Trinidad & Tobago Recovery To Extend Into 2022 On Strength Of Exports, Private Consumption

• Between 2021-22, Trinidad & Tobago (T&T) will experience consecutive years of real GDP growth for the first time since 2012-13 amid sustained demand for energy exports and recovering private consumption. 
• However, Fitch Solutions has revised its 2021 real GDP growth forecast to 3.4%, from 4.4% previously, as a Q221 COVID-19 outbreak delayed the rebound in private consumption. In contrast, the agency has revised its 2022 forecast upwards to 2.5%, from 2.0%, as Fitch expects vaccinations to strengthen consumption in the quarters ahead. 
• Risks to Fitch’s 2022 forecast are weighted to the downside as economic growth in developed markets has likely peaked, which could undermine demand for energy exports in the quarters ahead.

 

(Source: Fitch Solutions)