That dollar amount results from a 43.7% increase compared to the total $5.5 billion 5 years earlier in 2020.
Year over year, the value of Trinidad and Tobago’s exported goods slowed to a 1.2% gain from $7.82 billion starting from 2023.
Based on the average exchange rate for 2024, the Trinidad/Tobago dollar appreciated by 0.1% against the US dollar since 2020 and went up by 0.04% from 2023 to 2024. Trinidad and Tobago’s slightly stronger local currency makes its exports paid for in weaker US dollars modestly more expensive for international buyers starting from American currency.
Trinidad and Tobago’s top 5 most valuable exported products are crude oil, acyclic alcohols, ammonia, iron ore-reduced products, then processed petroleum oils. Added together, that quintet of major goods generated just over two-thirds (67.5%) of the overall value of Trinidad and Tobago’s exports.
Trinidad and Tobago’s Top Trading Partners
The latest available country-specific data shows that 74.6% of products exported from Trinidad and Tobago was bought by importers in: United States of America (40.8% of Trinidad and Tobago’s total), Guyana (5.3%), Belgium (4.9%), Netherlands (3.5%), France (2.9%), Brazil (2.8%), Jamaica (2.63%), Morocco (2.53%), mainland China (2.52%), Spain (2.44%), Barbados (2.3%) and Mexico (2.1%).
From a continental perspective, 44.6% of Trinidad and Tobago’s exports by value was delivered to North American countries while 24.7% was sold to importers based in Latin America excluding Mexico but including the Caribbean. Trinidad and Tobago shipped another 20.8% worth of goods to buyers based in Europe.
Smaller percentages went to customers in Asia (6.8%), Africa (3%) then Oceania (0.1%) led by Australia.
Given Trinidad and Tobago’s population of 1.428 million people, its total $7.91 billion in 2024 exports translates to about $5,550 for every resident in the Caribbean nation. That dollar metric outpaces the average $5,500 per capita one year earlier during 2023.
Trinidad and Tobago’s Top 10 Exports
The following export product groups represent the highest dollar value in Trinidadian/Tobagonian global shipments during 2024. Also shown is the percentage share each export category represents in terms of overall exports from Trinidad and Tobago.
- Mineral fuels including oil: US$2.7 billion (34.4% of total exports)
- Organic chemicals: $1.4 billion (17.6%)
- Inorganic chemicals: $1.3 billion (16.1%)
- Iron, steel: $595.8 million (7.5%)
- Fertilizers: $411.3 million (5.2%)
- Ships, boats: $168.7 million (2.1%)
- Beverages, spirits, vinegar: $167 million (2.1%)
- Articles of iron or steel: $157.5 million (2%)
- Cereal/milk preparations: $134.9 million (1.7%)
- Miscellaneous food preparations: $96.4 million (1.2%)
Trinidad and Tobago’s top 10 export categories accounted for 89.9% of the overall value of its global shipments.
Ships and boats represent the fastest grower among the top 10 export categories, up by 10.7% from 2023 to 2024.
In second place for improving export sales were miscellaneous food preparations via a 6.2% advance.
Trinidad and Tobago’s shipments of paper, including items made from paper, posted the remaining gain in value, up by 5.2%.
The leading decliner among Trinidad and Tobago’s top 10 export categories came down to the metals iron and steel, thanks to a -20.6% year-over-year slowdown.
At the more detailed four-digit Harmonized Tariff System (HTS) code level, Trinidad and Tobago’s most valuable export product were crude petroleum oil at 20.4% of the country’s total. In second place were acyclic alcohols (17.2%) trailed by ammonia (15.9%), iron ore-reduced products (7.1%), processed petroleum oils (7%), petroleum gases (also 7%), nitrogenous fertilizers (5.2%), cruise or cargo ships (1.8%), miscellaneous iron or steel tubes and pipes (1.6%), then non-alcoholic drinks excluding water, juice and milk (1.5%).
Products Generating Largest Trade Surpluses for Trinidad and Tobago
Trinidad and Tobago incurred an overall US$241.1 million trade surplus for 2024. That amount of black ink reverses a -$1.3 billion deficit in 2023.
The following types of Trinidadian/Tobagonian product shipments represent positive net exports or a trade balance surplus. Investopedia defines net exports as the value of a country’s total exports minus the value of its total imports.
In a nutshell, net exports represent the amount by which foreign spending on a home country’s goods or services exceeds or lags the home country’s spending on foreign goods or services.
- Mineral fuels including oil: US$1.5 billion (Reversing a -$928.1 million deficit in 2023)
- Organic chemicals: $1.4 billion (Down by -11.2% since 2023)
- Inorganic chemicals: $1.2 billion (Down by -15.8%)
- Iron, steel: $437.2 million (Down by -29.2%)
- Fertilizers: $404.3 million (Up by 12.8%)
- Beverages, spirits, vinegar: $88.6 million (Up by 47.5%)
- Cereal/milk preparations: $59.4 million (Up by 20.7%)
- Tobacco, manufactured substitutes: $46.8 million (Up by 81.2%)
- Gems, precious metals: $28.4 million (Reversing a -$3.4 million deficit)
- Salt, sulphur, stone, cement: $26.8 million (Up by 3228.4%)
Trinidad and Tobago generated highly positive net exports in the international trade of mineral fuels including oil, organic and inorganic chemicals. In turn, these cashflows indicate Trinidad and Tobago’s strong competitive advantages under the related product categories.
Products Causing Worst Trade Deficits for Trinidad and Tobago
Below are exports from Trinidad and Tobago that result in negative net exports or product trade balance deficits. These negative net exports reveal product categories where foreign spending on home country Trinidad and Tobago’s goods trail Trinidadian/Tobagonian importer spending on foreign products.
- Machinery including computers: -US$821.8 million (Up by 4.3% since 2023)
- Vehicles: -$595.8 million (Up by 13%)
- Electrical machinery, equipment: -$390.4 million (Up by 24.2%)
- Ores, slag, ash: -$379.7 million (Up by 4.1%)
- Other base metal goods: -$254.4 million (Up by 980.8%)
- Plastics, plastic articles: -$207.7 million (Up by 15.1%)
- Pharmaceuticals: -$195 million (Up by 19.6%)
- Ships, boats: -$159.6 million (Down by -4.8%)
- Dairy, eggs, honey: -$145.4 million (Up by 3.6%)
- Articles of iron or steel: -$138.4 million (Down by -7.4%)
Trinidad and Tobago incurred notably negative net exports and therefore international trade deficits under the machinery and vehicles product categories.
Trinidadian and Tobagonian Export Companies
Not one Trinidadian/Tobagonian corporation ranks among Forbes Global 2000.
Wikipedia lists exports-related companies from Trinidad and Tobago. Selected examples are shown below.
- Atlantic LNG (natural gas)
- Atlas Engineering Limited (construction materials)
- Bermudez Biscuit Company (confectionary foods)
- Carib Brewery (alcoholic beverages)
- Flavorite Ice Cream (dairy products)
- Kiss Baking Company Limited (baked goods)
- National Gas Company of Trinidad and Tobago (natural gas)
- Petrotrin (oil, gas)
- S. M. Jaleel and Company (beverages)
- Solo Beverage Company (soft drinks)
In macroeconomic terms, Trinidad and Tobago’s total exported goods represent 16.1% of its overall Gross Domestic Product for 2024 ($49.2 billion valued in Purchasing Power Parity US dollars). That 16.1% for exports to overall GDP in PPP for 2024 compares to 17.6% for 2023. Those percentages suggest a relatively decreasing reliance on products sold on international markets for Trinidad and Tobago’s total economic performance, albeit based on a short timeframe.
Another key indicator of a country’s economic performance is its unemployment rate. Trinidad and Tobago’s unemployment rate averaged 4.109% for 2024, up from an average 3.981% in 2023 according to Trading Economics metrics.
Trinidad and Tobago’s capital city is Port-of-Spain, which also serves as the nation’s largest cargo port.
See also America’s Top Trading Partners, Mexico’s Top Trading Partners, Guyana’s Top 10 Exports, Mexico’s Top Trading Partners and Exported Paintings and Drawings by Country
Research Sources:
Central Intelligence Agency, The World Factbook Country Profiles. Accessed on September 14, 2025
Forbes Global 2000 rankings, The World’s Biggest Public Companies. Accessed on September 14, 2025
International Monetary Fund, World Economic Outlook Database (GDP based on Purchasing Power Parity). Accessed on September 14, 2025
International Trade Centre, Trade Map. Accessed on September 14, 2025
Investopedia, Net Exports Definition. Accessed on September 14, 2025
Wikipedia, List of Companies of Trinidad and Tobago. Accessed on September 14, 2025
X-RATES.com, Trinidad/Tobago dollar to US dollars Exchange Rates. Accessed on September 14, 2025