Economy of the Netherlands Antilles

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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 slightly in each of the past five years, 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 - $2.4 billion (2000 est.)
GDP - real growth rate: -3.5% (2000 est.)
GDP - per capita: purchasing power parity - $11,400 (2000 est.)
GDP - composition by sector:
agriculture: 1%
industry: 15%
services: 84% (1996 est.)
Inflation rate (consumer prices): 6.4% (2000 est.)
Labor force: 89,000
Labor force - by occupation: agriculture 1%, industry 13%, services 86% (1994 est.)
Unemployment rate: 14.9% (1998 est.)
Budget:
revenues: $710.8 million
expenditures: $741.6 million, including capital expenditures of $NA (1997 est.)
Industries: tourism (Curacao, Sint Maarten, and Bonaire), petroleum refining (Curacao), petroleum transshipment facilities (Curacao and Bonaire), light manufacturing (Curacao)
Electricity - production: 1.11 billion kWh (1999)
Electricity - production by source:
fossil fuel: 100%
hydro: 0%
nuclear: 0%
other: 0% (1999)
Electricity - consumption: 1.032 billion kWh (1999)
Agriculture - products: aloes, sorghum, peanuts, vegetables, tropical fruit
Exports: $276 million (f.o.b., 2000)
Exports - commodities: petroleum products
Exports - partners: United States 17.5%, Guatemala 8%, Costa Rica 6.5%, The Bahamas 4.6%, Jamaica 4.1%, Chile 3.4% (1998)
Imports: $1.5 billion (f.o.b., 2000)
Imports - commodities: crude petroleum, food, manufactures
Imports - partners: Venezuela 35.3%, United States 21%, Mexico 9.8%, Italy 5.4%, Netherlands 4.8%, Brazil 3.1% (1998)
Debt - external: $1.35 billion (1996)
Economic aid - recipient: IMF provided $61 million in 2000, and the Netherlands continued its support with $40 million.
Currency: Netherlands Antillean guilder (ANG)

SOURCE: The World Factbook

Mother Earth Travel > Country Index > Netherlands Antilles > Map Economy