Overview of best prospect sectors, major infrastructure projects, significant government procurements and business opportunities.
Despite TT’s economic challenges, the quality and reliability of U.S. goods, along with its vibrant and innovative services, encourage TT businesses and consumers to purchase from the United States. In addition to the leading sectors of opportunity of information and communications technology, medical equipment, pharmaceuticals, and agricultural exports, opportunities exist for motor vehicles (alternative fuel), health and wellness products, machinery, financial technology, alternative energy research and design services, and security equipment.
Large infrastructure projects previously announced by the government of Trinidad and Tobago (GoTT) include a ferry port and harbor development, three solar power projects, a waste-to-energy plant, a green-hydrogen plant, and an airport renovation project. The GoTT identified construction as a key element to assist in post-coronavirus economic recovery. Additional prospects for opportunities in transportation and logistics have yet to materialize as government tenders.
Despite TT having the third largest consumer market in the English-speaking Caribbean, it has remained an attractive market because of its consumers’ purchasing power. With over 95 percent of households having access to broadband coverage, 55 percent of these via mobile connections (representing a 65 percent increase over the past 12 months), the opportunities for eCommerce are significant. The proportion of citizens over 65 years of age in TT has doubled in the last forty years, representing growth in products and services targeted for this demographic.