The economy of Trinidad is based on natural gas and oil. Recent growth has been fueled by investments in liquefied natural gas (LNG), petrochemicals, and steel. 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.
Port of Spain is the capital of the Republic of Trinidad and Tobago. Port of Spain is Trinidad and Tobago's most developed city. The city serves primarily as a retail and administrative center.
Port-of-Spain has an overall cost of living index which equates it with high cost of living locations. The overall cost of living index is comprised of the prices for defined quantities of the same goods and services across all 13 Basket Groups.
The latest cost of living rank for each of the 13 Basket Groups is now available.