Mary WilburFebruary 1, 2015SWOT Analysis

Trinidad and Tobago has a strong economy based on their energy resources and

trade. Countries with strong economies have become more interested in trade with

Trinidad and Tobago. Because of this, Trinidad and Tobago is one of the wealthiest

countries in the Caribbean. A major issue in Trinidad is crime and corruption, due to drug

trafficking in the region. The country also has a lot of foreign debt, and the

unemployment rate is very high.

The country’s main strength is Trinidad and Tobago’s abundance of energy

resources, which is the main reason that Trinidad has become one of the wealthiest

countries in the Caribbean. The country is also trying to expand the economy by

expanding many of its industries, including: tourism, food and drink, information

technology, steel, desalination, forestry, and entertainment. By expanding these

industries, Trinidad and Tobago would not be as dependent on the energy industry, which

fluctuates frequently. Trinidad is also a founding member of CARICOM, which created

free trade in the Caribbean. The county’s involvement in CARICOM puts them on the

map as a political force in the western world.

Not all of Trinidad is striving economically, there is a large gap separating the

wealthy from the poor. Another weakness of Trinidad and Tobago is the crime caused by

drug trafficking. The murder and corruption rates are high due to the prevalence of drug

trafficking in Trinidad and Tobago and the surrounding areas. This crime is harmful to

Trinidad and Tobago’s economy because it deters tourism, and there are many people in

the illegitimate workforce instead of industries that would be beneficial to the country’s

economy. The government in Trinidad and Tobago is also weak due to the little tax

Mary WilburFebruary 1, 2015SWOT Analysisrevenue received. Because of this, there are few government policies in place to bridge

the gap between the rich and poor.

Threats to Trinidad and Tobago include: decreases in oil prices, sex trafficking,

and the large amount of debt Trinidad owes to other countries. If oil prices continue to

decrease, like they currently are the economy of Trinidad and Tobago could be in a lot of

trouble. Trinidad’s economy is currently based off its energy resources; therefore, a

decrease in oil prices would cause a decrease in the country’s revenue. If Trinidad and

Tobago had less money coming into the economy, the country’s debt would continue to

rise and the economy would not be as likely to expand. Another threat to Trinidad is the

sex trafficking to foreign countries that is not being handled sufficiently by the

government. This makes the government look weak to other countries.

Despite the very real threats facing Trinidad and Tobago, the country has many

opportunities. Trinidad and Tobago has grown in its relationship with the United

Kingdom. Instead of having a colonial relationship, now the relationship is more equal.

Trinidad has strong international trade with many countries, and there is hope for even

more trade expansion with powerful countries like the United States and China. Both

countries have sent important political figures to discuss trade. Trade with these major

powers would be very beneficial to Trinidad and Tobago, because the country would

always have a large market for its goods.

In conclusion, Trinidad and Tobago’s political and economic standing is stable

enough and has the potential for major growth because of the plans to expand industries

as well as foreign trade. Therefore, the costs of investing in Trinidad and Tobago do not

outweigh the benefits.