Professional Documents
Culture Documents
Fish are abundant in the warm waters of the Caribbean and have always been an important
source of food. All countries in the Caribbean have developed small scale fishing industries and
freshly caught fish such as flying fish and Mahi Mahi are popular items in restaurants.
Fishing occurs throughout the year in the Caribbean. Over 10,000 persons are employed in
Guyana and several thousand persons are employed in Barbados and Trinidad and Tobago.
- BLACK GOLD IN THE CARIBEAN – Crude oil is one of the world’s most valuable natural
resources. For this reason, it is sometimes known as black gold. Trinidad and Tobago is fortunate
in having large reserves of both crude oil and natural gas, which explains why it is one of the
wealthiest countries in the Caribbean.
The extraction of crude oil and natural gas is a good example of a primary industry. Once
extracted, the oil is used to make gasoline, diesel and kerosene. The gas is used both as a fuel to
generate electricity and as raw material in the manufacture of plastics and fertilizers, which are
secondary industries.
IMPORTANCE OF CRUDE OIL AND NATURAL GAS
The oil and gas industry is extremely important to the economy of Trnidad and Tobago. It brings
in over 70% of the country’s foreign exchange and accounts for 23% of gross domestic product
(GDP). It has fueled massive growth in the country’s economy and has provided many with a
good standard of life.
There are several other benefits:
- over 20,000 persons are directly employed by the oil and gas industry and many thousands are
employed in other related industries
- Trinidad and Tobago has invested money in other industries, such as large steelwork.
- there is an extensive network of gas pipelines providing a reliable supply of energy throughout
the country.
- Money has been invested in services such as education, health and in road building
CHALLENGES FOR THE FUTURE
Oil and gas are examples of non-renewable resources. They are not being formed today and,
therefore, the resources that currently exist are finite. While Trinidad and Tobago has reserves to
last through to at least 2050, eventually, exploitation will prove to be too expensive. Alternative
activities will need to be developed to maintain economic growth.
CHALLENGES
The garment industry in Puerto – Rico faces three major challenges:
1. Competition from cheaper products produced in Mexico, South Korea, Taiwan and Hong
Kong where labour costs are lower.
2. The need to update factories with modern machinery. A new factory has opened recently
in Quebradillas where high tech equipment is expected to produce 2.5 million sweaters a
year.
3. At present, textile factories that produce the raw materials for the garment industry ( such
as cotton, dyes and fabrics) tend to export their products to the USA rather than selling
them to garment industries within Puerto –Rico. Transport costs and the need for imports
could be cut in future if these products were sold to local firms instead.
LOCATION OF FOOD PROCESSING FACTORIES - There are two main types of location:
1. In food producing areas, such as sugar cane, cocoa and cattle. This is because the raw
materials are bulky and expensive to transport. They may also be perishable and need
rapid processing once harvested.
2. In coastal sea ports/towns where there is a nearby workforce, a large local market ad
opportunities for exporting the finished products. Most food processing plants in the
Caribbean import the ingredients in bulk and package them near the port.
RECENT TRENDS
The industry has attracted considerable foreign investment. Nissin from Japan produces noodles
in its factory in Tai Po industrial Estate and is the leading producer of instant noodles in the
territory.
One of the reasons for the rapid growth of Hong Kong’s food processing sector is its strict food
hygiene standards. The high level of food safety gives Hong Kong the edge over food produced
on mainland China.
Changes in Chinese market including the expansion of supermarkets, rising incomes and
adoption of more Western Lifestyles have led to an increased demand for processed food items
in recent years.
FUTURE CHALLENGES
The industry needs to be constantly adapting to changes in the Chinese Market. With
people living longer and more women choosing to follow careers, there is less time for
food preparation and shopping. Customers re increasingly looking to buy ready meals
and frozen products.
There is an increasing demand for ethnic Asian items involving rice, coconut milk, ginger
and curry spices.
Demands are increasing for healthy products, such as low cholesterol dairy products, as
well as low sugar and low salt items. Many companies are producing healthy options as
part of their increasing range. Demand for energy drink has also soared in recent years.