Two-way Trade between India and T & T:
Two-way bilateral trade between India and Trinidad & Tobago during the year 2018-19 (April-March) amounted to US$ 279.13 million. Petroleum-crude & products, drugs and pharmaceuticals, iron and steel, garments, rice and other food stuff including spices, I.T. services, auto components, machinery and transportation equipment, plastic products, cosmetics, organic/inorganic chemicals, electronic goods, transport equipment’s, non-ferrous metals, gems & jewellery, silk, sports goods, chemicals, paints, footwear, carpets, leather goods etc. constitute major sectors for imports from India. Items of export to India include scrap metals, wood and wood products, asphalt, chemicals and LNG. Following are bilateral trade figures for the preceding years:
Year India’s Exports India’s Imports
. (in mln US$) (in mln US$)
2015-16 92.88 91.94
2016-17 84.53 173.54
2017-18 88.69 42.48
2018-19 83.75 195.37
(Source: Ministry of Commerce, New Delhi)
Outlook for India T&T bilateral and trade relations:
The outlook for bilateral relations between India and Trinidad & Tobago is positive and shows considerable potential. India’s exports to T&T have shown exponential growth – from US$ 8.8 Million in 2001 to US$ 312.27 Million in 2008-09. With this trend, trade between the two countries could achieve the target of US $ 500 Millions soon. T&T exports to India, however, have shown a decline principally because of shortfall in LNG exports and the economy having been severely impacted by the global downturn which has led to a negative rate of growth. T&T exports should increase with the Government’s intervention in encouraging exports beyond the CARICOM and South American markets.
