Why it is so hard to get USD in Trinidad & Tobago – By Marla Dukharan

  • How does the foreign exchange earnings system in Trinidad and Tobago work?

Flag: Trinidad & Tobago

Like any country, Trinidad & Tobago earns foreign exchange from a variety of sources – from remittances sent from overseas, from investments we as a nation (private and public sectors) have made abroad, from tourism and other services we export, from foreigners who invest in our country (FDI) for example, but mostly our foreign exchange earnings come from our (net) exports of LNG and other energy related products such as gasoline and diesel, and petrochemicals such as ammonia and methanol.

As Charts 1 and 2 show, in 2018, 86% of our total exports came from the energy sector. This was the highest level of export concentration on energy since 2011, and shows that instead of becoming more diversified, our economy has become more energy dependent. Why did this happen?

READ MORE:  Why-it-is-harder-to-get-USD-in-TT-than-anywhere-else in the Caribbean 

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Comments

  • kamtanblog  On September 8, 2019 at 2:46 am

    Simple Simon says
    T+T
    ALL EGGS IN ONE BASKET ?

    Diversify to survive
    Survival of the most adaptable of the species

    Darwin re-written

    Guyana take note ..be aware

    Do not repeat the mistakes of T+T

    Kamtan

  • Trevor  On September 8, 2019 at 10:01 pm

    Trini businessman in GT exchanging for US dollars and they setting shop. But how come? Trinidad has been in oil & gas for over 100 years, while we, in Guyana don’t even know how to fill gas tank by ourselves because we got attendants for that.

    Who robbed Trinidad of the oil?

  • wally n  On September 9, 2019 at 10:57 am

    i have only one piece of advice for Guyanese….WHAT EVER TRINIDAD DO/DID…DO THE OPPOSITE. Here is what makes me laugh..ready… YOUNG TRINIDADIANS MUST GET INTO FARMING….HAAAA GOOD LUCK WITH THAT!

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