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Netherlands Antilles (part of the Kingdom of the Netherlands) 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, 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 (1997 est.)

    GDP—real growth rate: -1.8% (1997)

    GDP—per capita: purchasing power parity—$11,500 (1997 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): 3.3% (1997)

    Labor force: 89,000

    Labor force—by occupation: government 65%, industry and commerce 28% (1983)

    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: 1.4 billion kWh (1996)

    Electricity—production by source:
    fossil fuel: 100%
    hydro: 0%
    nuclear: 0%
    other: 0% (1996)

    Electricity—consumption: 1.4 billion kWh (1996)

    Electricity—exports: 0 kWh (1996)

    Electricity—imports: 0 kWh (1996)

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

    Exports: $268.2 million (f.o.b., 1997)

    Exports—commodities: petroleum products 98% (1993)

    Exports—partners: US 28.6%, Honduras 6.4%, Belgium-Luxembourg 6%, Italy 4.9%, Guatemala 4.5%, Costa Rica 4% (1996)

    Imports: $1.4 billion (c.i.f., 1997)

    Imports—commodities: crude petroleum 64%, food, manufactures (1993)

    Imports—partners: Venezuela 34%, US 16.4%, Mexico 15.5%, Netherlands 5%, Italy 3.5%, Brazil 2.8% (1996)

    Debt—external: $1.35 billion (1996)

    Economic aid—recipient: $NA; note—the Netherlands provided a $97 million aid package in 1996

    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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Revised 1-Mar-99
Copyright © 1999 Photius Coutsoukis (all rights reserved)