Caribbean Region: Review of Economic Growth and ... - USITC

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Netherlands Antilles: Selected social development indicatorsMRY(2000–07)Middleincomeaverage,2006Population (thousands, 2006) 184 32,183Population below poverty line(%) na naPoverty headcount ratio at $1per day (PPP, % of population)nanaLife expectancy at birth, 2005 76 70Literacy rate, total (%, 2003) 97 90Data are unavailablefrom sourcePopulation with access toimproved sanitation facilities(%)Population with access toimproved water source (%)na 62na 83Sources: World Development Indicators; CIA World Factbook.See appendix D for sources and definitions.Note: MRY=most recent year for which data are available; na= “not available.”Source: World Development Indicators. See appendix D forsources and definitions.Note: MIA = Middle income average for 2005.Classified by the World Bank as a high-income economy, the Netherlands Antilles is a small, open economyand a separate, autonomous member of the Kingdom of the Netherlands. Although it has a population of lessthan 200,000, its services-oriented economy supports a relatively high GDP per capita of $16,000, twice thatof the middle-income average. The Netherlands Antilles consists of five islands: Curacao, Bonaire, St.2Maarten, Saba, and St. Eustatius; more than 70 percent of the population is on Curacao. Although two ofthe islands are south of the Caribbean hurricane belt (Curacao and Bonaire), three are subject to hurricanesfrom July to October, which has contributed to economic contraction.The Netherlands Antilles economy depends on tourism, oil refining, and offshore financial services. Recenteconomic growth has been weak, and the IMF attributes this lackluster performance to inflexible labormarkets, widespread state ownership and interference in commercial activities, and insufficient investmentin infrastructure and human capital. As a result, per capita GDP has declined in recent years, though itremains higher than the middle-income economy average.High deficits resulting from costly provision of infrastructure and services and damage from natural disastersin recent years have driven rising debt ratios. In addition, increasing pension and health care costs, incomesupport, and interest payments have contributed to an increase in estimated public debt from 64 percentrelative to GDP in 2000 to more than 85 percent in 2005.Social development in the Netherlands Antilles is considered relatively advanced. Compared to the middleincomeeconomy average, the Netherlands Antilles has a higher literacy rate and life expectancy.Nevertheless, the IMF 2005 Article IV consultation report noted that poverty alleviation remains a concern2As of December 15, 2008, the Netherlands Antilles is to cease to exist as a political entity. Curacao and St.Maarten are to become separate and independent countries, while Bonaire, St. Eustatius, and Saba will becomespecial status municipalities within the Netherlands.4-94
for the government. The declining tourism industry has continued to contribute to declining levels of overallemployment. Despite relatively high levels of emigration to the Netherlands (an estimated 12 percent of thepopulation emigrated between 1998 and 2001), unemployment remains relatively high at approximately 15percent. The government of the Netherlands provides the country with substantial development aid.Domestic EconomyNetherlands Antilles: Selected domestic economy indicatorsMRY(2000–07)Middleincomeaverage,2006Inflation (%, 2006) 3.1 4.3Labor force participation rate, total(%, 2006)Gross fixed capital formation (%of GDP)Agricultural land (% of land area,2003)65 73na 2510 35Irrigated land (% of cropland) na 18Fixed line and mobile phonesubscribers (per 1,000 people)na 587Number of ports and terminals 4 naPaved roads (% of total) na naCategory 1 and 2 airports, 2007 2 naSources: World Development Indicators; CIA World Factbook.See appendix D for sources and definitions.Source: CIA World Factbook. See appendix D for sources anddefinitions. Data for most recent year available from source.Note: GDP composition data based on 2000 estimate; GDPbased on 2004 estimate; labor force data based on 2005 data;labor force composition data based on 2005 estimate.Note: MRY=most recent year for which data are available; na= “not available.”The services sector contributes approximately 85 percent to GDP, with the industrial sector contributing mostof the remainder. The agricultural sector constitutes a small percentage of GDP. The Netherlands Antilles’economy is dominated by tourism, petroleum refining, petroleum transshipment facilities and services, andoffshore financial services. Expansion of the tourism industry has supported increased construction and retailactivities. Although the majority of tourists come from Europe, recent charter flight connections with Boston,Chicago, and Toronto have increased the number of tourists from the United States and Canada.The country’s oil refineries service the Venezuelan oil fields. Aside from oil refining, the manufacturingsector is small. Light manufacturing industries include paper, plastics, textiles, brewery, and salt. The mainagricultural products produced are aloes, sorghum, peanuts, vegetables, and tropical fruit, which are primarilyconsumed domestically. Further development of the agricultural sector is hampered by poor soil, limitedarable land, and inadequate water supplies. Consequently, agriculture and fishing contribute minimally toGDP. The few natural resources include phosphates and salt.Compared with other countries in the region, the Netherlands Antilles has a relatively well-developedinfrastructure. The port of Curacao is considered one of the largest natural ports in the world, and its shipping4-95
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TABLE OF CONTENTSPagePreface ......
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TABLE OF CONTENTS-ContinuedChapter
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List of Frequently Used Abbreviatio
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PPPPRGFSDRSMESPSTASCTEUTIEATIFATRQU
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the Netherlands Antilles, accounted
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most influence investment in the re
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Expanding to Higher-Skill-Intensive
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Focusing on Unique Strategic Advant
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U.S.A.CubaBahamasMap of the Caribbe
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Table 1.1 Summary of CBERA preferen
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13under the same rules of origin ap
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training, orientation visits, and b
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domestic population growth pressure
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Figure 2.2 GDP, most recent year, 2
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Figure 2.3 GDP per capita, PPP, mos
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Table 2.1 Selected CBERA countries:
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Box 2.1 Mobile Telephone Industry i
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Table 2.4 Goods and services trade
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Table 2.6 U.S. merchandise imports
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aTable 2.7 Leading U.S. merchandise
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aTable 2.9 Leading U.S. merchandise
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Extent of Utilization of CBERA Pref
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Table 2.12 U.S. imports of apparel
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important trend in the region is th
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GDP in CBERA countries. When the tw
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percent of GDP; this low figure con
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firms from scrutiny, non-transparen
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and Trinidad and Tobago (the only c
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Table 2.17 World Bank IBRD and IDA
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Table 2.19 Caribbean Development Ba
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Table 2.20 Membership of covered CB
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changes specifically in U.S. policy
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Using country-level data, researche
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Reinhardt. 24 The authors find that
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CBTPA programs. Table 3.1 presents
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exports fluctuated within a range o
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promising for all countries covered
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infrastructure, macroeconomic stabi
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exporters have also been affected b
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Policies identified in the literatu
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outside of the domestic market.”
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infrastructure, the 2005 World Bank
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companies.” 99 The islands provid
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government, provide another opportu
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(CDS), was established in 1983 to p
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Policies identified in the literatu
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that, in the early 1990s, Caribbean
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policies discussed in earlier secti
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Caribbean government officials. 159
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These experiences suggest that supp
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which can generate more internation
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Dean, Judith M., and John Wainio.
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Josling, Tim. “Trade Policy in Sm
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———. Textiles and Apparel: Ef
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CHAPTER 4Current Level of Caribbean
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ANTIGUA & BARBUDAEconomic and Socia
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has been an employer of last resort
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International Integration 4Sources:
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improve its overall financial posit
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Aruba: Selected social development
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elated services, such as conference
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SourcesCaribbean-Central American A
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The Bahamas: Selected social develo
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In addition to its beaches that cou
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investment in the services sector,
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Barbados: Selected social developme
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The main agricultural products are
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$418 million. The main products imp
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Belize: Selected social development
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and is one of the fastest-growing i
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Belize: Selected international inte
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BRITISH VIRGIN ISLANDSEconomic and
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Domestic EconomyBritish Virgin Isla
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Data are unavailablefrom sourceData
Page 165: USITC. DataWeb (data compiled from
Page 168 and 169: Dominica: Selected social developme
Page 170 and 171: mainland or Europe, impede developm
Page 172 and 173: Dominica: Selected international in
Page 175 and 176: Economic and Social Development 1GR
Page 177: Grenada’s ongoing poverty eradica
Page 180 and 181: As Grenada’s economy has become i
Page 183 and 184: Economic and Social Development 1GU
Page 185 and 186: income average. The government has
Page 187 and 188: International Integration 3Sources:
Page 189 and 190: Box 4.1 Bauxite Industry in Guyana:
Page 191 and 192: Economic and Social Development 1HA
Page 193 and 194: poor nutrition and inadequate acces
Page 197 and 198: Box 4.2 Apparel Industry in Haiti:
Page 199 and 200: Economic and Social Development 1JA
Page 201 and 202: Hurricane Dean caused significant d
Page 203 and 204: Source: World Development Indicator
Page 205 and 206: Box 4.4 Film Production Outsourcing
Page 207 and 208: MONTSERRATEconomic and Social Devel
Page 209 and 210: constraint to the country’s futur
Page 211 and 212: International Integration 2Source:
Page 213: CIA. “The World Factbook: Montser
Page 218 and 219: services industry is an important s
Page 220 and 221: Netherlands is a major source of FD
Page 222 and 223: Panama: Selected social development
Page 224 and 225: The services sector contributes mor
Page 226 and 227: Panama: Selected international inte
Page 228 and 229: SourcesCaribbean-Central American A
Page 230 and 231: St. Kitts & Nevis: Selected social
Page 232 and 233: government closed the state-run sug
Page 234 and 235: St. Kitts & Nevis: Selected interna
Page 236 and 237: U.S. Department of State. “Backgr
Page 238 and 239: St. Lucia: Selected social developm
Page 240 and 241: St. Lucia’s main service industri
Page 242 and 243: St. Lucia: Selected international i
Page 244 and 245: ———. St. Lucia: 2005 Article
Page 246 and 247: Vincent & the Grenadines: Selected
Page 248 and 249: 3the islands’ adherence to the
Page 250 and 251: Total goods and services trade was
Page 253 and 254: TRINIDAD & TOBAGOEconomic and Socia
Page 255 and 256: development” category. Since 1990
Page 259 and 260: Trinidad and Tobago has consistentl
Page 261: Ethanol Producer Magazine. “Ethan
Page 264 and 265: He said that, in mid-2005, St. Kitt
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projects are set to come online in
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Government of Jamaica 10In testimon
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mentioned that promoting health tou
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economies have become increasingly
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Caribbean-Central American Action (
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and that CBERA benefits are limited
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She added that “a failure to full
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APPENDIX ARequest Letter from Commi
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11/07/2UU'113: 45 P'Ua uu3The Honor
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I I / V I / L U U I 15;40 P M......
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71432 Federal Register / Vol. 72, N
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71434 Federal Register / Vol. 72, N
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CALENDAR OF PUBLIC HEARINGThose lis
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ORGANIZATION AND WITNESS:Halcrow, I
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APPENDIX DCountry Profiles Tables a
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Table D.1 Country Profiles Tables a
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Table D.1-ContinuedTable or figuren
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APPENDIX EMerchandise Trade Tables
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Table E.2 Leading U.S. imports unde
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APPENDIX FDevelopment Tables
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Table F.2 Selected examples of rece
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Table F.2-ContinuedCountryPanama-Co
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