Curacao Economy - 2023

GEOGRAPHICAL NAMES 

Economic overview

high-income island economy; developed infrastructure; tourism and financial services-based economy; investing in information technology incentives; oil refineries service Venezuela and China; unique COVID-19 stimulus support applied to government debts rather than household support

Real GDP (purchasing power parity)

$3.167 billion (2021 est.) note: data are in 2017 dollars

$3.038 billion (2020 est.) note: data are in 2017 dollars

$3.725 billion (2019 est.)

Real GDP growth rate

4.23% (2021 est.)

-18.44% (2020 est.)

-3.37% (2019 est.)

Real GDP per capita

$20,800 (2021 est.) note: data are in 2017 dollars

$19,600 (2020 est.) note: data are in 2017 dollars

$23,700 (2019 est.)

GDP (official exchange rate)

$5.6 billion (2012 est.)

Inflation rate (consumer prices)

2.62% (2019 est.)

2.58% (2018 est.)

1.59% (2017 est.)

GDP - composition, by sector of origin

agriculture: 0.7% (2012 est.)

industry: 15.5% (2012 est.)

services: 83.8% (2012 est.)

GDP - composition, by end use

household consumption: 66.9% (2016 est.)

government consumption: 33.6% (2016 est.)

investment in fixed capital: 19.4% (2016 est.)

investment in inventories: 0% (2016 est.)

exports of goods and services: 17.5% (2016 est.)

imports of goods and services: -37.5% (2016 est.)

Agricultural products

aloe, sorghum, peanuts, vegetables, tropical fruit

Industries

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

Industrial production growth rate

N/A

Labor force

73,010 (2013)

Labor force - by occupation

agriculture: 1.2%

industry: 16.9%

services: 81.8% (2008 est.)

Unemployment rate

13% (2013 est.)

9.8% (2011 est.)

Youth unemployment rate (ages 15-24)

total: 42.2%

male: 38.1%

female: 47.1% (2020 est.)

Budget surplus (+) or deficit (-)

-0.4% (of GDP) (2012 est.)

Public debt

33.2% of GDP (2012 est.)

40.6% of GDP (2011 est.)

Taxes and other revenues

16.6% (of GDP) (2012 est.)

Current account balance

-$596.437 million (2021 est.)

-$688.805 million (2020 est.)

-$540.731 million (2019 est.)

Exports

$1.28 billion (2021 est.)

$1.014 billion (2020 est.)

$1.775 billion (2019 est.)

note: Data are in current year dollars and do not include illicit exports or re-exports.

Exports - partners

Switzerland 27%, United States 17%, Spain 14%, Ecuador 7%, India 7%, Antigua and Barbuda 5% (2019)

Exports - commodities

refined petroleum, crude petroleum, petroleum coke, frozen fish, fishing ships (2021)

Imports

$1.915 billion (2021 est.) note: data are in current year dollars

$1.709 billion (2020 est.) note: data are in current year dollars

$2.331 billion (2019 est.)

Imports - partners

United States 35%, Netherlands 24%, China 5% (2019)

Imports - commodities

refined petroleum, cars, crude petroleum, packaged medicines, perfumes (2019)

Reserves of foreign exchange and gold

$0 (31 December 2017 est.)

Exchange rates

Netherlands Antillean guilders (ANG) per US dollar -

1.79 (2021 est.)

1.79 (2020 est.)

1.79 (2019 est.)

1.79 (2018 est.)

1.79 (2017 est.)

NOTE: The information regarding Curacao on this page is re-published from the 2023 World Fact Book of the United States Central Intelligence Agency and other sources. No claims are made regarding the accuracy of Curacao 2023 information contained here. All suggestions for corrections of any errors about Curacao 2023 should be addressed to the CIA or the source cited on each page.