Trinidad and Tobago became a gasbased economy 18 years ago in 1996. Last year, we produced about nine times more natural gas than crude oil on an energy equivalent basis. A large portion of our energy production and exports are natural gas-based. At Central Bank, we estimate natural gas now contributes roughly 70 percent to Government revenue and oil the remaining 30 percent.
The average decline in the percentage of people below the poverty line over the period 1993-94 to 2004-05 is 0.74 percentage points per year. India has ranked 126th, in terms of human development index (HDI) according to the UNDP Human Development Report, 2006.