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Curacao Economy 2014
http://www.theodora.com/wfbcurrent/curacao/curacao_economy.html
SOURCE: 2014 CIA WORLD FACTBOOK AND OTHER SOURCES


















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Page last updated on January 7, 2014

Economy - overview:
Tourism, petroleum refining, and offshore finance are the mainstays of this small economy, which is closely tied to the outside world. Although GDP grew slightly during the past decade, the island 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. Venezuelan state oil company PdVSA leases the single refinery on the island from the government; most of the oil for the refinery is imported from Venezuela; most of the refined products are exported to the US. Almost all consumer and capital goods are imported, with the US, Brazil, Italy, and Mexico 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. Poor soils and inadequate water supplies hamper the development of agriculture. Budgetary problems complicate reform of the health and education systems. Pension system reforms are pending. A new basic health package was implemented in 2013.

GDP (purchasing power parity):
$2.838 billion (2008 est.)
country comparison to the world: 183

$2.606 billion (2007 est.)
$2.452 billion (2006 est.)
note: data are in 2008 US dollars
[see also: GDP country ranks ]

GDP (official exchange rate):
$5.08 billion (2008 est.)
[see also: GDP (official exchange rate) country ranks ]

GDP - real growth rate:
0% (2012 est.)
country comparison to the world: 181

3.5% (2008)
2.2% (2007)
[see also: GDP - real growth rate country ranks ]

GDP - per capita:
$15,000 (2004 est.)
country comparison to the world: 90
[see also: GDP - per capita country ranks ]

GDP - composition, by sector of origin:
agriculture: 0.7%
industry: 15.5%
services: 83.8% (2012 est.)

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

Industries:
tourism, petroleum refining, petroleum transshipment facilities, light manufacturing

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

Labor force:
62,040 (2011)
country comparison to the world: 186
[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%
services: 81.8% (2008 est.)

Unemployment rate:
9.8% (2011 est.)
country comparison to the world: 104

10.3% (2008 est.)
[see also: Unemployment rate country ranks ]

Taxes and other revenues:
10.8% of GDP (2011 est.)
country comparison to the world: 207
[see also: Taxes and other revenues country ranks ]

Budget surplus (+) or deficit (-):
-0.9% of GDP (2011 est.)
country comparison to the world: 62
[see also: Budget surplus (+) or deficit (-) country ranks ]

Inflation rate (consumer prices):
2.3% (2011 est.)
country comparison to the world: 55

1.3% (2010 est.)
[see also: Inflation rate (consumer prices) country ranks ]

Exports:
$1.5 billion (2011 est.)
country comparison to the world: 145

$1.4 billion (2010 est.)
[see also: Exports country ranks ]

Exports - commodities:
petroleum products

Imports:
$2.5 billion (2011 est.)
country comparison to the world: 155

$2.648 billion (2009 est.)
[see also: Imports country ranks ]

Imports - commodities:
crude petroleum, food, manufactures

Exchange rates:
Netherlands Antillean guilders (ANG) per US dollar -

1.79 (2011)
1.79 (2011 est.)
1.79 (2010 est.)
1.79 (2009)
1.79 (2008)
note: the Netherland Antillean guilder was replaced by the newly created Caribbean guilder in 2013


NOTE: The information regarding Curacao on this page is re-published from the 2014 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Curacao Economy 2014 information contained here. All suggestions for corrections of any errors about Curacao Economy 2014 should be addressed to the CIA.



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This page was last modified 14-Feb-14
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