Merchandise trade flows Ladies and Gentlemen, although bilateral trade relations between Trinidad and Tobago and India seem to have considerable potential, the hard evidence suggests that we are barely scratching the surface and are yet to see any significant expansion of actual merchandise trade flows.
Based on data from our Central Statistical Office (CSO), the merchandise trade pattern between Trinidad and Tobago and India is as follows: •  Trinidad and Tobago consistently ran a trade deficit with India, which widened from around $ million in 1998 to more than $ million in 2006;  •  Our trade deficit with India turned into a surplus of just over $ million in 2007, for the first time in 9 years, mainly due to exports of LNG, but lasted only until 2008;  2  BIS central bankers’ speeches  •  A trade deficit of about $ million re-emerged with India in 2009, principally on account of the global economic crisis; and widened to $ million in 2010, before narrowing sharply to around $ million in 2011.