craig lee | pai 757 | april 21, 2014 trinidad & tobago economic and urban development
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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
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