Region: Caribbean

Capital: Willemstad (on Curacao)

Population: 227,049 (U.S. Department of State, 2009)

Surface area: 960 sq km

Currency: Netherlands Antillean guilder (ANG)

GDP per capita: Purchasing power parity US $17,800. (U.S. State Department of State, 2005)

 

Background:
Once the center of the Caribbean slave trade, the island of Curacao was hard hit by the abolition of slavery in 1863. Its prosperity (and that of neighboring Aruba) was restored in the early 20th century with the construction of oil refineries to service the newly discovered Venezuelan oil fields. The island of Saint Martin is shared with France; its southern portion is named Sint Maarten and is part of the Netherlands Antilles; its northern portion, called Saint Martin, is an overseas collectivity of France.

 

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 has declined or grown slightly in each of the past eight years, the islands enjoy a high per capita income and a well-developed infrastructure compared with other countries in the region. Most of the oil Netherlands Antilles imports for its refineries come from Venezuela. Almost all consumer and capital goods are imported, the US, Italy, and Mexico being the major suppliers. Poor soils and inadequate water supplies hamper the development of agriculture. Budgetary problems hamper reform of the health and pension systems of an aging population. The Netherlands provides financial aid to support the economy.

Major Export Commodities: petroleum products

 

Remittances: Not available

Human Development Index 2011 ranking: Not ranked

Official Development Assistance and Major Development Partners: Not available

Total External Debt: US $2.68 billion (2004)

Life Expectancy At Birth: 76.03 years

 

Sources:

CIA World Factbook. Central Intelligence Agency. www.cia.gov 

World Development Indicators. World Bank www.worldbank.org

Development, Recipient Aid Charts. Organization for Economic Co-operation and Development. www.oecd.org

Human Development Report 2011. United Nations Development Programme. www.undp.org

U.S. Department of State: www.state.gov/outofdate/bgn/netherlandsantilles/128593.htm

 

Updated July 2012