Trinidad and Tobago: full speed ahead.

Trinidad and Tobago's economy is growing, and energy exports are fueling that growth. Since 1996, Latin America has ridden a roller coaster of economic expansion and financial shockwaves including the Asian crisis, Brazil's devaluation and Argentina's default. While few have escaped recession, the Caribbean nation of Trinidad and Tobago's economy has grown every year.

And it seems like the best is yet to come. The United Nations Economic Commission for Latin America and the Caribbean says Trinidad and Tobago's economy will grow 6% in 2004 from 2003, more than any other year since 1996. Growth is expected to hit 9.1% in 2005, and all that is possible thanks to hefty energy exports.

Trinidad and Tobago is a large producer of oil derivatives and natural gas, commodities whose prices have been on the upswing in recent years. In 2003, when the economy grew 4.1%, the energy sector grew a robust 12.9%, and industries have taken note. U.S. aluminum producer Alcoa says it might build a US$1 billion aluminum plant on the island, of which Trinidad and Tobago will own 40%. Aluminum production relies heavily on electricity to produce, and Trinidad and Tobago's oil and natural gas refineries can ensure resources necessary to generate electricity for such a plant.

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