

ECONOMY

Industry:

Petroleum has dominated the economy since the 1950s, when offshore production began. In 1999, there were 18 international companies involved in oil and gas exploration and production, while the state-owned Petroleum Company of Trinidad and Tobago (Petrotrin) was involved in extraction and refining at its refinery at Pointe-á-Pierre. The oil and gas sectors are divided between foreign and national companies, the former paying the government a royalty on all oil and gas produced. In the 1990s, production of refined petroleum averaged 125,000 barrels per day.

Trinidad and Tobago's manufacturing sector is very different from that of other Caribbean countries in that it does not depend on cheap labor or the export of garments and electronics into the United States. Instead, the emphasis is on heavy industry and petrochemicals, all related to bountiful natural resources. Unlike other smaller Caribbean countries, Trinidad and Tobago is home to several large local companies, producing a wide range of consumer goods for national and regional markets. Manufacturing depends to a large degree on the availability of cheap fuel.

Agriculture:

Agriculture experienced a sharp decline during the oil-boom decade of the 1970s, when food imports increased and wage levels in agricultural jobs were low in comparison to other sectors. Sugar remains the main export crop and the main employer, especially during the cane-cutting season.

Most production is carried out by the state-owned Caroni Ltd., which has 2 sugar factories, but smaller, independent farmers were responsible for growing 56 percent of cane in 1999. There have been repeated calls for the government to sell its sugar operations or to gradually abandon the industry altogether, but this would cause widespread unemployment.

Cocoa and coffee have also declined in importance, with only 1,160 tons of cocoa and 343 tons of coffee produced in 1999. Some exotic flowers are exported to the United States, and a wide range of fruits and vegetables are grown for local consumption.

Research & Development:

The research and development thrust of the Trinidad & Tobago Unit has been on hot peppers, small ruminants and organic agriculture. The hot peppers program has focused on selecting and stabilizing the landraces of Trinidad and Tobago and compiling production and marketing tech-packs.

The small ruminants program has concentrated on improvements in nutrition, health and breed as a means of contributing to the development of the regional small ruminant industry. The Institute’s Organic Agronomist is resident in the Unit and has been spearheading the development of organic agricultural systems.

Recently, the research and development portfolio of CARDI Trinidad and Tobago has expanded to include the validation and transfer of technologies for developing the sweet potato and cassava industries in the twin-island republic. Furthermore, the role of information services in the research and development processes is being emphasized by the Unit.

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