Craig Lee | PAI 757 | April 21, 2014 TRINIDAD & TOBAGO ECONOMIC 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: Trinidad and Tobago. (2014). Retrieved from Observatory of Economic Complexity : Pictures were obtained from: (slides 1,4,8) &ved=0CAcQ_AUoAg&biw=1366&bih=640