Netherlands Antilles Economy 2008

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. Most of the oil Netherlands Antilles imports for its refineries come from Venezuela. Almost all consumer and capital goods are imported, the US 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.

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.)

Labor force:
83,600 (2005)

Labor force - by occupation:
agriculture: 1%
industry: 20%
services: 79% (2005 est.)

Unemployment rate:
17% (2002 est.)

Population below poverty line:
NA%

Household income or consumption by percentage share:
lowest 10%: NA%
highest 10%: NA%

Inflation rate (consumer prices):
2.1% (2003 est.)

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

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

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:
1.175 billion kWh (2005)

Electricity - consumption:
891 million kWh (2005)

Electricity - exports:
0 kWh (2005)

Electricity - imports:
0 kWh (2005)

Oil - production:
0 bbl/day (2005 est.)

Oil - consumption:
68,000 bbl/day (2005 est.)

Oil - exports:
217,800 bbl/day (2004)

Oil - imports:
282,500 bbl/day (2004)

Oil - proved reserves:
0 bbl (1 January 2006 est.)

natural gas - production:
0 cu m (2005 est.)

natural gas - consumption:
0 cu m (2005 est.)

natural gas - exports:
0 cu m (2005 est.)

natural gas - imports:
0 cu m (2005)

natural gas - proved reserves:
0 cu m (1 January 2006 est.)

Exports:
$3.71 billion f.o.b. (2006)

Exports - commodities:
petroleum products

Exports - partners:
US 28.5%, Panama 12%, Mexico 9.4%, Haiti 5.6%, Singapore 5.1%, Bahamas, The 4.5% (2006)

Imports:
$15.74 billion f.o.b. (2006)

Imports - partners:
Venezuela 71.2%, US 10.4%, Italy 3.7% (2006)

Economic aid - recipient:
$21.32 million
note: IMF provided $61 million in 2000, and the Netherlands continued its support with $40 million (2004)

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:
$488.6 billion (2003)

Currency (code):
Netherlands Antillean guilder (ANG)

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