Netherlands Antilles Economy 2001

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.)

Population below poverty line: NA%

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

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)

Industrial production growth rate: NA%

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)

Electricity - exports: 0 kWh (1999)

Electricity - imports: 0 kWh (1999)

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

Exports: $276 million (f.o.b., 2000)

Exports - commodities: petroleum products

Exports - partners: US 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%, US 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)

Currency code: ANG

Exchange rates: Netherlands Antillean guilders per US dollar - 1.790 (fixed rate since 1989)

Fiscal year: calendar year

NOTE: The information regarding Netherlands Antilles on this page is re-published from the 2001 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Netherlands Antilles Economy 2001 information contained here. All suggestions for corrections of any errors about Netherlands Antilles Economy 2001 should be addressed to the CIA.