Economic contraction on Bonaire and Saba in 2017

Kralendijk, The Bottom – In 2017, the volume of gross domestic product (GDP) declined on Bonaire and Saba, by 1.3 and 1.4 percent respectively. On St Eustatius, GDP rose by 6.6 percent. Statistics Netherlands (CBS) reports this based on newly released figures.

The GDP volume change* is the development of GDP** value, adjusted for price changes. For price adjustments, the consumer price index was used. In 2017, Bonaire’s GDP value fell by 1.4 percent to 428 million US dollars, while St Eustatius saw an increase of 8.6 percent to 108 million US dollars. On Saba, GDP dropped by 1.8 percent to 47 million US dollars.

Substantial GDP growth on St Eustatius

Statia’s GDP is largely determined by a limited number of companies which realised strong growth in 2017. Growth was slightly hampered by the effects of hurricanes Irma and Maria, which moved along the Windward Islands in September of this year. As a result, the number of tourists visiting the island by air dropped by nearly 5 percent relative to 2016.

GDP development on Bonaire by industry

Bonaire’s drop in GDP volume in 2017 was largely attributable to the industry cluster trade, transport, storage, information and communication, and amounted to 15.5 percent. This cluster was affected by the poor economic conditions in neighbouring country Venezuela.

The value added in the cluster agriculture and manufacturing improved the most. The volume realised in this cluster grew by 6.2 percent.

The cluster accommodation and food services, culture, recreation, sports and other services saw an increase in volume of 3.8 percent.

The volume in the cluster public administration, education and care rose by 2.7 percent. Public administration and care recorded an increase, while education saw a slight drop.

The cluster trade, transport, storage, information and communication made the largest negative contribution to Bonaire’s GDP development: -3.0 percentage points.

Sources:

Statline – Caribbean Netherlands; gross domestic product (GDP)

https://opendata.cbs.nl/statline/#/CBS/en/dataset/83776ENG/table?ts=1576095639238

News article: Tourism in the Caribbean Netherlands down in 2017

https://www.cbs.nl/en-gb/news/2018/19/tourism-in-the-caribbean-netherlands-down-in-2017