Curacao, Bonaire and the Netherland Antilles

The Netherland Antilles is composed of five islands, Curacao (the largest island) and Bonaire (the second largest island) located off the coast of Venezuela, and Saint Maarten, Saba, and Saint Eustatius lie east of the US Virgin Islands.  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

• Capital: Willemstad (on Curacao)
• Population:  225,369
• Official Language: Dutch
• Currency: Netherlands Antillean guilder

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.

• Imports: $15.74 billion f.o.b. (2006)
• U.S. Share of Imports: 10%
• Major Imports: crude petroleum and food
• GDP: $2.8 billion (2004 est.)
• Per capita GDP: $16,000 (2004 est.)
• GDP growth rate:  1% (2004 est.)

Aruba

Discovered and claimed for Spain in 1499, Aruba was acquired by the Dutch in 1636. The island's economy has been dominated by three main industries. A 19th century gold rush was followed by prosperity brought on by the opening in 1924 of an oil refinery. The last decades of the 20th century saw a boom in the tourism industry. Aruba seceded from the Netherlands Antilles in 1986 and became a separate, autonomous member of the Kingdom of the Netherlands. Movement toward full independence was halted at Aruba's request in 1990

Tourism is the mainstay of the small, open Aruban economy, with offshore banking and oil refining and storage also important. The rapid growth of the tourism sector over the last decade has resulted in a substantial expansion of other activities. Over 1.5 million tourists per year visit Aruba, with 75% of those from the US. Construction continues to boom, with hotel capacity five times the 1985 level. In addition, the country's oil refinery reopened in 1993, providing a major source of employment, foreign exchange earnings, and growth. Tourist arrivals have rebounded strongly following a dip after the 11 September 2001 attacks. The island experiences only a brief low season, and hotel occupancy in 2004 averaged 80%, compared to 68% throughout the rest of the Caribbean. The government has made cutting the budget and trade deficits a high priority.

• GDP:  $2.258 billion (2005 est.)
• Per capita GDP:  $21,800 (2004 est.)
• GDP growth rate: 2.4% (2005 est.)
• Imports: $1.054 billion f.o.b. (2006)
• US. Share of Imports: 54%
• Major Imports: machinery, electrical equipment, crude oil for refining and reexport, chemicals and foodstuffs 

 "Your Connection to Curacao/Aruba"  

Our Carribean Regional Office in Santo Domingo assists U.S. companies with their business needs in Curacao/Aruba by working with our contacts in-country.  

Please contact Mrs. Maria Elena Portorreal at maria.portorreal@N0SPAM.mail.doc.gov to learn how we can help your company enter or expand into this market.