Port of Spain is the capital of Trinidad and Tobago and the country's third largest municipality, after Chaguanas and San Fernando. The city has a municipal population of 49,031 (2000 census) and a metropolitan population of 128,026 (1990 estimate) residents. It is located on the Gulf of Paria, on the northwest coast of the island of Trinidad.
The city serves primarily as a retail and administrative center. It also serves as a financial services center and is home to two of the largest banks in the Caribbean. It is one of the major shipping hubs of the Caribbean, with exports of agricultural products and asphalt. Bauxite from the Guianas and iron ore from Venezuela are trans-shipped via facilities at Chaguaramas, about five miles (8 km) west of the city. The tallest building in Port of Spain (and country as a whole) is the 21-storey Nicholas Tower; the proposed Waterfront International Project is slated to include a 26-story office tower.