As a small producer, Trinidad and Tobago does not have the clout to directly influence global energy prices. With the bulk of exports derived from energy, or energy-based products, the balance of payments and fiscal operations move largely to the rhythm of externally determined prices.
Between 2000 and 2015, energy exports accounted for 83 per cent of export values, while taxes on the energy sector made up 39 1  The Intergovernmental Group of Twenty-Four on International Monetary Affairs and Development (G-24) coordinates the position of developing countries in the deliberations and decisions of the International Monetary Fund and World Bank.