Curacao Economy - 2024

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)

Unemployment rate

13% (2013 est.)
9.8% (2011 est.)

Youth unemployment rate (ages 15-24)

total: 42.2% (2020 est.)

male: 38.1%

female: 47.1%

Remittances

5.24% of GDP (2020 est.)
5.88% of GDP (2019 est.)
5.14% of GDP (2018 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 -

Exchange rates:
1.79 (2021 est.)
1.79 (2020 est.)
1.79 (2019 est.)
1.79 (2018 est.)
1.79 (2017 est.)