72784 v2 World Trade Indicators 2009/10 Trinidad and Tobago: Trade-at-a-Glance Table 2008 GDP 2008 GDP 2008 Share 2008 Trade Membership No. of FTAs/ EIAs (millions) per capita in World Trade per capita GATT WTO Goods Services $23,898 $17,865 0.08% $21,648 1962 1995 3 2 TRADE PERFORMANCE‡ TrinTobago HI non- Ranking Decile OECD High inc TRADE POLICY (TP) (out of 125) 55 5 EXTERNAL ENVIRONMENT (EE) (out of 125) 37 3 INSTITUTIONAL ENVIRONMENT (IE) (out of 183) 81 5 TRADE FACILITATION (TF) (out of 155) .. .. TRADE OUTCOME (TO) (out of 157) 61 4 Outer bound represents best value in latest year ‡ Rankings are based on the representative indicators (in bold) in each group below for the latest year TRADE POLICY (TP) 1995-99^ 2000-04^ 2005-08^ Latest Tariff Trade Restrictiveness Index TTRI (MFN applied tariff) 6.0 4.7 4.4 * TTRI (applied tariff including preferences) .. 4.6 4.2 * MFN applied tariff (spl avg) OTRI (Overall TRI, applied tariff incl. prefs.+NTMs) .. 5.6 5.1 * MFN applied tariff - simple avg (%) 15.3 8.0 7.9 8.0 TTRI (MFN) Dispersion (coefficient of variation) 1.5 1.8 2.1 2.4 Maximum rate (excl. alcohol and tobacco) .. .. 40.0 40.0 Agriculture - simple avg (%) 24.0 16.7 19.7 21.8 MFN applied tariff (wgt avg) Nonagriculture - simple avg (%) 13.3 6.7 6.1 5.9 MFN applied tariff - trade weighted avg (%) 12.5 5.7 11.8 14.3 Applied tariff (wgt avg) Applied tariff (incl. prefs.) - trade weighted avg (%) 12.5 5.7 11.4 13.9 Agriculture 17.2 22.3 57.5 80.8 Import duties Nonagriculture 11.4 4.0 5.2 4.9 Applied tariff (incl. prefs.) - production weighted avg (%) .. .. .. 0 10 20 30 MFN applied tariff escalation (finished % minus raw %) -4.2 -3.7 -3.9 TrinTobago HI non-OECD High inc Agriculture .. -0.5 7.8 11.4 Nonagriculture .. -2.2 -3.1 -3.8 Import duties (% of imports) 4.0 3.6 3.6 .. Tariff overhang (MFN bound minus MFN applied rate,%) 41.5 48.4 47.9 47.9 GATS commit. Bound tariff frequency ratio (% of total lines) 100.0 100.0 100.0 100.0 index Non-ad valorem tariff frequency ratio (%) 28.2 0.1 0.4 0.4 Non-tariff measures frequency ratio (%) .. .. .. .. 0 40 80 Anti-dumping initiations 1.6 0.8 0.0 0.0 TrinTobago HI non-OECD High inc Overall GATS commitment index (0-100, best) .. 15.66 15.66 * EXTERNAL ENVIRONMENT (EE) 1995-99^ 2000-04^ 2005-08^ Latest Market Access-TTRI (MA-TTRI, applied tariff incl. prefs.) 2.2 1.5 * MA-TTRI MA-OTRI (applied tariff incl. prefs. and NTMs) 13.8 13.5 * ROW applied tariff (incl. prefs.) - trade weighted avg (%) 4.9 3.0 0.6 0.3 ROW applied(wgt avg) Agriculture 26.5 26.6 15.4 11.9 Nonagriculture 2.6 1.9 0.4 0.2 MFN zero duty exports (%) MFN zero-duty exports (% of total exports) 22.8 39.7 62.3 53.1 * Exports to FTA / CU partners (% of total exports) 0.0 0.0 16.0 36.4 TrinTobago 0HI non-OECD High inc 1 Anti-dumping initiations faced 0.2 0.0 0.0 0.0 All numbers normalized to a 0 to 1 scale Real effective exchange rate (% change,+ =apprec.) 0.2 1.5 3.7 5.1 All data are as of January 2010 and are drawn from the World Trade Indicators 2009/10 Database. The database, Trade-at-a-Glance Tables, Country Trade Briefs and User Guide, are available at http://www.worldbank.org/wti. ^ Indicators shown are period averages. "Latest" indicates 2008, when not available, 2006 or 2007 (noted by *). EAP: East Asia and Pacific, ECA: Europe and Central Asia, LAC: Latin America and the Caribbean, MNA: Middle East and North Africa, SAS: South Asia, SSA: Sub-Saharan Africa. GATT: General Agreement on Tariffs and Trade; WTO: World Trade Organization; FTA: free trade agreement; EIA: economic integration arrangement; NTM: nontariff measures; ROW: rest of the world; CU: customs union; ".." indicates missing value. World Trade Indicators 2009/10 Trade-at-a-Glance Tables INSTITUTIONAL ENVIRONMENT (IE) 2006 2007 2008 2009 Ease of Doing Business (rank out of 183) .. 71 78 81 Ease of Starting a business (rank) .. 44 56 65 Doing 160 Business Enforcing contracts (rank) .. 168 168 169 Rank Closing a business (rank) .. 181 183 183 80 World Governance Indicators (WGI) 2005 2006 2007 2008 TrinTobago Regulatory Quality (-2.5 to +2.5, best) 0.64 0.70 0.68 0.62 HI non-OECD Rule of Law (-2.5 to +2.5, best) -0.12 -0.29 -0.20 -0.25 High inc 0 Control of Corruption (-2.5 to +2.5, best) 0.00 -0.18 -0.21 -0.17 TRADE FACILITATION (TF) 1995-99^ 2000-04^ 2005-08^ Latest Logistics Performance Index (LPI, 1 to 5 best) .. .. .. .. Efficiency of customs and other border procedures .. .. .. .. Quality of transport and IT infrastructure .. .. .. .. Logistics Performance Ease of arranging competitively-priced shipments .. .. .. .. Index Logistics competence .. .. .. .. Ability to track and trace shipments .. .. .. .. 0 2 4 Timeliness of shipments .. .. .. .. TrinTobago HI non-OECD High inc Trading Across Borders (Doing Business, rank out of 183) 48 49 No. of documents required for export .. .. 5 5 200 No. of days required to export .. .. 14 14 160 Cost to export (US$ per container) .. .. 751 866 120 No. of documents required for import .. .. 6 6 80 No. of days required to import .. .. 26 26 40 Cost to import (US$ per container) .. .. 1,100 1,100 0 Telephones (fixed + mobile) per 100 people 20.4 49.7 123.1 136.3 * Trading Across Borders Rank Internet users per 100 people 2.0 10.2 14.9 16.0 * TrinTobago HI non-OECD High inc Export credit insured exposures - short term (% of goods export) .. 10.1 8.5 TRADE OUTCOME (TO)# 1995-99^ 2000-04^ 2005-08^ Latest Real growth in trade of goods and services (%) ## 10.6 8.8 9.7 7.2 Real Trade Growth Rate 12 Exports 7.4 7.6 9.0 6.6 10 10.6 9.7 9.1 8.8 Imports 16.5 10.5 10.5 7.8 8 8.7 7.8 8.1 7.2 6.6 6.7 Goods 16.1 8.8 12.2 6.1 6 Services 1.8 8.8 14.0 7.1 4 3.4 2.7 Nominal growth in trade of goods and services (%) 13.4 14.9 24.2 30.1 2 0 Exports 10.9 17.6 28.3 30.0 1995-99 2000-04 2005-07 2008 Imports 17.6 12.1 19.0 30.1 TrinTobago HI non-OECD Trade integration (trade as % of GDP) 96.9 97.2 111.2 111.9 High inc Goods balance (% GDP) -0.6 9.1 30.7 29.0 Export Composition (2005-08) Food balance (% GDP) -1.4 -1.0 -1.4 -1.8 Travel , 3.4 Oth com Transport ser, 1.7 Services balance (% GDP) 4.6 2.7 2.4 2.2 , 1.7 Agric, 2.5 Goods share of total exports (%) 82.5 87.9 93.6 94.8 Manufac, Services share of total exports (%) 17.5 12.1 6.5 5.6 Minral, 23.5 1.1 Goods exports as a share of world goods exports (rank)** 83 78 72 72 Services exports as share of world services exports (rank)** 94 95 103 105 Foreign Direct Investment (FDI) inflows (% of GDP) 10.1 8.3 4.9 4.0 * Total remittances inflows (% GDP) 0.6 0.6 0.5 0.5 Export product concentration index (0-100, most) 33.6 35.2 38.4 35.3 * Fuels, 66.1 Export market concentration index (0-100, most) 45.5 54.2 54.8 45.6 Top 5 export markets (shares) USA (47%), Spain (8%), Netherlands (7%), Jamaica (6%), Mexico (3%) Top 5 import markets (shares) USA (27%), Brazil (10%), Venezuela, Rep. Bol. (8%), Colombia (5%), China, People's Rep. of (4%) Top 5 export products (SITC 3 digit-shares) 334-Hvy petrol. (27%), 343-Natural gas (26%), 333-Petrol, crude (11%), 522-Elements/oxides (10%), 512-Alcohols (6%) Top 5 import products (SITC 3 digit-shares) 333-Petrol, crude (33%), 281-Iron ores (5%), 741-Indust heat/cool equipmt (5%), 679-Iron/steel pipe (2%), 781-Cars (2%) ^ Indicators shown are period averages (except for Trading Across Borders rank: 2005-08 reflects 2008). "Latest" indicates 2008 (for Doing Business, LPI 2009), when not available, 2006 or 2007 (noted by *). # Outcome indicators are from the World Bank Development Data Group, Prospects Group, UNCTAD and COMTRADE. ## In constant 2000 US dollars. ** Rank is based on average annual world share for each period. The sample sizes are 173, 179, 180 and 173 countries, respectively.