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2021
Economic Complexity
Technology -1.23Rank 82 of 96
2022
Economic Complexity
Research -0.95Rank 121 of 140
2023
Product
Exports | Imports $11.7B | $7.13B98 of 226 |  130 of 226
2023
Per Capita Product
Exports | Imports $8.53k | $5.21k43 of 220 |  94 of 220

About

Overview In 2023 Trinidad and Tobago was the number 98 economy in the world in terms of total exports and the number 130 in total imports.

Exports The top exports of Trinidad and Tobago are Petroleum Gas ($3.67B), Acyclic alcohol derivatives (halogenated, sulphonated, nitrated) ($1.75B), Ammonia ($1.67B), Crude Petroleum ($1.55B), and Iron Reductions ($617M), exporting mostly to United States ($3.26B), China ($783M), Guyana ($625M), Chile ($605M), and Netherlands ($564M).

In 2023, Trinidad and Tobago was the world's biggest exporter of Ammonia ($1.67B)

Imports The top imports of Trinidad and Tobago are Railway Cargo Containers ($1.19B), Refined Petroleum ($686M), Cars ($320M), Iron Ore ($273M), and Excavation Machinery ($257M), importing mostly from United States ($2.06B), Guyana ($1.9B), China ($558M), Brazil ($289M), and Canada ($199M).

In 2023, Trinidad and Tobago was the world's biggest importer of Railway Cargo Containers ($1.19B)

Location Trinidad and Tobago borders Barbados, Grenada, Guyana, and Venezuela by sea.

Latest Trends

Latest Trade

Flow
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Y-AXIS SCALE

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.

* Trade values are converted to USD using each month's exchange rate. For December 2023 data, the exchange rate from December 30, 2023 is used.

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Latest Data

Flow
Color
Depth

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.

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Historical Data

Yearly Trade

Flow
Color
Depth
Top Export (2023)Petroleum Gas$3.67B
Top Destination (2023)United States$3.26B

In 2023, Trinidad and Tobago exported a total of $11.7B, making it the number 98 exporter in the world. During the last five reported years the exports of Trinidad and Tobago have changed by -$2.16B from $13.8B in 2018 to $11.7B in 2023.

The most recent exports are led by Petroleum Gas ($3.67B), Acyclic alcohol derivatives (halogenated, sulphonated, nitrated) ($1.75B), Ammonia ($1.67B), Crude Petroleum ($1.55B), and Iron Reductions ($617M). The most common destination for the exports of Trinidad and Tobago are United States ($3.26B), China ($783M), Guyana ($625M), Chile ($605M), and Netherlands ($564M).

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Exports (2023)
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Destinations (2023)
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Market Growth

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Growth
Fastest Growing Export Markets (2022 - 2023)
China$406M (+ 108%)
Croatia$219M (+ 838%)
Barbados$121M (+ 35.6%)
Fastest Growing Import Markets (2022 - 2023)
Guyana$1.85B (+ 3.48k%)
Belgium$85.7M (+ 136%)
New Zealand$73.1M (+ 136%)

Total Export Growth by Market (2022 - 2023)

Potential Exports

Potential Exports

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Service Trade

Service Trade

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).

Service Exports (2020)

Service Imports (2020)

Economic Complexity

Overview

Economic Complexity (Technology)-1.23Rank 82 of 96
Economic Complexity (Research)-0.95Rank 121 of 140

Most Specialized Products by RCA Index

Trinidad and Tobago has a high level of specialization in Ammonia (360), Iron Reductions (224), Acyclic alcohol derivatives (halogenated, sulphonated, nitrated) (103), Flexible Metal Tubing (31.3), and Nitrogenous Fertilizers (20.7). Specialization is measured using RCA, an index that takes the ratio between Trinidad and Tobago observed and expected exports in each product.

Most Complex Products by PCI

The highest complexity exports of Trinidad and Tobago according to the product complexity index (PCI) are Tools, hand; hand-operated spanners and wrenches (including torque meter wrenches but not... (1.53), Boat Propellers (1.09), Machinery parts; used solely or principally with the machinery of heading no.... (1.03), Tubing; flexible, with or without fittings, of base metal (0.8), and Articles of vulcanised rubber other than hard rubber, n.e.c. in chapter 40 (0.75). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.

Export Opportunities by Relatedness

The top export opportunities for Trinidad and Tobago according to the relatedness index, were Hard Liquor (0.077), Wheat Flours (0.076), Cocoa Beans (0.075), Scrap Aluminium (0.074), and Other Animals (0.074). 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.

Product Space

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.

Relatedness Space

This network shows the products most related to the production structure of Trinidad And Tobago. These are products that tend to be co-exported with the products that Trinidad And Tobago exports. Higher relatedness values ​​indicate greater knowledge, which predicts a greater probability of exporting that product in the future.

Relatedness Space (2023)

Diversification Frontier

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Depth

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.

Diversification Frontier

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