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    Netherlands Antilles Economy - 1989

      Overview: Tourism, petroleum refining, and offshore finance are the mainstays of the economy. The islands enjoy a comparatively high per capita income and a well-developed infrastructure compared with other countries in the region. Unlike many Latin American countries, the Netherlands Antilles has avoided large international debt. Almost all consumer and capital goods are imported, with the US being the major supplier. The economy has suffered somewhat in recent years because of the depressed state of the world oil market and declining tax revenues. In 1983 the drop in oil prices led to the devaluation of the Venezuelan bolivar, which ended a substantial flow of Venezuelan tourists to the islands. As a result of a decline in tax revenues, the government has been seeking financial support from the Netherlands.

      GDP: $1.2 billion, per capita $6,460; real growth rate - 2.1% (1985)

      Inflation rate (consumer prices): 3.8% (1987)

      Unemployment rate: 8% (1987)

      Budget: revenues $180 million; expenditures $289 million, including capital expenditures of $NA (1987 est.)

      Exports: $82.4 million (f.o.b., 1987); @m5commodities--petroleum products 98%; @m5partners--US 55%, UK 7%, Jamaica 5%

      Imports: $1,100 million (c.i.f., 1987); @m5commodities--crude petroleum 64%, food, manufactures; @m5partners--Venezuela 52%, Nigeria 15%, US 12%

      External debt: $701.2 million (December 1987)

      Industrial production: growth rate NA%

      Electricity: 125,000 kW capacity; 365 million kWh produced, 2,000 kWh per capita (1988)

      Industries: tourism (Curacao and Sint Maarten), petroleum refining (Curacao), petroleum transshipment facilities (Curacao and Bonaire), light manufacturing (Curacao)

      Agriculture: corn, pulses

      Aid: Western (non-US) countries, ODA and OOF bilateral commitments (1970-79), $353 million

      Currency: Netherlands Antillean guilder, gulden, or florin (plural--guilders, gulden, or florins); 1 Netherlands Antillean guilder, gulden, or florin (NAf.) = 100 cents

      Exchange rates: Netherlands Antillean guilders, gulden, or florins (NAf.) per US$1--1.80 (fixed rate since 1971)

      Fiscal year: calendar year

      NOTE: The information regarding Netherlands Antilles on this page is re-published from the 1989 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Netherlands Antilles Economy 1989 information contained here. All suggestions for corrections of any errors about Netherlands Antilles Economy 1989 should be addressed to the CIA.

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    Revised 15-Apr-03
    Copyright © 2003 Photius Coutsoukis (all rights reserved)