Falling Energy Exports To Erode T&T's Current Account Surplus

• Trinidad & Tobago’s (T&T) current account surplus will narrow over the coming quarters as declining energy production and subdued prices decrease T&T’s goods trade surplus.

 

• Weak economic activity and a negative interest rate differential with the United States will drive continued capital outflows, which will keep T&T’s overall external position in deficit.

 

• Fitch Solutions revised its current account surplus for 2019 from 8.7% of GDP to 5.7% and for 2020 from 12.7% to 5.3% as revised data showed a significantly smaller surplus in 2018 than previously reported and energy production has fallen steeply.

(Source: Fitch)