Curacao Economy

Curacao enjoys one of the highest standards of living in the Caribbean, with a GDP per capita of US$ 18,000. The main industries of the island are oil refining, tourism ,and financial services. Shipping, international trade and other activities related to the port of Willemstad also makes a considerable contribution to the economy.

Curacao has strong business ties with both the United States and the European Union. It has an Association Agreement with the European Union which allows companies which do business in and via Curacao to export many products to European markets, free of import duties and quotas. It is also a participant in the US Caribbean Basin Initiative allowing it to have preferential access to the US market.

The Central Bank reported that the economy of the Netherlands Antilles became somewhat stronger during 2006, backed by positive developments in the private and public sectors, led by the construction, wholesale and retail, and financial services sectors. Higher economic growth has helped lower its highunemployment rate, which fell to 14.7% in 2006.

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