Netherlands Antilles Economy Profile 2010

Economy - overview

Tourism, petroleum refining, and offshore finance are the mainstays of this small economy, which is closely tied to the outside world. Although GDP has declined or grown slightly in each of the past eight years, the islands enjoy a high per capita income and a well-developed infrastructure compared with other countries in the region. The Venezuelan state oil company owns the single refinery on the island; most of the oil for the refinery is imported from Venezuela. Almost all consumer and capital goods are imported, the US, Italy, and Mexico being the major suppliers. Poor soils and inadequate water supplies hamper the development of agriculture. Budgetary problems hamper reform of the health and pension systems of an aging population. The Netherlands provides financial aid to support the economy.

GDP (purchasing power parity)

$2.8 billion (2004 est.)

GDP (official exchange rate)

$NA

GDP - real growth rate

1% (2004 est.)

GDP - per capita (PPP)

$16,000 (2004 est.)

GDP - composition by sector

agriculture: 1%
industry: 15%
services: 84% (2000 est.)

Population below poverty line

NA%

Labor force

91,470 (2007)

Labor force - by occupation

agriculture: 1%
industry: 20%
services: 79% (2005 est.)

Unemployment rate

15.5% (2002 est.)

Household income or consumption by percentage share

lowest 10%: NA%
highest 10%: NA%

Budget

revenues: $757.9 million
expenditures: $949.5 million (2004)

Inflation rate (consumer prices)

2.1% (2003 est.) est.)

Central bank discount rate

NA% (31 December 2008)

Commercial bank prime lending rate

8.33% (31 December 2008)
9.21% (31 December 2007)

Stock of money

$NA (31 December 2008)
$997.8 million (31 December 2007)

Stock of quasi money

$NA (31 December 2008)
$2.309 billion (31 December 2007)

Stock of domestic credit

$NA (31 December 2008)
$2.927 billion (31 December 2007)

Industries

tourism (Curacao, Sint Maarten, and Bonaire), petroleum refining (Curacao), petroleum transshipment facilities (Curacao and Bonaire), light manufacturing (Curacao)

Industrial production growth rate

NA%

Electricity - production

1.22 billion kWh (2007 est.)

Electricity - production by source

fossil fuel: 100%
hydro: 0%
nuclear: 0%
other: 0% (2001)

Electricity - consumption

1.013 billion kWh (2007 est.)

Electricity - exports

0 kWh (2008 est.)

Electricity - imports

0 kWh (2008 est.)

Oil - production

0 bbl/day (2008 est.)

Oil - consumption

71,000 bbl/day (2008 est.)

Oil - imports

298,500 bbl/day (2007 est.)

Oil - exports

224,600 bbl/day (2007 est.)

Oil - proved reserves

0 bbl (1 January 2009 est.)

Natural gas - production

0 cu m (2008 est.)

Natural gas - consumption

0 cu m (2008 est.)

Natural gas - exports

0 cu m (2008 est.)

Natural gas - imports

0 cu m (2008 est.)

Natural gas - proved reserves

0 cu m (1 January 2009 est.)

Agriculture - products

aloes, sorghum, peanuts, vegetables, tropical fruit

Exports

$3.71 billion (2006)

Exports - commodities

petroleum products

Exports - partners

US 18.8%, Guatemala 10.4%, Dominican Republic 9.2%, Haiti 7.3%, Singapore 6.6%, Bahamas, The 5.8%, Italy 4.4%, Honduras 4.4%, Mexico 4% (2008)

Imports

$15.74 billion (2006)

Imports - commodities

crude petroleum, food, manufactures

Imports - partners

Venezuela 59.6%, US 19.3%, Brazil 4.7% (2008)

Debt - external

$2.68 billion (2004)

Stock of direct foreign investment - at home

$NA

Stock of direct foreign investment - abroad

$NA

Market value of publicly traded shares

$NA (31 December 2008)
$488.6 billion (2003)

Currency (code)

Netherlands Antillean guilder (ANG)

Exchange rates

Netherlands Antillean guilders (ANG) per US dollar - NA (2007), 1.79 (2006), 1.79 (2005), 1.79 (2004), 1.79 (2003)

Fiscal year

calendar year