Business View CARIBBEAN
7
recorded for the period.
The Balance of Payments is projected to record a sur-
plus of US$786.3 million in 2013, a vast improvement
from the deficit of US$622.0 million for 2012. This
surplus reflects the positive expansion in the external
current account balance which improved by 173.7 per-
cent due mainly to an improvement in the services ac-
count. The improvement in the deficit on the capital
account recorded in 2012 was reversed as the deficit
expanded by 14.3 percent to US$1,785.2 million.
The balance of visible trade declined by 33.0 percent
over the period April 2013 to May 2014, as compared
to the previous comparative period as exports de-
clined and imports marginally expanded. However, the
balance of trade excluding mineral fuels declined by
11.2 percent to TT$3,203.4 million for the period.
Trinidad and Tobago’s gross official reserves expand-
ed by 11.0 percent to US$10,219.8 million at the end
of July 2014, representing 12.0 months of prospective
imports of goods and non-factor services.
