TRINIDAD & TOBAGO: Energy Dependent
Trinidad & Tobago’s economy is dependent on oil and gas. An expected rise in energy prices could help erode the deficit, cutting international funding needs.
by Taina Rosa
The government of Trinidad & Tobago (T&T) is
forecasting a deficit of 5.4% of GDP this year, but it is
possible that rising oil and gas prices could shrink that. This
would mean lower financing needs for the government.
About 90% of
T&Ts exports are energy-related, according to
JPMorgan. Fluctuations in the price of oil and gas can hurt or
help GDP growth.
In 2010, T&T is
expected to pump 150,000 barrels per day of oil and gas
liquids, according to London-based research firm Business
Monitor International. In 2008 it produced 154,000 barrels per
day and in 2009 it produced 152,000 barrels per day. By 2019,
BMI is forecasting T&Ts output will tumble to 90,000
barrels per day, owing to lack of drilling and wells
According to information from the US-based Energy
Information Administration (EIA),...
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