Trinidad is one of the wealthiest and most developed nations in the Caribbean and is listed in the top 40 (2010 information) of the 70 High Income countries in the world. It has one of the highest GDP per capita of USD $20,300 (2011) in the Caribbean. In November 2011, the OECD removed Trinidad and Tobago from its list of Developing Countries. Trinidad's economy is strongly influenced by the petroleum industry. Tourism and manufacturing are also important to the local economy. Tourism is a growing sector, although not proportionately as important as in many other Caribbean islands. Agricultural products include citrus, cocoa, and other products.
Recent growth has been fueled by investments in liquefied natural gas (LNG), petrochemicals, and steel. Additional petrochemical, aluminum, and plastics projects are in various stages of planning. Trinidad and Tobago is the leading Caribbean producer of oil and gas, and its economy is heavily dependent upon these resources but it also supplies manufactured goods, notably food and beverages, as well as cement to the Caribbean region.
Oil and gas account for about 40% of GDP and 80% of exports, but only 5% of employment. The country is also a regional financial centre, and the economy has a growing trade surplus. The expansion of Atlantic LNG over the past six years created the largest single-sustained phase of economic growth in Trinidad and Tobago. It has become the leading exporter of LNG to the United States, and now supplies some 70% of U.S. LNG imports.
Trinidad and Tobago has transitioned from an oil-based economy to a natural gas based economy. In 2007, natural gas production averaged 4 billion cubic feet per day (110,000,000 m/d), compared with 3.2×10 cu ft/d (91,000 m/d) in 2005. In December 2005, the Atlantic LNG fourth production module or "train" for liquefied natural gas (LNG) began production. Train 4 has increased Atlantic LNG's overall output capacity by almost 50% and is the largest LNG
