Trinidad and Tobago-Guyana Bilateral Trade Analysis 2023
Complete trade statistics: $2.53B total volume •Trinidad and Tobago deficit: $1.28B
Trinidad and Tobago → Guyana
$625.49M
Exports (2023)
Guyana → Trinidad and Tobago
$1.90B
Imports (2023)
Trade Balance
$1.28B
Deficit for Trinidad and Tobago
Total Trade
$2.53B
Combined Volume
Trade Flow Visualization
Direct trade relationship between Trinidad and Tobago and Guyana. Green line shows exports from Trinidad and Tobago, red line shows imports.
Detailed Product Trade Analysis
Comprehensive breakdown of trade flows by product category, revealing the specialized nature of the Trinidad and Tobago-Guyana commercial relationship and competitive positioning in global markets.
Trinidad and Tobago → Guyana Exports
Export Market Intelligence
🎯 Strategic Export Focus
Trinidad and Tobago's export portfolio to Guyana demonstrates strategic specialization, with petroleum oils and oils from bituminous minerals, not crude: preparations n.e.c. containing by weight 70% or more of petroleum oils or oils from bituminous minerals: these being the basic constituents of the preparations: waste oils representing a key competitive advantage in this bilateral market.
Guyana → Trinidad and Tobago Imports
Import Dependency Profile
📦 Import Strategy Analysis
Trinidad and Tobago's import pattern from Guyana reveals significant dependencyin containers: (including containers for transport of fluids) specially designed and equipped for carriage by one or more modes of transport, highlighting complementary economic structures and potential supply chain optimization opportunities.
Competitive Trade Position Analysis
Market Leadership
Trinidad and Tobago demonstrates competitive strength in exportingpetroleum oils and oils from bituminous minerals, not crude: preparations n.e.c. containing by weight 70% or more of petroleum oils or oils from bituminous minerals: these being the basic constituents of the preparations: waste oils to Guyana, leveraging comparative advantages.
Trade Complementarity
The bilateral relationship showsmoderatecomplementarity, with each country specializing in different sectors.
Growth Potential
The $2.53B trade volume indicates substantial economic integration with room for expansion in emerging sectors.
Executive Summary: Trinidad and Tobago-Guyana Trade Relationship
Key Trade Highlights 2023
- Total Trade Volume: $2.53 billionrepresenting a significant bilateral economic relationship
- Trade Balance: Trinidad and Tobago maintains a deficit of $1.28 billion
- Export Focus: Trinidad and Tobago's primary exports include petroleum oils and oils from bituminous minerals, not crude: preparations n.e.c. containing by weight 70% or more of petroleum oils or oils from bituminous minerals: these being the basic constituents of the preparations: waste oils, boring or sinking machinery: parts of the machinery of item no. 8430.41 or 8430.41, rubber: vulcanised (other than hard rubber), gaskets, washers and other seals, of non-cellular rubber
- Import Dependencies: Key imports from Guyana include containers: (including containers for transport of fluids) specially designed and equipped for carriage by one or more modes of transport, boring or sinking machinery: parts of the machinery of item no. 8430.41 or 8430.41, oils and products of the distillation of high temperature coal tar: xylol (xylenes)
Strategic Trade Indicators
📈 Market Position: This bilateral trade relationship represents an important regional trade partnerships, with complementary economic strengths driving sustained commercial exchange.
Historical Trade Analysis & Economic Context
Trade Evolution Timeline
2019-2023: Recent Trends
Current trade volume of $2.53B represents the culmination of evolving bilateral commercial relationships, influenced by global supply chain shifts and changing economic priorities.
2015-2019: Growth Period
Sustained expansion in bilateral trade driven by complementary economic structures, with Trinidad and Tobago leveraging its comparative advantages in petroleum oils and oils from bituminous minerals, not crude: preparations n.e.c. containing by weight 70% or more of petroleum oils or oils from bituminous minerals: these being the basic constituents of the preparations: waste oils.
2010-2015: Foundation Building
Establishment of modern trade frameworks and reduction of barriers, facilitating increased commercial exchange and investment flows between the two economies.
Pre-2010: Early Development
Initial stages of bilateral trade relationship development, with focus on traditional export-import patterns and gradual market integration.
Key Economic Drivers
Comparative Advantage
Trinidad and Tobago's specialization in petroleum oils and oils from bituminous minerals, not crude: preparations n.e.c. containing by weight 70% or more of petroleum oils or oils from bituminous minerals: these being the basic constituents of the preparations: waste oilscomplements Guyana's demand patterns, creating natural trade synergies.
Supply Chain Integration
Deep integration in global value chains has strengthened bilateral linkages, particularly in containers: (including containers for transport of fluids) specially designed and equipped for carriage by one or more modes of transport.
Market Access & Trade Policy
Favorable trade agreements and market access conditions have facilitated the growth of this $2.53B bilateral relationship.
Trade Pattern Insights
Trade Relationship Outlook
The $2.53B bilateral trade volume positions this relationship for continued growth, supported by technological advancement, evolving consumer preferences, and strengthening economic ties. Key opportunities lie in expanding cooperation in emerging sectors while managing potential supply chain vulnerabilities.
Economic Impact & Strategic Outlook
Economic Impact Assessment
Trade Volume Impact
The $2.53 billion bilateral trade volume represents a important trade relationshipfor both economies.
Industrial Integration
Trade flows in petroleum oils and oils from bituminous minerals, not crude: preparations n.e.c. containing by weight 70% or more of petroleum oils or oils from bituminous minerals: these being the basic constituents of the preparations: waste oils and containers: (including containers for transport of fluids) specially designed and equipped for carriage by one or more modes of transport demonstrate deep industrial linkages and supply chain integration.
Trade Balance Effects
Trinidad and Tobago's trade deficit of $1.28 billion impacts its overall economic position in this bilateral relationship.
Strategic Future Outlook
🚀Growth Opportunities
⚠️Risk Factors
🎯Strategic Recommendations
- Strengthen cooperation in high-value sectors beyond current trade patterns
- Develop alternative supply chains to reduce dependency risks
- Explore joint ventures in emerging technology sectors
- Enhance trade facilitation and reduce transaction costs
Market Position & Competitive Summary
The bilateral trade relationship between Trinidad and Tobago and Guyana represents a total trade volume of $2.53 billion in 2023. This partnership demonstrates an unfavorable trade balance for Trinidad and Tobago, with imports exceeding exportsby $1.28 billion.
Export Strengths
Trinidad and Tobago's exports to Guyana total $625.49 million, with competitive advantages in petroleum oils and oils from bituminous minerals, not crude: preparations n.e.c. containing by weight 70% or more of petroleum oils or oils from bituminous minerals: these being the basic constituents of the preparations: waste oils, representing $121.47M or19.4% of bilateral exports.
Import Dependencies
Imports from Guyana amount to $1.90 billion, highlighting economic interdependence in containers: (including containers for transport of fluids) specially designed and equipped for carriage by one or more modes of transport, with Containers: (including containers for transport of fluids) specially designed and equipped for carriage by one or more modes of transport comprising62.1% of total imports.
The trade relationship reflects broader economic patterns and comparative advantages. The trade deficit indicates Trinidad and Tobago's strategic sourcing from Guyana. This partnership is characterized by complementary trade flows, with each country specializing in different product categories based on their respective economic strengths, industrial capabilities, and position in global value chains.
Download Bilateral Trade Data
Access detailed trade data between Trinidad and Tobago and Guyana in multiple formats.
Data Source: CEPII BACI (Base pour l'Analyse du Commerce International) • Last Updated: January 2025 • Coverage: 1995-2023