A Guide to Investing in Trinidad and Tobago (2011) - Ministry of ...

Population, Employment and Labour Force
Figure 2: Population, labour force and employment (2004 to mid-year, 2010)
Sector 2004** 2005** 2006** 2007** 2008** 2009** 2010**p
TOTAL POPULATION 1,290,646 1,249,494 1,297,944 1,303,188 1,308,587 1,310,106 1,317,714
% Change 0.6 0.3 0.3 0.4 0.4 0.4 0.6
TOTAL MALE 647,259 649,189 650,919 653,549 656,257 657,018 660,882
% Change 0.8 0.3 0.3 0.4 0.4 0.1 0.6
TOTAL FEMALE 643,387 645,305 647,025 649,639 652,330 653,088 656,892
% Change 0.5 0.3 0.3 0.4 0.4 0.1 0.6
Dependency Ration (%) 48.0 48.0 48.0 48.0 48.0 48.0 48.0
Non Institutional Pop. 15 yrs and over 973,600 979,000 978,300 980,900 987,000 991,100 -
Labour Force *** 613,400 623,700 625,200 622,400 626,600 621,000 -
Persons Employed 562,200 574,000 586,200 587,800 597,700 588,400 -
Persons Unemployed 51,100 49,700 39,100 34,600 29,000 32,600 -
Participation Rate (%) 63.0 63.7 63.9 63.5 623.5 62.7 -
Unemployment Rate (%) 8.3 8.0 6.2 5.6 4.6 5.3 5.7
Births per 1,000 persons 14.23 13.80 13.70 13.95 14.12 15.25 15.40
Deaths per 1,000 persons 7.88 7.74 7.69 7.60 7.70 7.68 7.68
Crude Natural Growth Rate per 1,000 6.35 6.06 6.01 6.35 6.42 7.57 7.72
At the beginning of 2010, the recovery in energy
prices, served to alleviate pressures in the foreign
exchange market. In the period January to June
2010, purchases from the public (including energy
companies) by authorised foreign exchange dealers
increased to US$1,922.9 million, from US$1,714.0
million (the amount purchased in the corresponding
period of the previous year). While sales to the public
fell to US$2,550.6 million, from US$2,679.3. The
Central Bank reduced its intervention in the market
selling US$620 million between January and June
2010, compared with US$963.6 million over the corresponding
period in the previous year. The weighted
average buying rate for the United States (US) dollar
increased steadily from TT$6.2719 in July 2009
to peak at TT$6.3360 in December 2009. This rate
has since fluctuated within a narrow band and stood
at TT$6.3197 per US dollar at the end of June 2010,
compared with TT$6.2606 at the end of June 2009.
During the twelve (12) month period from July 2009
to July 2010, the average buying rate of the United
States dollar appreciated from $6.2719 to $6.3239.
Within the same period, the selling rate increased
from $6.3367 to $6.3771.
The exchange rate now stands at approximately
US$1=TT$6.4.
Investment In Trinidad And Tobago
The Government of the Republic of Trinidad and Tobago
(GORTT) welcomes foreign direct investment.
Source: Review of the Economy 2010
* Data refers to January – March 2010 period
** Figures based on 2000 census
*** Figures based on CSSP estimates
p: Provisional
Unemployment Rate figures:
2006 - 6.2%
2007 - 5.6%
2008 – 4.6%
2009 – 5.3%
2010 – 5.7%
“…GORTT encourages the creation
of new opportunities and the incubation
of new business without
government interference.”
While there are various government bodies to facilitate
investment in the country, GORTT encourages
the creation of new opportunities and the incubation
of new business without government interference.
The Heritage Foundation Index of Economic Freedom
for 2011 ranks Trinidad & Tobago #11 in the Americas
and #52 worldwide out of 179 countries. Foreign
ownership of companies is welcomed, and governed
by the Foreign Investment Act (1990). Among foreign
companies operating in Trinidad and Tobago are com-
A Guide to Investing in Trinidad and Tobago (2011) 17