Trinidad and Tobago’s services sector must do more to translate its domestic strength into export earnings.
That’s according to Permanent Secretary in the Ministry of Trade, Investment and Tourism Abigail Bynoe, as she addressed the T&T Coalition of Services Industries’ National Services Week 2026.
PS Bynoe said while Trinidad and Tobago’s services sector is a major contributor to the national economy, more must be done to convert that strength into export earnings.
She highlighted the sector’s significant contribution to economic activity, while noting that its export performance remains relatively modest.
“Services generated 59.2% of our GDP in 2024, yet the latest data place services exports at approximately US$1.27 billion. Only about 11 cents in every Trinidad and Tobago dollar earns from exports, services exports. Our strength in services at home has not yet been fully converted into export strength abroad.”
She noted that while traditional services continue to dominate exports, digital services are becoming an increasingly important growth area.
“Transport and travel currently account for approximately three quarters of our services export receipts. At the same time digital deliverable services are emerging, and we will hear much more about that, I’m sure, as a powerful frontier. Their estimated export value rose from US$162 million in 2020 to US$304 million in 2022.”
The Permanent Secretary said the Ministry has adopted a targeted approach to expanding the sector’s export capacity.
“Services must be deliberately identified, developed and taken to market. The Ministry has mapped eight key services sectors that are projected to contribute US$276.7 million in export earnings over the next two years.”
Among the sectors identified for growth are the creative industries, energy services and the maritime sector.
She also pointed to the upcoming SailClear initiative as one example of efforts to strengthen Trinidad and Tobago’s maritime services offering.
“In the yachting sector, SailClear, coming soon, is designed to reduce yacht clearance processing from approximately four hours to about 15 minutes. You know, we identify the maritime sector as a services segment to grow. We sit below the hurricane belt, there is enormous potential there for us, all of our boatyards, etc.”
National Services Week began on Sunday, September 6th, and runs until Saturday, September 12th.