Economy of the Netherlands Antilles

Economy of the Netherlands Antilles

Tourism, petroleum transshipment, and offshore finance are the mainstays of the Netherlands Antillean 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, the US, and Mexico being the major suppliers. Poor soils and inadequate water supplies hamper the development of agriculture.

GDP:purchasing power parity - $3 600 million (3,6 G$) (2007 est.)

GDP - real growth rate:4,0% (2007 est.)

GDP - per capita:purchasing power parity - $19 000 (2007 est.)

GDP - composition by sector:
"agriculture:"1%
"industry:"15%
"services:"84% (2007 est.)

Population below poverty line:NA%

Household income or consumption by percentage share:
"lowest 10%:"± 1,5%
"highest 10%:"± 31%

Inflation rate (consumer prices):3,0% (2007)

Labour force:83 600 (2005)

Labour force - by occupation:agriculture 1%, industry 20%, services 79% (2007 est.)

Unemployment rate:9% (2007 est.)

Budget:
"revenues:"$757,9 million
"expenditures:"$949,5 million, including capital expenditures of $NA (2004 est.)

Industries:
tourism (Curaçao, Sint Maarten, and Bonaire), petroleum refining (Curaçao), petroleum transhipment facilities (Curaçao and Bonaire), light manufacturing (Curaçao)

Industrial production growth rate:NA%

Electricity - production:1 005 GWh (2004)

Electricity - production by source:
"fossil fuel:"100%
"hydro:"0%
"nuclear:"0%
"other:"0% (1998)

Electricity - consumption:934,7 GWh (2004)

Electricity - exports:0 kWh (2004)

Electricity - imports:0 kWh (2004)

Agriculture - products:
aloes, sorghum, peanuts, vegetables, tropical fruit

Exports:$2 076 million (f.o.b., 2004)

Exports - commodities:petroleum products

Exports - partners:
US 32%, Panama 10.1%, Guatemala 7,9%, Haiti 6,4%, The Bahamas 5,1% (2005)

Imports:$4 383 billion (c.i.f., 2004)

Imports - commodities:crude petroleum, food, manufactures

Imports - partners:
Venezuela 50%, US 22,2%, Italy 5.2%, Netherlands 5% (2005)

Debt - external:$2 680 million (2004)

Economic aid - recipient:IMF provided $61 million in 2000, and the Netherlands continued its support with $40 million (2004)

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


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