ORANJESTAD- New figures for the Central Bureau of Statistics (CBS) confirm what many on the island are already feeling for some time. Not only is Statia’s economy stagnant, but actually contracted by no less than a full 11% in the year 2022.

The contraction is extra painful when compared by an 8,8% increase in the economy of Bonaire, and a 1,5% increase in Saba’s economy.

According to data from CBS, turnover fell for some large businesses that depend heavily on the international oil market is responsible for most of the downturn. However, many on the island also point to lagging tourism arrivals. Tourism has not fully recovered since the downturn caused mostly by the COVID-19 crisis.