Craig Lee | PAI 757 | April 21, 2014

TRINIDAD & TOBAGOECONOMIC AND URBAN DEVELOPMENT

• History of Trinidad and Tobago

• Economic Growth/Development

• Current Challenges of Economic Growth

• Urban Development

• Current Challenges of Urban Development

• Conclusion

AGENDA

• Obtained Independence from England in 1962

• Became the Republic of Trinidad and Tobago 1976

• Agricultural economy (past)

• Major Exports: Petroleum, ammonia, acrylic alcohols

• Major Exporters: United States, Argentina, Spain

• Major Imports: Petroleum, iron ore, fertilizers

• Major Importers: Colombia, Brazil, United States

HISTORY OF

TRINIDAD AND TOBAGO

• Industrialized Economy

• Expanding financial and tourism industries

• Agriculture represents 3.1 percent of GDP

• Annual percentage growth rate of GDP is 2.4 (decreasing)

• Annual gross savings of 21.6 percent of GDP (increasing)

• Charges for the use of intellectual property, payments

• GDP per capita $10,291 (increasing)

• GNI per capita $12,209 (increasing)

• Exports of goods and services 30 percent of GDP

• Net official development assistance (ODA) (decreasing)

ECONOMIC GROWTH & DEVELOPMENT

CHALLENGES OF

ECONOMIC GROWTH & DEVELOPMENT• The energy sector employs only 5 percent of citizens

• Dual Economy

• Pro-cyclical fiscal policy

• Fiscal responsibility

• Diversifying the economy

• High level corruption

• Limited government

• 15 percent of the population resides in the largest urban city

• 79.3 (percent of population) has access to improved sanitation

• 94.6 percent has access to improved water resources

• 168 residents per 1,000 have access to transportation (increasing)

• Particulate matter concentration 61.4 micrograms per cubic meter (decreasing)

• 20 percent live below the poverty line (US$6.75 per day).

URBAN DEVELOPMENT

CHALLENGES OF

URBAN DEVELOPMENT• Crime

• Lack of integration among social, economic, and environmental goals

• Sector based approaches have not led to sustainability

• High level corruption

CONCLUSION

TRINIDAD AND TOBAGO• GDP (PPP) is $26.7 billion

• Economic Freedom Score is 62.7

• Average tariff is 5.7

• Employment challenges: “Brain Drain”

• Volatile economy

• Growth based on Industrialization rather than agriculture

WORKS CITED

Artana, D., Auguste, S., Moya, R., Sookram, S., & Watson, P. (2007). Trinidad and Tobago: Economic Growth in a Dual Economy. Inter American Development Bank.

Foundation, T. H. (2014). Trinidad and Tobago. Retrieved from 2014 Index of Economic Freedom: http://www.heritage.org/index/country/trinidadtobago

Trinidad and Tobago. (2014). Retrieved from Observatory of Economic Complexity : http://www.gotrinidadandtobago.com/trinidad-tobago-history/

Pictures were obtained from: (slides 1,4,8)https://www.google.com/search?q=trinidad+and+tobago&source=lnms&tbm=isch&sa=X&ei=So9UU7nkKMLhsATl54LoAw&ved=0CAcQ_AUoAg&biw=1366&bih=640