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Curacao Economy 2017
https://theodora.com/wfbcurrent/curacao/curacao_economy.html
SOURCE: 2017 CIA WORLD FACTBOOK AND OTHER SOURCES











Curacao Economy 2017
SOURCE: 2017 CIA WORLD FACTBOOK AND OTHER SOURCES


Page last updated on January 12, 2017

Economy - overview:
Most of Curacao’s GDP results from services. Tourism, petroleum refining and bunkering, offshore finance, and transportation and communications are the mainstays of this small island economy, which is closely tied to the outside world. Curacao has limited natural resources, poor soil, and inadequate water supplies, and budgetary problems complicate reform of the health and education systems. Although GDP grew only slightly during the past decade, Curacao enjoys a high per capita income and a well-developed infrastructure compared with other countries in the region.Curacao has an excellent natural harbor that can accommodate large oil tankers, and the port of Willemstad hosts a free trade zone and a dry dock. Venezuelan state oil company PdVSA, under a contract in effect until 2019, leases the single refinery on the island from the government, directly employing some 1,000 people; most of the oil for the refinery is imported from Venezuela; most of the refined products are exported to the US and Asia. Almost all consumer and capital goods are imported, with the US, the Netherlands and Venezuela being the major suppliers.The government is attempting to diversify its industry and trade and has signed an Association Agreement with the EU to expand business there. In 2013, the government implemented changes to the sales tax and reformed the public pension and health care systems, including increasing the sales tax from 5% to as high as 9% on some products, raising the age for public pension withdrawals to 65, and requiring citizens to pay higher premiums.

GDP (purchasing power parity):
$3.128 billion (2012 est.) $3.02 billion (2011 est.) $2.96 billion (2010 est.)
note: data are in 2012 US dollars
country comparison to the world: 187
[see also: GDP country ranks ]

GDP (official exchange rate):
$5.6 billion (2012 est.)
[see also: GDP (official exchange rate) country ranks ]

GDP - real growth rate:
3.6% (2012 est.) 2% (2011 est.) 0.1% (2010 est.)
country comparison to the world: 69
[see also: GDP - real growth rate country ranks ]

GDP - per capita:
$15,000 (2004 est.)
country comparison to the world: 110
[see also: GDP - per capita country ranks ]

GDP - composition, by sector of origin:
agriculture: 0.7%
[see also: GDP - composition, by sector of origin - agriculture country ranks ]
industry: 15.5%
[see also: GDP - composition, by sector of origin - industry country ranks ]
services: 83.8% (2012 est.)
[see also: GDP - composition, by sector of origin - services country ranks ]

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

Industries:
tourism, petroleum refining, petroleum transshipment, light manufacturing, financial and business services

Industrial production growth rate:
NA%
[see also: Industrial production growth rate country ranks ]

Labor force:
73,010 (2013)
country comparison to the world: 184
[see also: Labor force country ranks ]

Labor force - by occupation:
agriculture: 1.2%
[see also: Labor force - by occupation - agriculture country ranks ]
industry: 16.9%
[see also: Labor force - by occupation - industry country ranks ]
services: 81.8% (2008 est.)
[see also: Labor force - by occupation - services country ranks ]

Unemployment rate:
13% (2013 est.) 9.8% (2011 est.)
country comparison to the world: 143
[see also: Unemployment rate country ranks ]

Taxes and other revenues:
16.6% of GDP (2012 est.)
country comparison to the world: 178
[see also: Taxes and other revenues country ranks ]

Budget surplus (+) or deficit (-):
-0.4% of GDP (2012 est.)
country comparison to the world: 38
[see also: Budget surplus (+) or deficit (-) country ranks ]

Public debt:
33.2% of GDP (2012 est.) 40.6% of GDP (2011 est.)
country comparison to the world: 135
[see also: Public debt country ranks ]

Inflation rate (consumer prices):
2.6% (2013 est.) 2.8% (2012 est.)
country comparison to the world: 130
[see also: Inflation rate (consumer prices) country ranks ]

Exports:
$1.607 billion (2011 est.) $1.44 billion (2010 est.)
country comparison to the world: 143
[see also: Exports country ranks ]

Exports - commodities:
petroleum products

Imports:
$1.285 billion (2011 est.) $1.275 billion (2010 est.)
country comparison to the world: 175
[see also: Imports country ranks ]

Imports - commodities:
crude petroleum, food, manufactures

Exchange rates:
Netherlands Antillean guilders (ANG) per US dollar - 1.79 (2015 est.) 1.79 (2014 est.) 1.79 (2013) 1.79 (2012 est.)

NOTE: The information regarding Curacao on this page is re-published from the 2017 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Curacao Economy 2017 information contained here. All suggestions for corrections of any errors about Curacao Economy 2017 should be addressed to the CIA.




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