T&T’s retail and distribution sector is the “most voracious consumer of foreign exchange”, says Central Bank Governor Jwala Rambarrran. That sector alone gobbled up US$4.5 billion or nearly one third of the total foreign exchange sold over the past three years.
In his address at the Fifth Monetary Policy Forum at the Hyatt Regency, Port-of-Spain, Rambarran identified the top users of foreign exchange in the country over the last three years. They are as follows:
Top Five Users in Retail and Distribution
• PriceSmart - US$507 million
• Courts - US$198 million
• Smith Robertson & Company - US$169 million
• AS Bryden - US$153 million
• Massy Distribution - US$136 million
Top Five Users in Manufacturing
• Nestle - US$194 million
• Witco - US$129 million
• Carib - US$107 million
• National Flour Mills - US$102 million
• Caribbean Bottlers (Coca Cola) - US$94 million
Top Five Users in Automobile Dealerships
• Southern Sales - US$275 million
• Massy Motors - US$251 million
• Toyota - US$245 million
• Diamond Motors - US$59 million
• Lifestyle Motors - US$36 million
Top Three Users in Telecommunications
• TSTT - US$294 million
• Digicel - US$263 million
• Columbus Communications - US$250 million
