Thursday, January 18, 2018

...Imports increased too, but at slower pace*


The country’s single largest import is crude oil, according to CBTT Economic Bulletins (EBs) July 2015 through September 2017. Overall imports have fluctuated, however, imports of crude oil have been consistently increasing every year, compounding the case for fuel subsidy elimination. Trinidad and Tobago crude oil imports grew by 29 per cent year-on-year in 2016 to 37 million barrels, while crude oil exports fell by nine per cent over the same comparable periods to 10 million barrels, according to the EB of September 2017.
While the overall value of imports rose by nine per cent year-on-year in 2016 to US$9.4 billion versus the year earlier, it was still well below the 2013 peak of US$9.9 billion.

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