Economy

Economy—overview: Tourism petroleum transshipment and offshore finance are the mainstays of this small economy which is closely tied to the outside world. The islands enjoy a high per capita income and a well-developed infrastructure as compared with other countries in the region. Almost all consumer and capital goods are imported with Venezuela and the US being the major suppliers. Poor soils and inadequate water supplies hamper the development of agriculture.

GDP: purchasing power parity—$2.4 billion (1997 est.)

GDP—real growth rate: -1.3% (1997 est.)

GDP—per capita: purchasing power parity—$11 500 (1997 est.)

GDP—composition by sector:

agriculture: 1%

industry: 15%

services: 84% (1996 est.)

Inflation rate—consumer price index: 3.6% (1997)

Labor force:

total: 89 000

by occupation: government 65% industry and commerce 28% (1983)

Unemployment rate: 12.8% (1993)

Budget:

revenues: $277 million

expenditures: $322 million including capital expenditures of $14 million (1996 est.)

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—capacity: 200 000 kW (1995)

Electricity—production: 840 million kWh (1995)

Electricity—consumption per capita: 4 128 kWh (1995)

Agriculture—products: aloes sorghum peanuts vegetables tropical fruit

Exports:

total value: $NA

commodities: petroleum products 98% (1993)

partners: US 39% Brazil 9% Colombia 6% (1993)

Imports:

total value: $1.4 billion (f.o.b. 1996 est.)

commodities: crude petroleum 64% food manufactures (1993)

partners: Venezuela 26% US 18% Colombia 6% Netherlands 6% Japan 5% (1993)

Debt—external: $1.95 billion (December 1995)

Economic aid:

recipient: ODA $NA; the Netherlands Antilles received a $97 million Dutch aid package in 1996 making it the Netherlands' second largest aid recipient behind India

Currency: 1 Netherlands Antillean guilder gulden or florin (NAf.) = 100 cents

Exchange rates: Netherlands Antillean guilders gulden or florins (NAf.) per US$1 - 1.790 (fixed rate since 1989)

Fiscal year: calendar year