ranging from small to large, engaged in the local printing and packaging industry. Printing and packaging is integral to the manufacturing sector and other industries and services, for example, food, advertising and education. Since 1999 the industry has contributed 3.0% annually to the country’s GDP and it is currently earmarked by the government as an area for further development. Although the printing subsector accounts for the largest number of firms, the plastic packaging subsector has over 77% of the firms in the medium to large categories.
PRINTING AND PACKAGING Conversely, despite the challenges of the global economy there has been growth in the printing and packaging industry. This may be driven by growing urbanisation and rapid development in emerging economies such as China, Brazil and some Eastern European countries where an increase in personal disposable income is fuelling consumption across a broad range of products. Studies show that there is more demand for rigid plastic packaging in the areas of drinks, cosmetics, toiletries and household and personal care products. Additionally, flexible plastic packaging materials are getting a boost from perishable foods, healthcare and various industrial markets. According to the 2011 Guide to Investing in Trinidad and Tobago published by the Evolving TecKnologies and Enterprise Development Company Limited (eTecK), “Trinidad and Tobago is regarded as a leader in CARICOM and the wider Caribbean with respect to its competitiveness in printed products, packaging fabrication, usage and design, which resulted in increased market share over the years. Exporters in this industry have also managed to penetrate extra-regional markets such as South Florida, Costa Rica and Mexico.” Currently there are approximately 225 companies,
Despite the challenges of the global
Fast Facts Number of Fixed Internet Subscriptions
economy there has been growth in the printing and packaging industry. Since 1999 the industry has contributed 3% annually to the country’s GDP and it is currently earmarked by Government as an area for further development. It is also envisaged that the market value of paper and board packaging will grow. The inherent characteristics of this type of material make it less expensive and easier to use, as well as being ecologically viable because it is recyclable. Plastic packaging is also expected to grow in volume and value because of its flexibility, as form-fill seal applications become more common among manufacturers. Metal packaging also has growth potential, for example, in the use of material for self-cooling and heating, as well as embossed shaped cans. Similarly with glass packaging, there is expected to be growth in conjunction with developments in the alcoholic beverage and food sectors.
2010: $670 billion Metal
Glass
MEDIA, PUBLISHING AND PRINT
channels? As yet there is no countrywide comparison tracking but a quick glimpse at the audited accounts for the bigger media houses show One Caribbean Media with a 5% decline in profit, from $474 million in 2010 to $451 million in 2011. Guardian Media Limited also experienced a downward shift between their 2010 and 2011 profits, going from $186 million to $185 million. This may be attributed to a spike due to revenues earned from election advertising in 2010 but nonetheless, this trend is not limited to Trinidad and Tobago.
Other
2016: $820 billion
Flexible
Metal
Glass
Other
Flexible
Q4 2010 to Q4 2011 Narrowband Fixed Internet Subscriptions Total Subscriptions
Broadband Fixed Internet Subscriptions Total Subscriptions
Dec 2010 - 171
Dec 2011 – 192
Board
Rigid plastic
Board
Rigid plastic
Global packaging sales by type 2010 vs 2016 (Source Smithers Pira )
155