Trinidad and Tobago Economy Contracts 3.6 Percent: Report

By: Caribbean Journal Staff - November 19, 2012

Above: Port of Spain

By the Caribbean Journal staff

The economy of Trinidad and Tobago contracted by 3.6 percent on a year-to-year basis to June 2012, according do the Central Bank’s Summary of Economic Indicators.

Output in the country’s energy sector fell by 7.3 percent in the same period, due largely to prolonged maintenance work and security upgrades at several major energy plants, the bank said.

Crude oil production amounted to 20,219 thousand barrels for the first eight months of 2012, 11.3 percent below the same period in 2011.

Natural gas production fell 0.1 percent from January to August of 2012, compared to the same period in 2011.

Headline inflation , measured on a year-to-year basis, slowed to 7.7 percent in September, down from 7.9 percent in August.

Food inflation fell 14.7 percent in September, from a high of 28.3 percent in May.

Real GDP fell by 1.3 percent in Trinidad in 201, according to the International Monetary Fund.

The fund had predicted growth to resume this year.

Popular Posts all-inclusive montego bay resort by marriott

Marriott Just Opened Its New All-Inclusive Resort in Montego Bay 

Marriott has continued its rapid expansion into the Caribbean all-inclusive space with the debut of its newest adults-only resort in Montego Bay: the new Hideaway at Royalton Blue Waters, An Autograph Collection All-Inclusive Resort.  The 352-room resort is part of […]

Yes, You Can Stay at an All-Inclusive Resort in St Thomas, USVI

the beach at the bolongo bay resort

The Bolongo Bay Beach Resort on St. Thomas may be the most popular all-inclusive resort you’ve never heard of. It’s not that the resort itself isn’t well-known: this family-run and managed, beach resort has been in business since 1974. But […]

The 15 Best Spa Resorts in the Caribbean

como parrot cay

Resort spas have become almost as common as fitness centers on amenity lists, but while it’s simple enough to carve out some space for a few treatment rooms, there are some spas that offer a true “experience” to go along […]

Related Posts Trinidad British Airways Nonstop

British Airways Is Launching New Nonstop Flights to Trinidad

Doubles, anyone?  British Airways is launching new nonstop flights to Port of Spain this month, Caribbean Journal has learned.  The new nonstop route from London Gatwick will launch Sunday, March 26, according to British Airways.  The route will be operating […]

Caribbean Airlines Is Adding Flights for Trinidad Carnival

caribbean trinidad

The Caribbean’s most popular Carnival is back next month, and Caribbean Airlines has announced an expansion of flight services for the festival.  That includes additional flights between Toronto, Canada and Port of Spain, with two flights on Feb. 13 and […]

Caribbean Photo of the Week: Little Rocky Bay, Tobago

a palm tree hanging over the beach in little rocky bay, tobago

The latest Caribbean Photo comes from Caribbean Journal reader Eukene Hernández-Breton, who sent in this stunning shot of a palm tree hanging over the beach in Little Rocky Bay, Tobago. Have you taken a great photo in the Caribbean? Send […]


Sign up for Caribbean Journal's free newsletter for a daily dose of beaches, hotels, rum and the best Caribbean travel information on the net.

No. Thank You