Inside Trinidad and Tobago’s Logistics Landscape

By Sean Galea-Pace
Manufacturing Global explores Trinidad and Tobago's logistics landscape...

Trinidad and Tobago’s geographical location at the southernmost end of the Caribbean islands positions it as a gateway to the Caribbean Community and North America. Its central location provides direct access to distribution markets in South, Central and North America. Commercial space is available in close proximity to international shipping ports that meet the needs for easy access to distribution points. Organizations can benefit from the ability to refine and streamline their supply chain offering. Setting up Third-Party Logistics here will enable businesses to benefit from efficient access to goods and services, provide ready access to international markets, decreased costs in terms of inputs and transportation as well as cost-effective, quick delivery to customers locally and regionally.Some of the key advantages include:

  • Location - The island is based at the southernmost point of the Caribbean archipelago with direct access to the Caribbean, Central and South America.
  • Upfront investment costs - Results in lower costs charged by vendors and result in tighter inventory controls and lower distribution costs.
  • Low electricity rates - Trinidad and Tobago has the lowest electricity rate in LAC.
  • Market access - As a CARICOM member, this will offer market access to 17mn with bilateral trade agreements providing businesses with access to an additional export market of around 984 million consumers.
  • Infrastructure - Trinidad and Tobago is renowned as the second most developed road network in the Caribbean and recognised as the third-best for port capacity in the English-speaking Caribbean.

According to recent reports on the logistics industry, global market size is an anticipated US$1.1bn with a CAGR of 2.7 per cent - 7 per cent expected for the five-year period up to 2022. This growth in market size is attributed to the considerable growth in the e-commerce sector, fueled by increased penetration of high-speed internet and a rise in popularity towards online shopping. The reopening of borders worldwide is thought to see an increase in shipping and logistical activities.

Interested in learning more? Click here!

Share

Featured Articles

Blockchain strengthening links in supply chain

Though use of blockchain solutions in supply chain is still relatively low, Tech Mahindra is among pioneers driving its adoption

Earthquake tech inspired Partsch to invent SCM in 1970s

In the late 1970s, physicist Dr Wolfgang Partsch - the father of supply chain management - used science as the basis for his revolutionary concept of SCM

SaaS bloat 'hitting procurement bottom lines'

Unused SaaS subscriptions are eroding procurement and supply chain bottom lines at a time when inflation means cost cutting is of paramount importance

Cold chain logistics 'flying blind' - Tive & FreightWaves

Technology

Logistics innovation 'hampered by C-suite, cash & staffing'

Digital Supply Chain

Biden appoints new supply chain risk cyber chief

Supply Chain Risk Management