Annual Economic Survey 2019

The Central Bank's Annual Economic Survey (AES) is published each year and reviews the economic developments which occurred during the previous year in various sectors of the Trinidad and Tobago economy. For Annual Economic Survey reports prior to 2000, please contact the Bank via the phone numbers and email address in the Contacts Section.

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• Preliminary Central Bank estimates suggest that the Trinidad and Tobago economy contracted in 2019. While the non-energy sector grew modestly, the overall health of the economy was subdued by declining production in the energy sector.
   
• Both crude oil and natural gas prices decreased in 2019.
   
• The labour market remained soft in 2019.
   
• Headline inflation remained unchanged from 2018 - its lowest level on record - due to low food inflation.
   
• The Central Government registered a lower fiscal deficit in the fiscal year (FY) 2018/19 when compared to FY 2017/18, due to higher revenues. The increase in Central Government revenues was partly due to receipts from the tax amnesty implemented in June 2019.
   
• The Repo rate remained at 5.00 per cent throughout 2019.
   
• Global growth slowed in 2019 due to weak global trade and investment, heightened trade policy uncertainty and lower commodity prices.