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
GDP (purchasing power parity):$2.8 billion (2004 est.)
GDP (official exchange rate):$NA
GDP - real growth rate:1% (2004 est.)
GDP - per capita (PPP):$16,000 (2004 est.)
GDP - composition by sector:agriculture: 1% industry: 15% services: 84% (2000 est.)
Labor force:83,600 (2005)
Labor force - by occupation:agriculture: 1% industry: 20% services: 79% (2005 est.)
Unemployment rate:17% (2002 est.)
Inflation rate (consumer prices):2.1% (2003 est.)
Budget:revenues: $757.9 million expenditures: $949.5 million (2004)
Agriculture - products:aloes, sorghum, peanuts, vegetables, tropical fruit
Industries:tourism (Curacao, Sint Maarten, and Bonaire), petroleum refining (Curacao), petroleum transshipment facilities (Curacao and Bonaire), light manufacturing (Curacao)
Exports:$3.71 billion f.o.b. (2006)
Exports - commodities:petroleum products
Exports - partners:US 27.2%, Panama 11.4%, Mexico 9%, Germany 6.2%, Haiti 5.3%, Singapore 4.8%, The Bahamas 4.2% (2006)
Imports:$15.74 billion f.o.b. (2006)
Imports - commodities:crude petroleum, food, manufactures
Imports - partners:Venezuela 71.1%, US 10.4%, Italy 3.7% (2006)
Economic aid - recipient:$21.32 million (2004)
Debt - external:$2.68 billion (2004)
Currency (code):Netherlands Antillean guilder (ANG)
Exchange rates:Netherlands Antillean guilders per US dollar - NA (2007), 1.79 (2006), 1.79 (2005), 1.79 (2004), 1.79 (2003)
Fiscal year:calendar year
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