Links Between The Location And The Economy Of Trinidad And Tobago

Links between the location and the economy of Trinidad and Tobago

The Republic of Trinidad and Tobago is an independent country composed of 2 islands .These islands are located in the south of the Caribbean sea and 17 km from the northern coast of the south American continent. Trinidad and Tobago took its independence from Great Britain in 1962.

Situated near Venezuela, Trinidad possesses like its neighbour a large quantity of oil and gas resources. Its industries are mainly dependant on natural gas and oil, including petrochemicals, fertilizers, iron, steel and aluminum. Activities linked to natural gas are the main economic engine of these islands.

Thanks to the tropical climate and the proximity of the sea, the tourist sector remains important but it’s still not as developed as in other Caribbean countries.

Traditionally, agriculture played the major role in the economy. At first, these islands were colonies where sugarcane was cultivated. During the 19th century and the beginning of the 20th century, sugar cane was replaced by cocoa as the main agricultural product.Cocoa’s incomes has since decreased to the profit of petroleum related products.

Nowadays, the agricultural sector is modest. It exports citrus fruit, cocoa, coffee and sugarcane.

The economy of Trinidad and Tobago is remains dependant on the production and the exportation of petrol and natural gas. In 1998 it was estimated that the stock of petrol would allow the current level of production to be maintained for some 12 years whereas for natural gas, the figure is 55 years.

To ensure long term economic stability, it is necessary for this economy to be less dependent on the petroleum sector.

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