TTSE: Trinidad and Tobago Stock Exchange
The main stock exchange in the Republic of Trinidad and Tobago is the Trinidad and Tobago Stock Exchange (TTSE). In the Caribbean region it is rated as the leading stock exchange catering specifically to the strong financial position of majority of the Trinidadian and Tobagonian companies. Its position as a member-state of CARICOM (Caribbean Community trade forum promoting economic integration and cooperation among member countries) allows many companies from Barbados, Eastern Caribbean Securities Exchange and Jamaica to cross-list their stocks onto the TTSE. On March 18, 2005, in line with global trends, the TTSE replaced the manual open outcry system with the Horizon Electronic Trading System.
In 2002 Trinidad and Tobago experienced a growth rate of 3.2% making it an overall of nine consecutive years of growth after the previous economic decline it experienced. Five of the companies listed with the stock exchange is D'aguilar Gold Limited, Dakota Mining Corporation, Falcon Ventures Inc, Paladin Resources Limited and Falkland Gold and Minerals Ltd.
Trinidad and Tobago is continuing to develop its petrochemical, hydrocarbon and metal sectors and is having a significant increase in exports. Trinidad and Tobago continues to focus also on diversification of sectors like manufacturing, services, tourism and agriculture. The strong growth rate that Trinidad and Tobago have had over the years has led to trade surpluses, even with their high import levels due to increased consumer demand and industrial expansion.
Trinidad and Tobago is rated the 5th biggest exporter of liquefied natural gas in the world, exporting LNG to the United States is now as much as 65%. Trinidad and Tobago are also changing their oil-based economy to a more natural gas based economy. Of all the nonhydrocarbon sectors the construction, distribution, transport, communication and manufacturing sectors have all continued to grow, many being represented on the Trinidad and Tobago Stock Exchange.
The GDP, purchasing power parity came to a total of $9.41 billion with a real growth rate of 5% in 1999. The GDP, per capita, purchasing power parity was $8,500 and the sectors that added to the GDP were agriculture: 2%, services: 54% and industry: 44%. Trinidad and Tobago produce many agricultural products like cocoa, rice, citrus, sugarcane, vegetables, coffee and poultry. There was a total export of $2.4 billion in 1998, the main products being petroleum and petroleum products, steel products, chemicals, fertilizer, cocoa, sugar, citrus, flowers and coffee. Exports go out mainly to the United States, European Union, Caricom and Central and South America. Imports of machinery, manufactured goods, transport equipment, food and live came to a total of $3 billion. There import partners made up of Latin America, United States, Japan and European Union.
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