Tag Archives: Analysis – Trinidad & Tobago – By Marla Dukharan

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?

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