© 2007 International Monetary Fund
January 2007
IMF Country Report No. 07/9
Trinidad and Tobago: Statistical Appendix
The Statistical Appendix for Trinidad and Tobago was prepared by a staff team of the International
Monetary Fund as background documentation for the periodic consultation with the member country.
It is based on the information available at the time it was completed on September 28, 2006. The
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Washington, D.C.
INTERNATIONAL MONETARY FUND
TRINIDAD AND TOBAGO
Statistical Appendix
Prepared by a staff team consisting of Irineu de Carvalho Filho, Christopher Faircloth
(WHD) and Zsofia Arvai (MFD)
Approved by the Western Hemisphere Department
September 28, 2006
Contents
Page
Real Sector
1.
2.
3.
4.
5.
6.
7.
8.
9.
GDP by Sectors of Origin at Constant 2000 Prices ..........................................................3
GDP by Sectors of Origin, Current Market Prices ...........................................................4
GDP by Expenditure at Constant 2000 Prices ..................................................................5
GDP by Final Expenditure at Current Market Prices .......................................................6
Savings and Investment at Current Market Prices............................................................7
Retail Price Index..............................................................................................................8
Index of Producer Prices by Industry ...............................................................................9
Labor Force and Employment ........................................................................................10
Growth of Production, Earnings, Employment, Hours and Costs in Manufacturing .....11
Fiscal Sector
10.
11.
12.
13.
14.
15a.
15b.
16.
17.
Central Government Operations .....................................................................................12
Central Government Revenue and Grants ......................................................................13
Ratios of Central Government Revenue and Grants.......................................................14
Central Government Expenditure ...................................................................................15
Central Government Expenditure Ratios ........................................................................16
Public Enterprises ...........................................................................................................17
Statutory Bodies..............................................................................................................18
Consolidated Nonfinancial Public Sector .......................................................................19
Summary Accounts of the Consolidated Financial System............................................20
2
Monetary Sector
18.
19.
20.
21.
22.
23.
24.
Monetary Survey.............................................................................................................21
Summary Accounts of the Central Bank ........................................................................22
Consolidated Accounts of the Commercial Banks .........................................................23
Commercial Bank Loans and Advances .........................................................................24
Summary Accounts of the Nonbank Financial Institutions (NBFIs)..............................25
Financial Soundness Indicators––Banking Sector, 2000–2005......................................26
Interest Rates...................................................................................................................27
External Sector
25. Summary Balance of Payments ......................................................................................28
26. Summary of Exports, f.o.b..............................................................................................29
27. Summary of Imports .......................................................................................................30
28. Imports by Country of Origin .........................................................................................31
29. Exports by Country of Destination .................................................................................32
30. Public Sector External Debt............................................................................................33
3
Table 1. Trinidad and Tobago: GDP by Sectors of Origin at Constant 2000 Prices
2001
2002
2003
2004
2005
Real GDP (2000 prices) 1/
53,512
57,747
65,777
71,743
77,427
Energy sector
Crude oil and gas production
Refining, including LNG
Service, marketing, and asphalt
Petrochemicals
16,971
9,573
2,775
2,293
2,329
19,260
11,003
3,468
2,170
2,619
25,285
14,364
5,932
2,252
2,737
27,420
15,551
6,419
2,404
3,046
29,677
17,246
6,532
2,261
3,638
Nonenergy sector
Agriculture
Export
Domestic
Sugar
Manufacturing
Construction
Distribution
Hotel
Government
Financial services
Other
Less: imputed service charge
36,542
758
10
407
341
3,980
4,227
8,169
238
3,830
7,362
7,927
-2,004
38,488
824
18
404
401
4,129
4,012
8,277
246
3,970
8,211
8,577
-1,990
40,493
698
13
402
283
4,329
4,950
8,442
238
3,931
8,814
9,134
-2,181
44,322
532
13
369
150
4,805
5,571
8,715
277
3,955
10,728
9,295
-2,442
47,750
572
10
431
131
5,439
6,442
9,287
272
4,032
11,786
9,889
-2,521
2,056
2,233
2,138
2,886
2,553
Value added tax 2/
Source: Central Statistical Office.
1/ Sectoral constant prices GDP data for 2001 onwards is calculated using different methodology from previous years.
4
Table 2. Trinidad and Tobago: GDP by Sectors of Origin, Current Market Prices
2001
2002
2003
2004
2005
(In millions of Trinidad and Tobago dollars)
Nominal GDP
59,239
60,665
75,681
85,209
102,128
Energy sector
Crude oil and gas production
Refining, including LNG
Service, marketing, and asphalt
Petrochemicals
15,559
8,686
2,399
2,329
2,145
14,765
7,951
2,557
2,535
1,722
25,605
14,889
4,608
2,864
3,244
29,842
18,261
4,329
3,449
3,804
40,616
23,923
6,313
4,407
5,974
Nonenergy sector
Agriculture
Export
Domestic
Sugar
Manufacturing
Construction
Distribution
Hotel
Government
Financial services
Other
43,680
708
11
413
284
4,074
4,353
8,724
236
4,714
7,506
9,070
45,900
787
19
469
298
4,494
4,092
9,287
255
4,333
8,890
9,173
50,076
675
14
427
234
4,477
5,197
9,902
265
5,560
9,182
9,962
55,367
729
16
472
242
5,032
6,184
10,624
310
5,964
10,539
9,925
61,512
741
14
479
248
5,690
7,731
12,212
357
6,523
11,709
10,412
2,116
2,179
2,187
2,401
2,493
2,364
2,889
3,171
3,190
2,948
Less: imputed service charge
Plus: VAT
(In percent of GDP)
Petroleum sector
Crude oil
Refining
Service, marketing, and asphalt
Petrochemicals
26.3
14.7
4.1
3.9
3.6
24.3
13.1
4.2
4.2
2.8
33.8
19.7
6.1
3.8
4.3
35.0
21.4
5.1
4.0
4.5
39.8
23.4
6.2
4.3
5.8
Nonpetroleum sector
Agriculture
Export
Domestic
Sugar
Manufacturing
Construction
Distribution
Hotel
Government
Financial services
Other
73.7
1.2
0.0
0.7
0.5
6.9
7.3
14.7
0.4
8.0
12.7
15.3
75.7
1.3
0.0
0.8
0.5
7.4
6.7
15.3
0.4
7.1
14.7
15.1
66.2
0.9
0.0
0.6
0.3
5.9
6.9
13.1
0.4
7.3
12.1
13.2
65.0
0.9
0.0
0.6
0.3
5.9
7.3
12.5
0.4
7.0
12.4
11.6
60.2
0.7
0.0
0.5
0.2
5.6
7.6
12.0
0.3
6.4
11.5
10.2
3.6
3.7
3.6
4.0
3.3
3.1
3.4
3.7
3.1
2.9
Less: imputed service charge
Plus: VAT
Source: Central Statistical Office.
5
Table 3. Trinidad and Tobago: GDP by Expenditure at Constant 2000 Prices
2001
2002
2003
2004
2005
(In millions of Trinidad and Tobago dollars)
Domestic expenditure
Consumption
Private sector
Government
Gross capital formation
48,565
38,818
32,270
6,548
9,747
55,974
46,102
37,035
9,067
9,872
60,395
50,259
40,738
9,521
10,136
64,861
53,415
42,775
10,640
11,446
69,179
57,203
44,660
12,543
11,975
Net exports
Exports of goods and nonfactor services
Imports of goods and nonfactor services
4,947
30,295
25,348
1,773
25,437
23,665
5,383
26,526
21,143
6,881
28,525
21,644
8,248
34,288
26,040
GDP at constant prices
53,512
57,747
65,777
71,743
77,427
(Annual percentage changes)
Domestic expenditure
Consumption
Private sector
Government
Gross capital formation
Net exports
Exports of goods and nonfactor services
Imports of goods and nonfactor services
GDP at constant prices
9.8
9.4
9.9
6.6
11.5
15.3
18.8
14.8
38.5
1.3
7.9
9.0
10.0
5.0
2.7
7.4
6.3
5.0
11.8
12.9
6.7
7.1
4.4
17.9
4.6
-30.7
-0.4
8.8
-64.2
-16.0
-6.6
203.6
4.3
-10.7
27.8
7.5
2.4
19.9
20.2
20.3
4.2
7.9
13.9
9.1
7.9
6.8
2.3
9.1
6.0
1.9
7.9
(Contribution to growth)
Domestic expenditure
Net exports
GDP at constant prices
Sources: Central Statistical Office; and Fund staff estimates.
8.4
-4.3
4.2
13.8
-5.9
7.9
7.7
6.3
13.9
6
Table 4. Trinidad and Tobago: GDP by Final Expenditure at Current Market Prices
2001
2002
2003
2004
2005
(In millions of Trinidad and Tobago dollars)
Domestic expenditure
Consumption
Private sector
Government
Gross capital formation
Private sector
Government
53,517
35,492
29,351
6,141
10,696
7,471
3,225
57,548
42,821
35,572
7,249
10,826
8,889
1,937
67,568
46,722
37,197
9,526
12,226
9,666
2,560
71,671
55,342
44,388
10,954
15,188
10,682
4,505
73,974
56,483
44,241
12,242
17,479
10,078
7,401
Net exports
Exports of goods and nonfactor services
Imports of goods and nonfactor services
5,723
30,244
24,521
3,117
28,299
25,182
8,114
34,173
26,059
13,538
45,550
32,011
28,154
67,213
39,059
GDP at market prices
Net factor payments
Net transfers
GNP at market prices
59,239
-3,343
207
56,103
60,665
-2,980
338
58,023
75,681
-4,378
364
71,667
85,209
-2,771
337
82,775
102,128
-3,493
331
98,966
(In percent of GDP)
Domestic expenditure
Consumption
Private sector
Government
Gross capital formation
Private sector
Government
90.3
59.9
49.5
10.4
18.1
12.6
5.4
94.9
70.6
58.6
11.9
17.8
14.7
3.2
89.3
61.7
49.1
12.6
16.2
12.8
3.4
84.1
64.9
52.1
12.9
17.8
12.5
5.3
72.4
55.3
43.3
12.0
17.1
9.9
7.2
Net exports
Exports of goods and nonfactor services
Imports of goods and nonfactor services
9.7
51.1
41.4
5.1
46.6
41.5
10.7
45.2
34.4
15.9
53.5
37.6
27.6
65.8
38.2
100.0
-5.6
0.3
94.7
100.0
-4.9
0.6
95.6
100.0
-5.8
0.5
94.7
100.0
-3.3
0.4
97.1
100.0
-3.4
0.3
96.9
5.4
7.2
12.6
2.7
17.2
19.9
GDP at market prices
Net factor payments
Net transfers
GNP at market prices
(Contribution to growth)
Domestic expenditure
Net exports
GDP at constant prices
Sources: Central Statistical Office; and Fund staff estimates.
18.1
-2.7
15.3
6.8
-4.4
2.4
16.5
8.2
24.8
7
Table 5. Trinidad and Tobago: Savings and Investment at Current Market Prices
2001
2002
2003
2004
2005
(In millions of Trinidad and Tobago dollars)
GDP at market prices
Gross domestic savings
Private sector
Public sector
59,239
16,419
14,522
1,897
60,665
13,942
13,181
762
75,681
20,340
16,732
3,608
85,209
28,726
22,901
5,825
102,128
45,632
35,982
9,650
3,343
-207
2,980
-338
4,378
-364
2,771
-337
3,493
-331
Gross national savings
Private sector
Public sector
Government
Public enterprises
13,282
11,386
1,897
965
931
11,301
10,540
762
1,033
-271
16,325
12,718
3,608
2,512
1,096
26,292
20,466
5,825
4,443
1,382
42,470
32,820
9,650
8,392
1,258
Gross domestic investment
Private sector
Public sector
Government
Public enterprises
10,696
7,471
3,225
773
2,570
10,826
8,889
1,937
810
1,375
12,226
9,666
2,560
1,149
1,829
15,188
10,682
4,505
1,901
3,308
17,479
10,078
7,401
3,126
5,576
Investment-savings gap
Private sector
Public sector
Government
Public enterprises
-2,586
-3,914
1,328
-192
1,639
-476
-1,651
1,175
-222
1,646
-4,099
-3,052
-1,048
-1,363
733
-11,104
-9,784
-1,320
-2,542
1,926
-24,992
-22,742
-2,250
-5,267
4,318
Net factor payments
Net transfers
(In percent of GDP)
Gross domestic savings
Private sector
Public sector
27.7
24.5
3.2
23.0
21.7
1.3
26.9
22.1
4.8
33.7
26.9
6.8
44.7
35.2
9.4
Net factor payments
Net transfers
5.6
-0.3
4.9
-0.6
5.8
-0.5
3.3
-0.4
3.4
-0.3
Gross national savings
Private sector
Public sector
Government
Public enterprises
22.4
19.2
3.2
1.6
1.6
18.6
17.4
1.3
1.7
-0.4
21.6
16.8
4.8
3.3
1.4
30.9
24.0
6.8
5.2
1.6
41.6
32.1
9.4
8.2
1.2
Gross domestic investment
Private sector
Public sector
Government
Public enterprises
18.1
12.6
5.4
1.3
4.3
17.8
14.7
3.2
1.3
2.3
16.2
12.8
3.4
1.5
2.4
17.8
12.5
5.3
2.2
3.9
17.1
9.9
7.2
3.1
5.5
Investment-savings gap
Private sector
Public sector
Government
Public enterprises
-4.4
-6.6
2.2
-0.3
2.8
-0.8
-2.7
1.9
-0.4
2.7
-5.4
-4.0
-1.4
-1.8
1.0
-13.0
-11.5
-1.5
-3.0
2.3
-24.5
-22.3
-2.2
-5.2
4.2
Sources: Central Statistical Office; and Fund staff estimates.
8
Table 6. Trinidad and Tobago: Retail Price Index
Weights
(Jan. 2003=100)
2001
2002
2003
2004
2005
101.9
107.1
100.4
101.9
107.1
100.4
105.7
119.9
102.7
105.7
119.9
102.7
112.9
145.0
105.0
91.8
108.3
104.5
103.1
111.2
100.7
95.2
103.7
100.8
108.9
132.1
104.3
91.0
107.7
100.5
116.7
159.5
105.6
91.3
109.0
106.5
3.8
12.3
0.2
3.8
12.3
0.2
3.7
12.0
2.2
3.7
12.0
2.2
6.9
20.9
2.2
-13.1
-9.8
1.8
3.0
10.7
0.3
-4.4
4.2
0.6
5.6
18.8
3.6
-4.4
3.9
-0.3
7.2
20.8
1.2
0.3
1.2
6.0
A. Period average
Overall index
Food, drink, and tobacco
Housing and household supplies
Clothing and footwear
Transportation
Other services
1000
205
316
53
167
259
94.2
86.5
100.2
94.2
86.5
100.2
98.1
95.3
100.3
98.1
95.3
100.3
B. End of period
Overall index
Food, drink, and tobacco
Housing and household supplies
Clothing and footwear
Transportation
Other services
96.0
91.2
100.3
101.5
98.6
91.8
100.1
100.4
100.4
99.5
99.5
100.1
(Annual percentage changes)
A. Period average
Overall index
Food, drink, and tobacco
Housing and household supplies
Clothing and footwear
Transportation
Other services
5.5
13.9
0.0
5.5
13.9
0.0
4.2
10.2
0.1
4.2
10.2
0.1
B. End of period
Overall index
Food, drink, and tobacco
Housing and household supplies
Clothing and footwear
Transportation
Other services
Sources: Central Statistical Office; and Fund staff calculations.
3.6
8.7
0.2
-1.6
-0.2
8.5
4.3
10.1
0.1
-1.9
0.9
9.0
9
Table 7. Trinidad and Tobago: Index of Producer Prices by Industry
Weights
2001
2002
2003
2004
2005
382.3
453.8
544.1
424.9
314.8
303.9
391.0
459.3
573.8
435.2
321.4
306.9
3.0
2.4
5.5
0.6
4.8
1.7
2.3
1.2
5.5
2.4
2.1
1.0
(Period averages: October 1978=100)
Producer prices
Food processing
Drink and tobacco
Chemical and nonmetallic products
Assembly type industry
Other
1,000
191
121
148
257
283
363.9
420.6
479.5
415.7
295.8
303.3
366.1
425.2
505.8
417.1
295.5
303.7
371.3
443.0
515.8
422.2
300.5
298.9
(Annual percentage changes)
Producer prices
Food processing
Drink and tobacco
Chemical and nonmetallic products
Assembly type industry
Other
Source: Central Statistical Office.
0.9
0.3
-0.1
0.0
0.6
0.3
0.6
1.1
5.5
0.3
-0.1
0.1
1.4
4.2
2.0
1.2
1.7
-1.6
10
Table 8. Trinidad and Tobago: Labor Force and Employment
2001
2002
2003
2004
2005
(In thousands)
Population
Of which
15 years and over
1,267
1,276
1,282
1,291
1,295
949.9
961.8
968.3
973.6
979.0
Labor force
Male
Female
576.5
356.7
219.8
586.2
356.9
229.3
596.5
360.4
236.1
613.5
365.4
248.1
623.7
364.9
258.8
Employed
Male
Female
514.1
326.0
188.1
525.1
329.0
196.1
535.1
330.6
203.5
562.3
342.0
220.3
574.0
343.6
230.4
(As a percentage of the labor force)
Unemployed
Seeking work
Other unemployed
Source: Central Statistical Office.
10.8
7.5
3.3
10.4
7.3
3.1
10.3
7.2
3.1
8.3
5.9
2.4
8.0
5.6
2.4
11
Table 9. Trinidad and Tobago: Growth of Production, Earnings, Employment,
Hours and Costs in Manufacturing 1/
2001
2002
2003
2004
2005
(Annual percentage changes)
All industry
Production
Weekly earnings
Productivity per man/hour
Employment
Hours worked
Earnings per man/hour
Unit labor cost
11.5
9.3
12.0
3.0
-0.6
10.0
-2.6
15.0
11.6
11.9
-1.2
2.7
8.7
-2.7
9.5
13.2
12.1
0.0
-2.2
15.9
3.3
6.1
14.5
3.7
1.9
2.2
12.3
8.1
9.8
1.4
7.6
3.4
2.0
-0.1
...
Manufacturing (Excluding oil and sugar)
Production
Weekly earnings
Productivity per man/hour
Employment
Hours worked
Earnings per man/hour
Unit labor cost
20.7
9.3
25.3
-3.1
-3.8
13.7
-9.7
11.8
7.1
9.0
5.0
2.4
4.5
-4.0
10.9
9.8
16.4
-3.5
-4.5
15.0
-0.7
12.5
11.2
9.8
3.4
2.3
9.1
-0.5
11.1
3.9
7.3
-0.2
3.6
0.3
...
Oil refining
Production
Weekly earnings
Productivity per man/hour
Employment
Hours worked
Earnings per man/hour
Unit labor cost
4.5
11.4
-6.2
10.2
10.8
0.9
6.6
5.1
12.7
4.6
-10.1
-0.4
13.4
7.2
12.8
13.4
6.4
-1.7
6.1
6.8
0.2
2.5
21.5
4.7
3.1
-1.9
24.1
19.5
28.6
-0.3
26.9
3.7
1.4
-1.7
...
Sources: Central Statistical Office; and Fund staff estimates.
1/ All employees.
12
Table 10. Trinidad and Tobago: Central Government Operations 1/
2000/01
2001/02
2002/03
2003/04
2004/05
(In millions of Trinidad and Tobago dollars)
Total revenue and grants
Energy sector
Nonenergy sector
Capital revenue and grants
14,200
4,951
9,211
38
13,860
3,273
10,553
35
17,350
6,720
10,626
4
20,629
8,484
12,141
4
29,649
15,614
14,026
9
Total expenditure
Current
Wages and salaries
Other goods and services
Interest payments
Transfer and subsidies
Capital expenditure and net lending
13,860
13,078
4,284
1,768
2,330
4,697
782
13,961
13,214
4,225
1,742
2,260
4,988
747
16,048
15,050
4,548
2,038
2,592
5,872
998
19,068
17,466
4,849
2,375
2,364
7,878
1,601
24,141
21,342
5,309
3,172
2,542
10,320
2,799
Current balance
1,083
611
2,296
3,158
8,298
Overall balance
339
-101
1,302
1,561
5,508
-339
-2
-338
-546
101
-194
295
-600
-1,302
12
-1,313
-497
-1,561
-357
-1,204
-1,263
-5,508
-1,121
-4,235
-2,593
Total financing
Foreign financing
Domestic financing
Of which: Revenue Stabilization Fund
(In percent of GDP)
Total revenue
Energy sector
Nonenergy sector
Capital revenue and grants
24.8
8.6
16.1
0.1
23.0
5.4
17.5
0.1
24.1
9.3
14.8
0.0
24.9
10.2
14.7
0.0
30.3
15.9
14.3
0.0
Total expenditure
Current
Wages and salaries
Other goods and services
Interest payments
Transfer and subsidies
Capital expenditure and net lending
Net lending
Current balance
24.2
22.8
7.5
3.1
4.1
8.2
1.4
23.1
21.9
7.0
2.9
3.7
8.3
1.2
22.3
20.9
6.3
2.8
3.6
8.2
1.4
23.0
21.1
5.9
2.9
2.9
9.5
1.9
24.7
21.8
5.4
3.2
2.6
10.5
2.9
1.9
1.0
3.2
3.8
8.5
0.6
-0.2
1.8
1.9
5.6
-0.6
0.0
-0.6
-1.0
0.2
-0.3
0.5
-1.0
-1.8
0.0
-1.8
-0.7
-1.9
-0.4
-1.5
-1.5
-5.6
-1.1
-4.3
-2.6
Overall balance
Total financing
External financing
Domestic financing
Of which: Revenue Stabilization Fund
Sources: Ministry of Finance; and Fund staff estimates.
1/ Fiscal year basis.
1321.0
1314.0
1362.0
1205.0
13
Table 11. Trinidad and Tobago: Central Government Revenue and Grants
(In millions of Trinidad and Tobago dollars)
2000/01
2001/02
2002/03
2003/04
2004/05
14,200
13,860
17,350
20,629
29,649
Energy sector
Corporation tax
Business levy
Royalties
Unemployment levy
Signature bonuses
Impost
Withholding tax (oil)
Green Fund levy
4,951
3,769
90
752
191
0
23
126
0
3,273
2,182
59
613
124
128
30
88
50
6,720
5,028
74
1,008
294
31
34
158
94
8,484
6,515
109
1,095
410
0
37
178
139
15,614
12,636
146
1,231
905
0
43
467
186
Nonenergy sector
Taxes
Income tax
Goods and services
VAT
Excise duties on petrol
Other 1/
International trade
Import duties
Other
Property
Other 2/
9,211
8,020
3,547
3,425
2,194
494
737
857
811
46
59
132
10,553
9,028
4,101
3,817
2,475
525
817
879
854
25
94
137
10,626
9,538
4,671
3,546
2,121
563
862
1,070
1,019
51
78
175
12,141
10,914
4,876
4,438
3,021
587
830
1,288
1,233
55
85
226
14,026
12,252
5,857
4,537
2,963
635
940
1,527
1,463
64
63
268
Nontaxes
Fees, rentals, etc.
Public enterprise profit
Central bank profit
Interest receipts
1,192
695
157
81
259
1,525
639
550
135
201
1,088
426
391
144
127
1,227
431
614
96
86
1,773
549
936
159
130
38
35
4
4
9
12,970
12,300
16,258
19,398
27,867
Total revenue and grants
Capital revenue and grants
Memorandum item:
Total tax revenue
Source: Ministry of Finance.
1/ Includes all other taxes on goods and services except for the port and airport departure taxes.
2/ Stamp duties and social security contributions.
14
Table 12. Trinidad and Tobago: Ratios of Central Government Revenue and Grants
2000/01
2001/02
2002/03
2003/04
2004/05
(In percent of GDP)
Total revenue and grants
24.8
23.0
24.1
24.9
30.3
Energy sector
Of which: corporation tax
Of which: royalties
8.6
5.4
9.3
10.2
15.9
6.6
1.3
3.6
1.0
7.0
1.4
7.9
1.3
12.9
1.3
Nonenergy
Taxes
Income
Goods and services
VAT
Excise duties on petrol
Other
International trade
Import duties
Other
Property
Other
Nontaxes
16.1
14.0
6.2
6.0
3.8
0.9
1.3
1.5
1.4
0.1
0.1
0.2
2.1
17.5
15.0
6.8
6.3
4.1
0.9
1.4
1.5
1.4
0.0
0.2
0.2
2.5
14.8
13.3
6.5
4.9
2.9
0.8
1.2
1.5
1.4
0.1
0.1
0.2
1.5
14.7
13.2
5.9
5.4
3.6
0.7
1.0
1.6
1.5
0.1
0.1
0.3
1.5
14.3
12.5
6.0
4.6
3.0
0.6
1.0
1.6
1.5
0.1
0.1
0.3
1.8
Capital revenue and grants
0.1
0.1
0.0
0.0
0.0
(In percent of total revenue and grants)
Total revenue and grants
100.0
100.0
100.0
100.0
100.0
Energy sector
Of which : corporation tax
Of which : royalties
34.9
26.5
5.3
23.6
15.7
4.4
38.7
29.0
5.8
41.1
31.6
5.3
52.7
42.6
4.2
Nonenergy
Taxes
Income
Goods and services
VAT
Excise duties on petrol
Other 1/
International trade
Import duties
Other
Property
Other 2/
Nontaxes
64.9
56.5
25.0
24.1
15.4
3.5
5.2
6.0
5.7
0.3
0.4
0.9
8.4
76.1
65.1
29.6
27.5
17.9
3.8
5.9
6.3
6.2
0.2
0.7
1.0
11.0
61.2
55.0
26.9
20.4
12.2
3.2
5.0
6.2
5.9
0.3
0.4
1.0
6.3
58.9
52.9
23.6
21.5
14.6
2.8
4.0
6.2
6.0
0.3
0.4
1.1
5.9
47.3
41.3
19.8
15.3
10.0
2.1
3.2
5.1
4.9
0.2
0.2
0.9
6.0
Capital revenue and grants
0.3
0.3
0.0
0.0
0.0
91.6
89.0
93.7
94.1
94.0
Memorandum item:
Tax revenue
Source: Ministry of Finance.
1/ Includes all other taxes on goods and services except for the port and airport departure taxes.
2/ Stamp duties and social security contributions.
15
Table 13. Trinidad and Tobago: Central Government Expenditure
(In millions of Trinidad and Tobago dollars)
2000/01
2001/02
2002/03
2003/04
2004/05
Total expenditure
13,860
13,961
16,048
19,068
24,141
Current
Wages and salaries 1/
Other goods and services
Interest payments
Domestic 2/
External
Transfers and subsidies
Public sector 3/
Local government and Tobago
Utilities, state enterprises
Households
Other 4/
13,078
4,284
1,768
2,330
1,440
890
4,697
1,538
966
571
1,666
1,493
13,214
4,225
1,742
2,260
1,459
800
4,988
1,616
1,043
573
1,906
1,465
15,050
4,548
2,038
2,592
1,834
758
5,872
1,914
1,150
764
2,023
1,935
17,466
4,849
2,375
2,364
1,638
726
7,878
3,035
1,471
1,564
2,131
2,722
21,342
5,309
3,172
2,542
1,876
666
10,320
3,566
1,520
2,046
2,582
4,172
782
1,027
0
-245
747
983
1
-236
998
1,227
2
-229
1,601
1,841
3
-240
2,799
3,076
4
-278
11,531
11,702
13,456
16,703
21,599
Capital expenditure and net lending
Capital expenditure
Capital transfers
Net lending
Memorandum item:
Noninterest spending
Source: Ministry of Finance.
1/ Includes contributions to the National Insurance Board and severance payments to central government employees.
2/ Includes interest on domestic loans denominated in U.S. dollars and debt service on DFCs.
3/ Statutory bodies, state enterprises (including public utilities), and local governments.
4/ Comprises subsidies, nonprofit institutions, statutory authorities, transfers abroad, and other transfers (excluding Revenue Stabilization
Fund).
16
Table 14. Trinidad and Tobago: Central Government Expenditure Ratios
2000/01
2001/02
2002/03
2003/04
2004/05
(In percent of GDP)
Total expenditure
24.2
23.1
22.3
23.0
24.7
Current
Wages and salaries 1/
Other goods and services
Interest payments
Domestic 2/
External
Transfers and subsidies
Public sector 3/
Local government and Tobago
Utilities, state enterprises
Households
Other 4/
22.8
7.5
3.1
4.1
2.5
1.6
8.2
2.7
1.7
1.0
2.9
2.6
21.9
7.0
2.9
3.7
2.4
1.3
8.3
2.7
1.7
1.0
3.2
2.4
20.9
6.3
2.8
3.6
2.6
1.1
8.2
2.7
1.6
1.1
2.8
2.7
21.1
5.9
2.9
2.9
2.0
0.9
9.5
3.7
1.8
1.9
2.6
3.3
21.8
5.4
3.2
2.6
1.9
0.7
10.5
3.6
1.6
2.1
2.6
4.3
1.4
1.2
1.4
1.9
2.9
20.1
19.4
18.7
20.2
22.1
Capital expenditure and net lending
Memorandum item:
Noninterest spending
(In percent of total expenditure)
Total spending
Current
Wages and salaries 1/
Other goods and services
Interest payments 2/
Domestic
External
Transfers and subsidies
Public sector 3/
Households
Other 4/
Capital expenditure and net lending
Memorandum item:
Noninterest spending
100.0
100.0
100.0
100.0
100.0
94.4
30.9
12.8
16.8
10.4
6.4
33.9
11.1
12.0
10.8
94.6
30.3
12.5
16.2
10.5
5.7
35.7
11.6
13.7
10.5
93.8
28.3
12.7
16.2
11.4
4.7
36.6
11.9
12.6
12.1
91.6
25.4
12.5
12.4
8.6
3.8
41.3
15.9
11.2
14.3
88.4
22.0
13.1
10.5
7.8
2.8
42.7
14.8
10.7
17.3
5.6
5.4
6.2
8.4
11.6
83.2
83.2
83.2
83.2
83.2
Source: Ministry of Finance.
1/
2/
3/
4/
Includes contributions to the National Insurance Board and severance payments to central government employees.
Includes interest on domestic loans denominated in U.S. dollars and debt service on DFCs.
Statutory bodies, state enterprises (including public utilities), and local governments.
Comprises subsidies, nonprofit institutions, statutory authorities, transfers abroad, and other transfers (excluding Revenue Stabilizatio
17
Table 15a. Trinidad and Tobago: Public Enterprises
2000/01
2001/02
2002/03
2003/04
2004/05
(In millions of Trinidad and Tobago dollars)
Total revenues
Operating revenues
Capital revenue and grants
Energy related SOEs
Nonenergy SOEs
21,654
21,330
324
18,209
3,445
17,251
17,041
210
13,714
3,537
23,288
22,994
294
19,513
3,775
25,462
24,442
1,020
22,249
3,212
35,199
34,327
872
31,523
3,676
Current expenditures
Wages and salaries
Of which : severance payments
Other goods and services
Interest payments
Domestic
External
Other
Taxes and dividends
20,325
2,218
63
14,749
1,150
328
822
383
1,826
17,670
2,323
74
13,546
517
276
241
272
1,012
22,033
3,000
747
16,172
628
439
189
271
1,963
22,784
2,501
9
16,939
604
387
216
404
2,337
33,238
2,887
13
24,580
507
345
161
262
5,002
Operating balance
Energy related SOEs
Nonenergy SOEs
1,004
1,165
-161
-629
-390
-239
960
2,052
-1,091
1,657
2,182
-525
1,089
1,062
27
Government transfers
Current
Capital
553
296
257
337
233
103
589
388
201
1,003
636
367
1,257
705
552
2,511
1,709
575
228
1,288
429
637
221
1,475
858
468
149
2,872
1,923
764
184
4,418
2,472
1,635
312
Overall balance
Energy related SOEs
Nonenergy public enterprises
-630
-332
-298
-1,370
-827
-543
368
1,339
-971
808
1,138
-330
-1,200
-828
-372
Statistical discrepancy
-167
150
-307
-424
-544
Identified financing
Net external financing
Disbursements
Amortization
Net domestic financing
Disbursements
Amortization
463
441
6,356
-5,915
22
5,686
-5,664
1,520
845
3,351
-2,506
675
3,798
-3,123
-675
-257
2,063
-2,320
-418
3,379
-3,797
-1,232
-2,503
3,997
-6,500
1,271
4,209
-2,938
656
390
6,590
-6,201
266
5,009
-4,743
Total revenues
Energy related SOEs
Nonenergy SOEs
37.8
31.8
6.0
28.6
22.7
5.9
32.4
27.1
5.2
30.7
26.9
3.9
36.0
32.2
3.8
Current expenditures
Wages and salaries
Other goods and services
Interest payments
Other
Taxes and dividends
35.5
3.9
25.8
2.0
0.6
1.4
29.3
3.9
22.5
0.9
0.5
0.4
30.6
4.2
22.5
0.9
0.6
0.3
27.5
3.0
20.5
0.7
0.5
0.3
34.0
2.9
25.1
0.5
0.4
0.2
Operating balance
Energy related SOEs
Nonenergy SOEs
1.8
2.0
-0.3
-1.0
-0.6
-0.4
1.3
2.9
-1.5
2.0
2.6
-0.6
1.1
1.1
0.0
Capital expenditures and net lending
Energy related SOEs
Nonenergy SOEs
Net lending
(In percent of GDP)
Government transfers
1.0
0.6
0.8
1.2
1.3
Capital expenditures
Energy related SOEs
Nonenergy SOEs
Net lending
4.4
3.0
1.0
0.4
2.1
0.7
1.1
0.4
2.1
1.2
0.7
0.2
3.5
2.3
0.9
0.2
4.5
2.5
1.7
0.3
-1.1
-0.6
-0.5
-2.3
-1.4
-0.9
0.5
1.9
-1.3
1.0
1.4
-0.4
-1.2
-0.8
-0.4
57,272
60,308
71,927
82,827
97,898
Overall balance
Energy related SOEs
Nonenergy public enterprises
Memorandum item:
Nominal GDP (in TT$ million, Fiscal year)
Sources: Ministry of Finance; and Fund staff estimates and projection .
1/ Comprises the major enterprises namely CARONI, MTS, NFM, NFM, NHSL, NPMC, NQCL, NGC, PETROTRIN, PLIPDECO, SWMCOL,
TIDCO, TANTEAK,TRINGEN, TTST, and UDECOTT. Data for National Housing Authority was not available.
18
Table 15b. Trinidad and Tobago: Statutory Bodies 1/
2000/01
2001/02
2002/03
2003/04
2004/05
(In millions of Trinidad and Tobago dollars)
Total revenues
Operating revenues
Capital revenue and grants
2,173
2,085
88
2,005
2,005
0
2,339
2,333
6
2,393
2,392
1
2,506
2,506
0
Current expenditures
Wages and salaries
Other goods and services
Interest payments
Other
Taxes and dividends
2,336
677
1,403
307
21
-73
2,510
716
1,409
366
76
-58
2,995
806
2,045
412
22
-289
3,427
1,024
2,197
437
18
-249
3,659
1,157
2,276
614
20
-408
-252
0
286
207
78
-505
0
324
219
105
-662
0
441
275
167
-1,035
0
448
244
204
-1,153
725
696
28
275
275
0
191
149
42
203
203
0
633
452
181
Overall balance
-602
-456
-406
-790
-854
Statistical discrepancy
-379
-75
-83
-161
-244
Identified financing
Net external financing
Disbursements
Amortization
Net domestic financing
Disbursements
Amortization
224
18
57
-39
205
335
-130
380
-49
0
-49
430
875
-446
323
-55
0
-55
378
658
-280
629
-64
0
-64
693
1,085
-392
609
-164
0
-164
773
1,653
-880
Operating balance
Government transfers
Current
Capital
Capital expenditures and net lending
Capital expenditures
Net lending
932
382
550
(In percent of GDP)
Total revenues
3.8
3.3
3.3
2.9
2.6
Current expenditures
Wages and salaries
Other goods and services
Interest payments
Other
Taxes and dividends
4.1
1.2
2.5
0.5
0.0
-0.1
4.2
1.2
2.3
0.6
0.1
-0.1
4.2
1.1
2.8
0.6
0.0
-0.4
4.1
1.2
2.7
0.5
0.0
-0.3
3.7
1.2
2.3
0.6
0.0
-0.4
Operating balance
-0.4
-0.8
-0.9
-1.3
-1.2
Government transfers
0.5
0.5
0.6
0.5
1.0
Capital expenditures
Capital
Net lending
1.3
1.2
0.0
0.5
0.5
0.0
0.3
0.2
0.1
0.2
0.2
0.0
0.6
0.5
0.2
-1.1
-0.8
-0.6
-1.0
-0.9
Overall balance
Memorandum item:
Nominal GDP (in TT$ million, FY)
57,272
60,308
71,927
82,827
97,898
Sources: Ministry of Finance; and Fund staff estimates and projections
1/ Coverage includes Public Transport Company, Electricity Company, Water Authority, Airport Authority and Port Authority.
19
Table 16. Trinidad and Tobago: Consolidated Nonfinancial Public Sector
(In percent of GDP)
2000/01
2001/02
2002/03
2003/04
2004/05
I. Nonfinancial Public Sector
Current balance
Capital revenue and transfers
Capital expenditure and net lending
3.2
2.3
7.0
-0.9
1.5
3.8
3.6
1.9
3.7
4.6
3.0
5.6
8.4
3.1
8.0
Overall balance
-1.6
-3.2
1.8
1.9
3.5
Public sector debt 1/ 2/
53.4
54.8
49.9
42.8
36.1
II. Central Government
Current balance
Current revenue
Current expenditure
Capital revenue and grants
Capital expenditure and net lending
Overall balance
Central government debt 3/
1.9
24.7
22.8
0.1
1.4
1.0
22.9
21.9
0.1
1.2
3.2
24.1
20.9
0.0
1.4
3.8
24.9
21.1
0.0
1.9
8.5
30.3
21.8
0.0
2.9
0.6
-0.2
1.8
1.9
5.6
37.1
35.1
30.3
24.8
20.2
III. Statutory Bodies 4/
Current balance
Current revenue
Current expenditure
Capital revenue and transfers
Capital expenditure and net lending
-0.4
3.6
4.1
0.7
1.3
-0.8
3.3
4.2
0.5
0.5
-0.9
3.2
4.2
0.6
0.3
-1.3
2.9
4.1
0.5
0.2
-1.2
2.6
3.7
1.0
0.6
Overall balance
-1.1
-0.8
-0.6
-1.0
-0.9
8.8
8.5
7.7
8.0
7.8
Debt 3/
IV. Public Enterprises 5/
Current balance
Current revenue
Current expenditure
Capital revenue and transfers
Capital expenditure and net lending
1.8
37.2
35.5
1.5
4.4
-1.0
28.3
29.3
0.9
2.1
1.3
32.0
30.6
1.2
2.1
2.0
29.5
27.5
2.4
3.5
1.1
35.1
34.0
2.2
4.5
Overall balance
-1.1
-2.3
0.5
1.0
-1.2
7.5
11.2
11.9
10.0
8.1
57,272
60,308
71,927
82,827
97,898
Debt 3/
Memorandum item:
Nominal GDP (in TT$ million, FY)
Sources: Ministry of Finance; and Fund staff estimates and projections.
1/ Refers to gross debt. The baseline projections assume a significant increase in government deposits at the CBTT,
in the context of the Interim Revenue Stabilization Fund, and accordingly lower net debt.
2/ Includes BOLT and leases.
3/ Refers to gross debt, and it includes government guaranteed debt and letters of comfort.
4/ Includes Public Transport Company, Electricity Company, Water Authority, Airport Authority and Port Authority.
5/ Includes CARONI, MTS, NFM, NFM, NHSL, NPMC, NQCL, NGC, PETROTRIN, PLIPDECO, SWMCOL, TIDCO,
TANTEAK, TRINGEN, TTST, and UDECOTT. Data for National Housing Authority was not available.
20
Table 17. Trinidad and Tobago: Summary Accounts of the Consolidated Financial System 1/
2001
2002
2003
2004
2005
Net foreign assets
12,875
13,607
15,435
25,087
35,918
Net international reserves
Other foreign assets (net)
11,832
1,043
12,317
1,290
13,584
1,851
21,459
3,628
32,174
3,744
Net domestic assets
Credit to public sector
Central government
Rest of the public sector
Credit to private sector
Other items (net)
11,888
-2,137
-2,709
572
23,090
-9,065
10,566
-1,527
-3,088
1,561
23,294
-11,201
10,566
-3,039
-4,263
1,224
25,011
-11,405
5,858
-8,252
-9,509
1,257
29,449
-15,339
2,977
-14,709
-16,144
1,435
33,962
-16,275
Liabilities to the private sector
Private capital and reserves
Currency outside banks
Deposit liabilities
Of which
Foreign currency
Fund-raising instruments 2/
Other liabilities
36,381
6,869
1,373
22,437
37,653
8,097
1,502
22,173
41,221
9,269
1,709
22,754
49,439
11,340
1,957
27,513
54,572
11,672
2,425
31,311
5,385
4,920
781
6,219
1,493
4,389
6,151
1,272
6,217
7,180
2,045
6,584
9,452
2,129
7,036
(Annual percentage change in relation to previous year's liabilities to the private sector)
Net international reserves
Net domestic assets
Of which
Credit to the public sector
Credit to the private sector
Liabilities to the private sector
5.0
0.6
1.3
-3.6
3.4
0.0
19.1
-11.4
21.7
-5.8
-5.3
6.0
1.7
0.6
-4.0
4.6
-12.6
10.8
-13.1
9.1
3.5
9.5
19.9
10.4
-44.6
17.7
19.9
22.3
20.9
-49.2
15.3
10.4
2.9
13.8
9.8
(Annual percentage changes)
Net domestic assets
Credit to the private sector
Liabilities of the private sector
Private capital and reserves
Deposits
1.8
9.4
9.8
13.7
13.4
-11.1
0.9
3.5
17.9
-1.2
0.0
7.4
9.5
14.5
2.6
Source: Central Bank of Trinidad and Tobago.
1/ This consolidates the central bank, commercial banks, trust and mortgage companies, and finance houses and merchant banks.
2/ These are guaranteed investments backed by government securities or mortagages, e.g., investment note certificates, secured commercial
paper, floating rate tax-free debentures and mortgage pass-through securities.
21
Table 18. Trinidad and Tobago: Monetary Survey
(In millions of Trinidad and Tobago dollars)
2001
2002
2003
2004
2005
Net foreign assets
12,341
12,856
14,065
21,901
32,808
Net international reserves
Monetary authorities
Commercial banks
11,832
11,631
201
12,317
11,978
339
13,584
13,834
-250
21,459
18,487
2,972
32,174
29,813
2,361
509
509
0
539
539
0
481
481
0
442
442
0
634
634
0
3,488
13,840
-3,261
-3,427
2,796
2,796
4
1,241
1,551
0
6,223
6,223
2,895
15,037
-2,825
-3,797
2,782
2,782
3
1,406
1,373
0
6,579
6,579
1,536
14,458
-4,925
-5,041
3,330
3,330
9
1,117
2,203
0
8,371
8,371
-3,463
13,188
-10,243
-10,115
3,416
3,416
0
1,828
1,588
0
13,531
13,531
-6,459
11,475
-16,295
-16,939
4,037
4,037
7
1,883
2,147
0
20,976
20,976
1,015
166
1,794
1,794
1,086
708
0
1,628
1,628
0
17,101
3,056
14,045
7,783
6,262
1,015
972
2,263
2,263
1,225
1,038
0
1,291
1,291
0
17,862
3,171
14,691
8,248
6,442
1,567
116
1,599
1,599
1,246
353
0
1,483
1,483
0
19,383
4,149
15,234
8,799
6,435
2,846
-129
1,701
1,701
1,575
126
0
1,830
1,830
0
23,431
4,284
19,147
10,926
8,221
5,485
644
3,259
3,259
2,883
376
0
2,615
2,615
0
27,770
3,108
24,662
13,026
11,636
-10,351
-12,142
-12,923
-16,651
-17,934
Liabilities to the private sector
Private capital and reserves
25,327
4,749
26,518
5,383
27,501
5,951
32,746
7,154
41,030
7,341
Broad money
Money and quasi-money
Currency outside banks
Deposits
Of which
Foreign currency
Fund-raising instruments
20,578
19,239
1,373
17,865
21,135
19,802
1,502
18,300
21,551
20,415
1,709
18,706
25,592
23,792
1,957
21,834
33,689
28,943
2,425
26,518
5,385
1,340
6,219
1,333
6,151
1,136
7,180
1,800
9,452
1,674
Other foreign assets/liabilities
Monetary authorities
Commercial banks
Net domestic assets
Domestic credit
Net credit to public sector
Net credit to government
Credit to government
Loans
Advances
T-bill holdings
Other securities
Other
Liabilities
Deposits of government
Of which
Oil revenue stabilization fund
Net credit to other public sector (nonfinancial
Credit to other public sector (nonfinancial)
Loans
Advances
Securities
Other
Liabilities
Deposits of other public sector
Other
Credit to the economy
Nonbank financial institutions
Credit to the private sector
Enterprises
Households
Other items (net)
Source: Central Bank of Trinidad and Tobago.
22
Table 19. Trinidad and Tobago: Summary Accounts of the Central Bank
(In millions of Trinidad and Tobago dollars)
2001
2002
2003
2004
2005
Net foreign assets
Net international reserves
Assets
Liabilities
Other foreign assets/liabilities
12,140
11,631
11,741
110
509
12,517
11,978
12,079
102
539
14,315
13,834
13,935
102
481
18,929
18,487
18,589
102
442
30,447
29,813
29,915
102
634
Net domestic assets
Domestic credit
Net credit to public sector
Net credit to government
Claims on central government
Loans
Less: sterilization (blocked account)
Deposits of central government
Of which
Oil revenue stabilization fund
Net credit to rest of public sector
Claims on the rest of public sector
Deposits of rest of public sector
Net claims on financial institutions
Other items (net)
-6,326
-5,495
-5,874
-6,113
-2,333
0
-2,334
3,780
-6,932
-5,956
-6,336
-6,502
-2,667
11
-2,677
3,836
-8,433
-7,620
-8,000
-8,156
-3,100
0
-3,100
5,056
-13,144
-12,338
-12,718
-12,871
-6,104
0
-6,105
6,767
-22,412
-20,058
-20,437
-20,586
-7,407
0
-7,407
13,180
1,015
239
309
70
380
-832
1,015
167
299
133
380
-976
1,567
156
280
124
380
-813
2,846
154
245
92
380
-806
5,485
149
234
85
380
-2,355
5,814
1,843
3,466
505
5,585
2,005
3,072
509
5,882
2,295
2,955
632
5,785
2,554
2,783
449
8,035
2,991
4,673
371
Reserve money
Currency issue
Deposits of commercial banks
Deposits of nonbank financial institutions
Source: Central Bank of Trinidad and Tobago.
23
Table 20. Trinidad and Tobago: Consolidated Accounts of the Commercial Banks
(In millions of Trinidad and Tobago dollars)
Net foreign assets
Net international reserves
Other foreign assets/liabilities
Monetary reserves and currency holdings
Deposits with central bank
Local currency holdings
Net domestic assets
Domestic credit
Net credit to public sector
Net credit to government
Credit to government
Loans
Advances
Treasury bill holdings
Other securities
Liabilities
Deposits of government
Net credit to other public sector (nonfinancial)
Credit to other public sector (nonfinancial)
Loans
Advances
Securities
Liabilities
Deposits of other public sector
Claims on rest of the economy
Nonbank financial institutions
Private sector
Enterprises
Households
Other items (net)
Liabilities to the central bank
Liabilities to the private sector
Private capital and reserves
Deposits
Of which
Foreign currency
Demand deposits
Time deposits
Savings deposits
Fund raising instruments
Source: Central Bank of Trinidad and Tobago.
2001
2002
2003
2004
2005
201
201
0
339
339
0
-250
-250
0
2,972
2,972
0
2,361
2,361
0
3,936
3,466
470
3,535
3,032
503
3,541
2,955
586
3,353
2,756
597
4,758
4,192
566
10,701
19,209
2,612
2,686
2,796
1,245
4
1,241
1,551
109
109
-74
1,484
1,484
777
708
1,558
1,558
16,596
2,551
14,045
7,783
6,262
-8,507
10,756
20,864
3,510
2,706
2,772
1,398
3
1,395
1,373
66
66
805
1,964
1,964
925
1,038
1,159
1,159
17,353
2,663
14,691
8,248
6,442
-10,108
10,983
21,826
3,075
3,115
3,329
1,126
9
1,117
2,203
215
215
-40
1,319
1,319
966
353
1,359
1,359
18,752
3,518
15,234
8,799
6,435
-10,844
10,537
25,456
2,474
2,757
3,416
1,828
0
1,828
1,588
659
659
-283
1,456
1,456
1,330
126
1,738
1,738
22,983
3,836
19,147
10,926
8,221
-14,920
14,113
31,485
4,142
3,647
4,037
1,890
7
1,883
2,146
390
390
495
3,025
3,025
2,649
376
2,530
2,530
27,343
2,681
24,662
13,026
11,636
-17,373
382
380
382
381
380
22,614
4,749
17,865
23,683
5,383
18,300
24,656
5,951
18,706
28,989
7,154
21,834
33,859
7,341
26,518
5,385
4,238
5,318
8,309
1,340
6,219
5,393
4,222
8,685
1,333
6,151
5,595
3,410
9,701
1,136
7,180
6,866
3,858
11,111
1,800
9,452
9,069
4,722
12,727
1,674
24
Table 21. Trinidad and Tobago: Commercial Bank Loans and Advances
2001
2002
2003
2004
2005p
(In millions of Trinidad and Tobago dollars)
Total loans and advances
14,750
14,731
16,581
21,117
28,734
1,235
33
66
420
102
615
985
23
19
33
357
553
1,029
21
1
33
574
401
1,570
4
6
116
1,002
442
3,168
7
4
369
1,113
1,675
13,515
7,234
13,746
7,287
15,551
9,097
19,546
11,216
25,566
13,769
Of which:
Agriculture
Petroleum
Manufacturing
Construction
Real estate
Services
124
263
1,470
551
97
4,730
80
255
2,073
702
106
4,071
106
449
1,725
1,140
42
5,635
116
403
1,727
1,198
809
6,963
92
499
1,925
1,195
1,232
8,825
Of which
Distribution
Financial services
Financial institutions
Consumers
1,086
1,774
198
6,281
954
1,771
248
6,459
1,226
2,866
1,170
6,455
1,301
3,485
955
8,331
2,068
4,386
1,123
11,796
Public sector
Central government
Local governments
Public financial institutions
Statutory boards
Public enterprises
Private sector
Businesses
(In percent of loans and advances)
Public sector
Private sector
Businesses
8.4
0.0
49.0
6.7
0.0
49.5
6.2
0.0
54.9
7.4
0.0
53.1
11.0
89.0
47.9
Of which:
Agriculture
Petroleum
Manufacturing
Construction
Real estate
Services
0.8
1.8
10.0
3.7
0.7
32.1
0.5
1.7
14.1
4.8
0.7
27.6
0.6
2.7
10.4
6.9
0.3
34.0
0.5
1.9
8.2
5.7
3.8
33.0
0.3
1.7
6.7
4.2
4.3
30.7
Of which
Distribution
Financial services
Financial institutions
Consumers
7.4
12.0
1.3
42.6
6.5
12.0
1.7
43.8
7.4
17.3
7.1
38.9
6.2
16.5
4.5
39.5
7.2
15.3
3.9
41.1
Source: Central Bank of Trinidad and Tobago.
25
Table 22. Trinidad and Tobago: Summary Accounts of the Nonbank Financial Institutions (NBFIs)
(In millions of Trinidad and Tobago dollars)
2001
2002
2003
2004
2005
I. Trust and Mortgage Companies
Monetary reserves and currency
350
351
433
429
425
6,291
6,047
7,448
7,389
7,309
894
555
339
0
0
304
35
916
548
368
0
-1
302
67
1,583
616
967
15
-44
314
682
1,725
462
1,262
22
12
366
863
1,500
625
875
22
14
311
529
6,217
6,146
7,217
6,250
6,056
Credit to other financial instns (net)
Credit to commercial banks (net)
Credit to nonbank financial institutions
Credit to public financial institutions
-83
746
-561
-268
48
943
-780
-115
-60
804
-788
-77
656
1,107
-476
25
1,120
1,340
-232
12
Other items (net)
-736
-1,064
-1,291
-1,241
-1,367
5
4
3
2
1
Liabilities to the private sector
Private capital and reserves
Time deposits
Of which
Foreign currency
Other liabilities 1/
Of which
Fund-raising instruments 1/
7,960
1,324
2,274
8,197
1,802
1,845
10,098
2,220
1,525
9,813
1,996
988
9,875
2,142
243
0
4,362
0
4,549
0
6,353
0
6,829
0
7,491
3,581
160
136
245
455
Net foreign assets
Assets
Liabilities
534
1,243
709
751
2,123
1,372
1,370
3,034
1,663
3,186
3,979
792
3,110
4,884
1,774
162
155
194
197
190
1,631
231
163
68
0
2
113
-47
2,828
-14
187
-201
-1,414
1,141
382
160
222
0
155
27
39
2,457
13
260
-248
-1,711
973
303
161
142
0
147
12
-18
2,561
74
373
-299
-1,964
1,315
266
143
124
0
138
12
-26
4,052
779
944
-165
-3,782
-453
85
170
-85
0
3
12
-99
3,244
0
0
0
-3,782
30
20
14
8
8
3,094
797
2,298
2,939
911
2,027
3,622
1,099
2,523
6,880
2,190
4,690
7,003
2,453
4,550
0
2,298
0
2,027
0
2,523
0
4,690
0
4,550
Net domestic assets
Credit to public sector
Central government
Rest of public sector
Local government
Statutory bodies
Public utilities
Nonfinancial state enterprises
Credit to private sector
Liabilities to the central bank
II. Finance Houses and Merchant Banks
Monetary reserves and currency
Net domestic assets
Credit to public sector
Central government
Rest of the public sector
Local government
Statutory bodies
Public utilities
Nonfinancial state enterprises
Credit to private sector
Credit to other financial institutions (net)
Credit to private financial institutions (net)
Credit to public financial institutions (net)
Other items (net)
Liabilities to the central bank
Liabilities to the private sector
Private capital and reserves
Total deposits
Of which
Foreign currency
Time deposits
Source: Central Bank of Trinidad and Tobago.
1/ From June 2000, some instruments were reclassified as fund raising instruments.
26
Table 23. Trinidad & Tobago: Financial Soundness Indicators ― Banking Sector
2001
2002
2003
2004
2005
(In percent, unless indicated otherwise)
Capital adequacy
Regulatory capital to risk-weighted assets
Regulatory Tier I capital to risk-weighted assets
Regulatory Tier II capital-to-risk-weighted assets
Regulatory capital-to-total assets
19.5
17.6
1.9
11.1
20.6
17.3
3.3
11.7
20.3
18.2
2.2
12.4
19.3
17.4
1.9
13.2
18.2
16.4
1.7
11.6
42.8
41.3
40.4
38.9
41.0
10.2
12.5
5.5
3.8
4.9
2.2
11.4
12.1
4.2
4.6
3.7
3.2
11.3
17.6
4.6
7.4
3.7
2.3
18.3
17.8
2.9
6.4
3.6
4.6
27.2
16.9
2.8
5.9
2.7
5.6
97.8
2.2
--6.7
1.4
30.1
96.8
3.2
--5.8
1.3
31.2
97.7
2.3
84.4
8.3
4.5
17.2
96.3
3.7
82.9
24.2
21.7
25.6
93.8
6.2
n/a
n/a
n/a
23.9
Banking sector asset quality
Nonperforming loans-to-gross loans
Nonperforming loans (net of provisions)-to-capital
Specific provisions-to-impaired assets
Specific provisions-to-gross lending
3.2
0.6
57.7
1.9
3.6
-1.0
70.8
2.6
2.0
-3.0
117.5
2.3
3.9
6.0
40.3
1.6
1.7
0.3
67.7
1.1
Banking sector earnings and profitability
Return on equity
Return on assets
Interest margin-to-gross income
Non-interest expenses-to-gross income
Spread between average lending and deposit rates
17.2
2.0
36.5
39.5
8.8
20.0
2.4
43.0
43.3
9.1
16.9
2.1
47.9
50.7
8.7
27.5
3.7
38.3
41.3
7.4
20.2
2.5
41.0
43.6
7.1
Banking sector liquidity
Liquid assets-to-total assets
Liquid assets-to-total short-term liabilities
Customer deposits-to-total (non-interbank) loans
Foreign currency liabilities-to-total liabilities
17.8
24.8
145.3
32.6
16.1
22.6
147.2
34.3
15.9
22.3
142.3
34.4
14.8
20.5
128.3
37.8
15.8
21.7
119.3
35.8
Banking sector sensitivity to market risk
Net open positions in FX-to-capital
-11.8
-18.2
-36.8
-0.9
-13.9
Banking sector asset composition
Sectoral distribution of loans-to-total loans
Households
of which :
Proportion secured as mortgage loans
Financial sector
Oil and gas sector
Construction
Transport and communication
Non-residents
Geographic distribution of loans-to-total loans
Domestic
Foreign
Large exposures-to-capital
Gross asset position in derivatives to capital
Gross liability position in derivatives to capital
Foreign currency loans-to-total loans
Source: Central Bank of Trinidad and Tobago.
27
Table 24. Trinidad and Tobago: Interest Rates 1/
(In percent per annum)
2001
2002
2003
2004
2005
3.0
5.3
2.3
3.1
2.0
3.0
1.8
2.5
1.5
2.4
6.6
6.8
7.8
7.0
3.5
3.6
4.4
3.9
3.1
3.5
4.2
2.6
2.7
3.3
3.6
2.3
2.7
3.1
3.5
3.0
Basic prime rate
Term
Demand
Overdraft
Real estate mortgage
Spread, 1-year time deposit to U.S. dollar rate
15.0
15.3
15.0
15.5
16.0
0.8
12.0
13.6
13.0
13.6
11.8
0.5
11.5
11.3
11.5
11.5
12.5
1.6
9.5
9.5
9.5
9.5
9.5
1.3
9.0
9.1
9.0
9.1
9.3
0.5
Weighted average deposit rate
Weighted average lending rate
Spread, lending rate to deposit rate
5.7
14.5
8.8
3.7
12.8
9.1
2.5
11.2
8.7
2.3
10.1
7.9
1.8
9.1
7.2
5.0
8.0
13.3
5.0
8.0
12.5
4.0
6.0
12.5
5.0
8.0
12.0
3.5
5.8
9.5
9.7
9.8
9.8
4.6
4.7
13.3
14.3
12.8
13.1
12.0
12.4
10.1
10.8
12.1
12.1
9.8
11.3
8.0
11.4
7.6
9.6
8.3
9.4
6.1
10.8
Weighted average deposit rate
Weighted average lending rate
Spread lending rate to deposit rate
10.1
11.6
1.5
7.7
11.0
3.3
6.8
9.4
2.6
5.8
9.3
3.5
5.6
8.7
3.0
Central bank rate
13.0
7.3
7.0
7.0
8.0
Treasury bills 3/
8.3
4.8
4.8
4.8
4.8
Commercial banks
Savings deposits
Ordinary
Special
Time deposits
0–3 months
3–6 months
6 months–1 year
Deposits in U.S. dollars 2/
Thrift institutions
Savings deposits
Time deposits (1–3 years)
Mortgage loans, residential
Trust and mortgage finance companies
Time deposits
1–3 years
Mortgage loans
Residential
Commercial
Finance houses and merchant banks
Time deposits
Installment loans
Nonbank financial institutions
Sources: Central Bank of Trinidad and Tobago; and International Financial Statistics (IMF).
1/ Median rates, unless otherwise specified.
2/ Weighted average deposit rate.
3/ Weighted average discount rate for the year.
28
Table 25. Trinidad and Tobago: Summary Balance of Payments
2001
2002
2003
2004
Est.
2005
(In millions of U.S. dollars; unless otherwise indicated)
Current account balance
449
76
961
1,803
3,964
Trade balance
722
237
1,293
1,524
3,939
Exports
Petroleum crude and refined
Gas
Petrochemicals
Other
4,304
1,735
828
823
918
3,920
1,768
459
647
1,046
5,205
2,386
951
907
962
6,403
1,643
1,978
1,522
1,260
9,664
3,038
2,632
1,922
2,072
Imports
Fuel imports
Capital
Other
3,583
926
1,048
1,608
3,683
1,019
1,165
1,499
3,912
1,064
1,053
1,794
4,879
1,181
1,747
1,951
5,725
1,992
1,125
2,608
-273
233
-539
33
-161
264
-480
55
-332
314
-705
59
279
671
-446
54
25
527
-554
53
22
-27
-627
-1,068
-2,169
-49
27
-76
777
835
58
199
-904
-405
-51
18
-69
684
791
106
-22
-639
-356
-74
16
-90
583
808
225
94
-1,230
-121
-230
25
-255
973
1,001
29
-524
-1,286
-214
-45
59
-104
599
940
341
97
-2,820
-693
470
49
334
735
1,795
-470
-49
-334
-735
-1,795
Services and transfers (net)
Nonfactor services (net)
Factor income (net)
Current transfers (net)
Capital and financial account (net) 1/
Official, medium and long-term (net)
Disbursements
Amortizations
Direct Investment (net)
Inward
Outward
Commercial banks (net)
Other private sector capital (net) 1/
Of which : net errors and omissions
Overall balance
Change in gross official reserves (increase -)
Memorandum items:
(In percent of GDP; unless otherwise specified)
Current balance
Exports
Imports
Gross international reserves (millions of US$, end of period)
Oil prices (WEO, spot crude)
4.7
45.3
37.7
1,876
24.3
0.8
40.4
37.9
1,924
25.0
Sources: Central Bank of Trinidad and Tobago, Central Statistical Office; and Fund staff estimates.
8.0
43.3
32.5
2,258
28.9
13.3
47.3
36.1
2,993
37.8
24
60
35
4,787
53
29
Table 26. Trinidad and Tobago: Summary of Exports, f.o.b.
(In millions of U.S. dollars; unless otherwise indicated)
2001
2002
2003
2004
2005
4,304.2
3,920.0
5,204.9
6,402.9
9663.9
57.1
40.8
114.6
166.6
...
Domestic exports
3,729.0
3,604.2
5,090.3
6,236.3
...
Fuels
Crude petroleum
Volume (million barrels)
Value
Unit value
Refined petroleum products
Volume (million barrels)
Value
Unit value
Liquified natural gas
Volume (million tonnes)
Volume (million btu)
Value
Unit value
Natural gas liquids
Volume (million barrels)
Value
Unit value
2,045.0
2,064.2
3,355.7
3,621.0
...
18.3
453.0
24.8
24.8
586.0
23.6
26.0
814.9
31.3
20.5
821.6
40.1
...
...
...
54.3
1,282.3
23.6
53.4
1,182.0
22.1
52.7
1,571.1
29.8
40.3
821.4
20.4
...
...
...
2.8
155.9
510.0
3.3
4.1
228.3
274.9
1.2
8.9
495.5
676.3
1.4
9.4
523.4
1,750.7
3.3
...
...
...
7.7
310.0
40.3
8.8
184.3
20.9
10.2
274.4
26.9
10.1
227.3
22.5
...
...
...
823.0
647.1
906.6
1,522.0
...
3,217.0
435.0
135.2
3,565.3
338.0
94.8
3,974.0
490.0
123.3
4,344.0
919.0
211.6
...
...
...
515.0
65.0
126.2
674.8
63.0
93.4
648.0
101.1
156.0
575.0
102.7
178.6
...
...
...
1,495.0
257.0
171.9
66.0
2,829.0
192.0
67.9
54.1
2,832.0
257.0
90.7
58.5
3,344.0
441.5
132.0
58.8
...
...
...
...
868.8
1,004.9
847.0
1,136.2
...
1,939.0
286.0
147.5
2,066.0
332.0
160.7
1,903.0
321.1
168.7
1,907.0
412.1
216.1
...
...
...
61.0
26.0
0.4
556.8
145.0
94.6
9.1
5.0
123.9
75.2
103.8
0.2
37.0
24.8
0.7
648.1
144.6
101.1
9.4
5.9
232.7
93.9
60.2
0.3
34.4
24.1
0.7
501.8
125.2
101.1
11.7
6.0
122.0
72.1
63.1
0.6
43.8
20.4
0.5
703.7
141.0
83.1
15.6
7.3
259.7
129.7
66.7
0.6
...
...
...
...
...
...
...
...
...
...
...
...
3,378.3
79.5
1,691.8
44.1
2,874.3
74.1
1,652.0
51.9
4,243.3
83.4
1,753.6
51.9
5,143.0
81.9
2,658.2
43.6
...
...
...
...
Total exports
Re-exports
Chemicals
Anhydrous ammonia
Volume (thousand metric tons)
Value
Unit value
Urea
Volume (thousand metric tons)
Value
Unit value
Methanol
Volume (thousand metric tons)
Value
Unit value
Other chemicals
Other products
Steel products
Volume (thousand metric tons)
Value
Unit value
Sugar
Volume (thousand metric tons)
Value
Unit value
Other
Food and live animals (excluding sugar)
Beverages and tobacco
Crude materials
Animal and vegetable fats
Manufactures (excluding steel)
Machinery
Miscellaneous manufactured articles
Other exports and errors
Memorandum items:
Fuels and chemicals exports
(percent of total domestic production)
Nonfuels
Crude oil exports/production (in percent)
Sources: Central Bank of Trinidad and Tobago; Central Statistical Office; and Fund staff estimates.
30
Table 27. Trinidad and Tobago: Summary of Imports
2001
2002
2003
2004
2005
(In millions of U.S. dollars)
Total imports
Imports for processing
3582.5
9.7
3682.6
9.8
3911.9
12.7
4879.3
13.7
5724.6
14.7
662.7
400.9
272.5
128.4
261.8
645.5
382.5
247.4
135.1
263.0
755.8
450.8
285.8
164.9
305.0
837.3
494.3
325.9
168.4
342.9
1063.7
616.3
408.3
208.0
447.4
Raw materials and intermediate goods
Fuels
Construction materials
Other
1438.8
925.4
140.5
372.9
1561.4
1018.3
133.7
409.3
1621.0
1064.2
177.7
379.1
1890.1
1181.1
248.2
460.8
2907.3
1992.2
233.4
681.7
Capital goods
Transport equipment
Oil and mining machinery
Other
1048.4
185.3
51.1
812.0
1165.3
353.6
86.8
724.9
1053.4
178.6
85.4
789.4
1747.2
352.8
326.9
1067.4
1124.8
156.2
87.2
881.4
432.6
310.4
481.7
404.7
628.8
24.7
10.8
16.6
65.9
17.3
27.0
53.8
-35.6
39.9
6.8
15.5
14.3
39.9
7.4
20.2
7.8
Consumer goods
Nondurables
Food
Other
Durables
Other Commodities
(Annual percent change)
Total imports
Consumer goods
Raw materials and intermediate goods
Capital goods
8.0
21.6
-4.6
24.8
2.8
-2.6
8.5
11.2
6.2
17.1
3.8
-9.6
(In percent of GDP)
Total imports
Consumer goods
Raw materials and intermediate goods
Capital goods
40.7
7.5
16.3
11.9
41.1
7.2
17.4
13.0
36.4
7.0
15.1
9.8
Sources: Central Bank of Trinidad and Tobago; Central Statistical Office; and Fund staff estimates.
31
Table 28. Trinidad and Tobago: Imports by Country of Origin
2001
2002
2003
2004
2005
(In millions of U.S. dollars)
Imports, c.i.f.
CARICOM Countries
Barbados
Guyana
Jamaica
Other CARICOM countries
Latin America Free Trade
Venezuela
Brazil
Other
Central American Common Market
United States
Canada
European Economic Community
European Free Trade Association
Other
3,582.5
121.1
23.4
16.3
20.1
61.3
849.9
438.1
200.4
211.6
27.3
1,315.9
91.7
642.2
25.6
508.8
3,682.6
92.4
30.7
15.8
17.4
28.5
739.8
399.2
210.2
130.4
25.6
1,236.5
104.1
586.7
40.3
857.2
3,911.9
92.2
22.2
22.4
16.8
30.8
824.9
264.5
352.5
207.9
23.5
1,179.7
116.9
697.1
40.7
936.9
4,879.3
97.7
22.7
26.0
14.2
34.8
859.4
153.5
511.1
169.2
21.6
1,662.2
107.9
1,080.2
37.6
1,012.7
5,724.6
111.7
28.6
22.0
14.8
46.3
1,633.8
345.5
775.5
512.8
27.8
1,643.2
123.0
820.0
68.0
1,297.1
(In percent of total)
CARICOM countries
Barbados
Guyana
Jamaica
Other CARICOM countries
Latin America Free Trade
Venezuela
Brazil
Other
Central American Common Market
United States
Canada
European Economic Community
European Free Trade Association
Other
3.4
0.7
0.5
0.6
1.7
23.7
12.2
5.6
5.9
0.8
36.7
2.6
17.9
0.7
14.2
2.5
0.8
0.4
0.5
0.8
20.1
10.8
5.7
3.5
0.7
33.6
2.8
15.9
1.1
23.3
2.4
0.6
0.6
0.4
0.8
21.1
6.8
9.0
5.3
0.6
30.2
3.0
17.8
1.0
23.9
2.0
0.5
0.5
0.3
0.7
17.6
3.1
10.5
3.5
0.4
34.1
2.2
22.1
0.8
20.8
Sources: Central Statistical Office; Central Bank of Trinidad and Tobago; and Fund staff estimates.
2.0
0.5
0.4
0.3
0.8
28.5
6.0
13.5
9.0
0.5
28.7
2.1
14.3
1.2
22.7
32
Table 29. Trinidad and Tobago: Exports by Country of Destination
2001
2002
2003
2004
2005
(In millions of U.S. dollars)
Exports, f.o.b.
CARICOM countries
Barbados
Guyana
Jamaica
Other CARICOM countries
Latin America Free Trade
Venezuela
Brazil
Other
Central American Common Market
United States
Canada
European Economic Community
European Free Trade Association
Other
4,304.2
1,034.7
267.6
88.4
353.7
325.0
134.4
51.1
13.7
69.6
161.9
1,779.1
98.6
230.3
8.1
857.1
3,920.0
770.8
179.5
83.0
294.2
214.1
109.5
24.1
18.5
66.9
114.8
1,803.5
92.4
259.4
5.1
764.5
5,204.9
959.0
203.7
149.9
353.6
251.8
183.4
42.2
30.8
110.4
138.3
2,785.2
95.4
214.9
2.3
826.4
6,402.9
814.6
213.8
122.4
245.6
232.8
241.2
17.9
36.9
186.4
45.1
4,471.8
83.8
223.2
0.6
522.6
9,663.9
2,044.0
405.7
266.8
717.7
653.8
379.6
23.7
69.5
286.4
76.2
5,568.1
104.4
202.4
5.2
1,284.0
(In percent of total)
CARICOM countries
Barbados
Guyana
Jamaica
Other CARICOM countries
Latin America Free Trade
Venezuela
Brazil
Other
Central American Common Market
United States
Canada
European Economic Community
European Free Trade Association
Other
24.0
6.2
2.1
8.2
7.6
3.1
1.2
0.3
1.6
3.8
41.3
2.3
5.4
0.2
19.9
19.7
4.6
2.1
7.5
5.5
2.8
0.6
0.5
1.7
2.9
46.0
2.4
6.6
0.1
19.5
18.4
3.9
2.9
6.8
4.8
3.5
0.8
0.6
2.1
2.7
53.5
1.8
4.1
0.0
15.9
12.7
3.3
1.9
3.8
3.6
3.8
0.3
0.6
2.9
0.7
69.8
1.3
3.5
0.0
8.2
Sources: Central Statistical Office; Central Bank of Trinidad and Tobago; and Fund staff estimates.
21.2
4.2
2.8
7.4
6.8
3.9
0.2
0.7
3.0
0.8
57.6
1.1
2.1
0.1
13.3
33
Table 30. Trinidad and Tobago: Public Sector External Debt
2001
2002
2003
2004
Prel.
2005
(In millions of U.S. dollars)
Public sector external debt
Debt outstanding (end of period)
Drawings
Amortization due
Debt service
Interest payments
Rescheduling
Valuation adjustment
1,666
53
61
183
121
0
-6
1,549
43
69
198
130
0
9
1,553
87
90
206
117
0
7
1,361
34
226
336
110
0
0
1,327
58
92
186
94
0
0
Central government
Debt outstanding (end of period) 1/
Drawings
Amortization due
Debt service
Interest payments
Rescheduling
Valuation adjustment
1,517
53
61
183
121
0
-6
1,500
43
69
198
130
0
8
1,502
87
90
206
117
0
6
1,310
34
226
336
110
0
0
1,276
58
92
186
94
0
0
149
0
0
0
0
0
0
50
0
0
0
0
0
1
51
0
0
0
0
0
1
51
0
0
0
0
0
0.3
51
0
0
0
0
0
0
0
0
0
0
0
i
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
Public enterprises
Debt outstanding end of period
Drawings
Amortization
Debt service
Interest payments
Rescheduling
Valuation adjustment
Central bank
Debt outstanding end of period
Drawings
Amortization
Valuation adjustment
Interest payments
(In percent of total outstanding debt, unless otherwise stated)
By creditor
Bilateral agencies
Multilateral agencies
2.3
36.0
61.4
46.3
2.0
37.5
55.4
50.5
1.5
39.2
58.1
48.6
1.1
41.8
55.6
44.8
0.8
41.7
57.5
56.6
By maturity
Short term
Medium term
Long term
0.0
32.7
67.3
0.0
32.6
67.4
0.0
33.7
66.3
0.0
32.5
67.5
0.0
29.0
71.0
Debt in percent of GDP
Debt service in percent of exports of goods and serv
Interest payment in percent of exports of goods and
19.7
3.7
2.5
17.6
4.4
2.8
14.8
3.5
2.0
11.1
4.6
1.5
9.2
1.8
0.9
Other
Of which: bonds
Sources: Ministry of Finance; Central Bank of Trinidad and Tobago; and Fund staff estimates.
1/ Excludes a short-term U.S. dollar denominated bond of US$150 million provided by resident financial institutions in 1998.