Trinidad and Tobago

A twin island country off the northern edge of the South American mainland, Trinidad and Tobago boasts a robust economy primarily sustained by its large oil and gas reserves, which account for approximately half the GDP, 80% of export earnings, and attract the lion’s share of foreign investment. The country’s stable democracy, educated English-speaking workforce and well-regulated financial system contribute to its investment appeal and make it one of the wealthiest nations in Latin America. The government is also targeting increased investment and growth in tourism, agriculture, information and communications technology. Trinidad and Tobago maintains a large sovereign wealth fund and is a member of CARICOM, the Caribbean Community.

Despite these strengths, challenges persist. Lack of transparency and burdensome bureaucracy, low labor productivity and inefficient government bureaucracy hinder progress. The over-dependence on oil and gas discourages private-sector development.