COVID-19 has been perceived as a global negative shock hurting all sectors and markets. However, many companies are adjusting and developing innovative strategies to survive and grow their businesses. Some of the changes in the international environment have opened the way to new opportunities and improved access in Trinidad and Tobago’s (T&T) traditional export markets for both our goods manufacturers and service providers.
The food and beverage, printing and packaging and miscellaneous manufacturing sectors have been identified as having significant export potential. Within the realm of services, the ICT, financial services, tourism, creative industries (e.g. fashion, music, and film), energy and maritime services all have been identified for development and diversification of T&T’s productive base.
Caricom, Latin America, the United States and the European Union collectively accounted for over 80 per cent of T&T’s exports in 2019. Given the economic importance of these trading partners, exporters should watch for new opportunities there.