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Economy of the Netherlands Antilles

From Academic Kids

Tourism, petroleum transhipment, 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 - $2.4 billion (2.4 G$) (1998 est.)

GDP - real growth rate: -0.3% (1998 est.)

GDP - per capita: purchasing power parity - $11,800 (1998 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): 1.1% (1998)

Labour force: 89,000

Labour 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 (Curaçao, Sint Maarten, and Bonaire), petroleum refining (Curaçao), petroleum transhipment facilities (Curaçao and Bonaire), light manufacturing (Curaçao)

Industrial production growth rate: NA%

Electricity - production: 1.02 TWh (1998)

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

Electricity - consumption: 949 GWh (1998)

Electricity - exports: 0 kWh (1998)

Electricity - imports: 0 kWh (1998)

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

Exports: $303 million (f.o.b., 1998)

Exports - commodities: petroleum products 98% (1993)

Exports - partners: US 17.5%, Guatemala 8%, Costa Rica 6.5%, The Bahamas 4.6%, Jamaica 4.1%, Chile 3.4% (1998)

Imports: $1.3 billion (c.i.f., 1998)

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

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: $NA; note - 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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