Trinidad “On a Path of Recovery”
Above: Port of Spain (CJ Photo)
By the Caribbean Journal staff
Trinidad’s local economy has grown in each of the last four quarters, and appears to be “on a path of recovery,” according to the country’s Central Bank.
The Central Bank said the country had seen “slow but steady year-on-year growth” from July 2012 to June 2013, driven by the non-energy sector.
It’s a trend that is expected to continue in the second half of this year, the Bank said, as planned maintenance of gas and downstream plants will impact the performance of the energy sector.
Economic activity in Trinidad has expanded at an average rate of 1.7 percent year-on-year for four consecutive quarters, according to the Central Bank’s Quarterly Real GDP Index.
The non-energy sector actually saw output rise by almost two percent in that period.
That follows four consecutive quarters averaging a contraction of 1.6 percent.