Trinidad and Tobago2020 Product Exports | Imports: $6.3B | $4.82B, 104 of 226 | 134 of 226
2020 Per Capita Product Exports | Imports: $4.5k | $3.44k, 32 of 219 | 88 of 219
2020 Service Exports | Imports : $453M | $1.75B, 59 of 65 | 52 of 65
Overview In 2020 Trinidad and Tobago was the number 104 economy in the world in terms of total exports and the number 134 in total imports.
Exports The top exports of Trinidad and Tobago are Petroleum Gas ($2.14B), Acyclic Alcohols ($916M), Ammonia ($824M), Crude Petroleum ($733M), and Iron Reductions ($417M), exporting mostly to United States ($2.26B), Spain ($512M), China ($291M), Guyana ($272M), and Netherlands ($216M).
Imports The top imports of Trinidad and Tobago are Refined Petroleum ($643M), Cars ($192M), Iron Ore ($176M), Excavation Machinery ($153M), and Special Purpose Ships ($135M), importing mostly from United States ($2.18B), China ($340M), Guyana ($282M), Brazil ($214M), and United Kingdom ($188M).
Location Trinidad and Tobago borders Barbados, Grenada, Guyana, and Venezuela by sea.
The following section uses the most recent trade data from partners of Trinidad and Tobago.
Disclaimer: data is presented based on availability and only countries that use the harmonized system are being shown.
*All data is converted to USD using January 2020 exchange rates when data is reported in local currency.
The data obtained is mirror data. The trade of countries that do not report current data can be reconstructed based on data reported by partner countries with current data available.
*All data is converted to USD using January 2020 exchange rates when data is reported in local currency.
Top Export (2020): Petroleum Gas, $2.14B
Top Destination (2020): United States, $2.18B
In 2020, Trinidad and Tobago exported a total of $6.3B, making it the number 104 exporter in the world. During the last five reported years the exports of Trinidad and Tobago have changed by -$5.61B from $11.9B in 2015 to $6.3B in 2020.
The most recent exports are led by Petroleum Gas ($2.14B), Acyclic Alcohols ($916M), Ammonia ($824M), Crude Petroleum ($733M), and Iron Reductions ($417M). The most common destination for the exports of Trinidad and Tobago are United States ($2.26B), Spain ($512M), China ($291M), Guyana ($272M), and Netherlands ($216M).
Fastest Growing Export Markets (2019 - 2020)
Fastest Growing Import Markets (2019 - 2020)
Trinidad and Tobago Exports Services (2020): $453M
Trinidad and Tobago Imports Services (2020): $1.75B
In 2020, Trinidad and Tobago exported $453M worth of services. The top services exported by Trinidad and Tobago in 2020 were Personal travel ($123M), Other direct insurance ($105M), Sea transport ($64.8M), Miscellaneous business, professional, and technical services ($53.6M), and Air transport ($39.7M).
The top services imported by Trinidad and Tobago in 2020 were Miscellaneous business, professional, and technical services ($640M), Sea transport ($450M), Reinsurance ($307M), Financial services ($77.5M), and Embassies and consulates ($51.2M).
Trinidad and Tobago has a high level of specialization in Ammonia (339), Iron Reductions (276), Acyclic Alcohols (91.8), Nitrogenous Fertilizers (41.4), and Petroleum Gas (26.1). Specialization is measured using RCA, an index that takes the ratio between Trinidad and Tobago observed and expected exports in each product.
The highest complexity exports of Trinidad and Tobago according to the product complexity index (PCI) are Drafting Tools (1.84), Excavation Machinery (0.98), Paintings (0.65), Other Inorganic Acids (0.53), and Other Paints (0.41). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.
The top export opportunities for Trinidad and Tobago according to the relatedness index, are Soap (0.078), Cocoa Beans (0.078), Scrap Aluminium (0.076), Gold (0.076), and Fish Fillets (0.075). Relatedness measures the distance between a country's current exports and each product. The barchart show only products that Trinidad and Tobago is not specialized in.
The product space is a network connecting products that are likely to be co-exported. The product space can be used to predict future exports, since countries are more likely to start exporting products that are related to current exports. Relatedness measures the distance between a product, and all of the products a country currently specializes in.
The Complexity-Relatedness diagram compares the risk vs strategic value of a country's potential export oppotunities. Relatedness is predictive of the probability that a country increases its exports in a product. Complexity, is associated with higher levels of income, economic growth, less income inequality, and lower greenhouse emissions.
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