The economy of Saint Martin centers on tourism with 85% of the labor force engaged in this sector. Over one million visitors come to the island each year with most arriving through the Princess Juliana International Airport in Sint Maarten. The financial sector is also important to Saint Martin's economy as it facilitates financial mediation for its thriving tourism sector. No significant agriculture and limited local fishing means that almost all food must be imported. Energy resources and manufactured goods are also imported, primarily from Mexico and the US. Saint Martin is reported to have one of the highest per capita income in the Caribbean. As with the rest of the Caribbean, Saint Martin's financial sector is having to deal with losing correspondent banking relationships.
In September 2017, Hurricane Irma destroyed 95% of the French side of Saint Martin. Along the coastline of Marigot, the nerve center of the economy, the storm wiped out restaurants, shops, banks and open-air markets impacting more than 36,000 inhabitants.
The economy of Sint Maarten centers around tourism with nearly four-fifths of the labor force engaged in this sector. Nearly 1.8 million visitors came to the island by cruise ship and roughly 500,000 visitors arrived through Princess Juliana International Airport in 2013. Cruise ships and yachts also call on Sint Maarten's numerous ports and harbors. Limited agriculture and local fishing means that almost all food must be imported. Energy resources and manufactured goods are also imported. Sint Maarten had the highest per capita income among the five islands that formerly comprised the Netherlands Antilles.
GDP (purchasing power parity)
$561.5 million (2005 est.)
$1.436 billion (2018 est.)
$1.538 billion (2017 est.)
$365.8 million (2014 est.)
note: data are in 2014 US dollars
GDP - per capita (PPP)
$19,300 (2005 est.)
$35,342 (2018 est.)
$37,914 (2017 est.)
$66,800 (2014 est.)
note: data are in 2015 US dollars
GDP - composition by sector
agriculture: 1% (2000)
industry: 15% (2000)
services: 84% (2000)
agriculture: 0.4% (2008 est.)
industry: 18.3% (2008 est.)
services: 81.3% (2008 est.)
Labor force
17,300 (2008 est.)
23,200 (2008 est.)
Labor force - by occupation
85 directly or indirectly employed in tourist industry
agriculture: 1.1%
industry: 15.2%
services: 83.7% (2008 est.)
Industries
tourism, light industry and manufacturing, heavy industry
tourism, light industry
Exports - commodities
gold, special use vessels, furniture, scrap aluminum, rum (2019)
sugar
Exchange rates
euros (EUR) per US dollar -
0.885 (2017 est.)
0.903 (2016 est.)
0.9214 (2015 est.)
0.885 (2014 est.)
0.7634 (2013 est.)
Netherlands Antillean guilders (ANG) per US dollar -
