centrale bank van curaÇao en sint maarten quarter.pdf · centrale bank van curaÇao en sint...

The Economy of Curaçao and Sint Maarten in Data and ChartsQuarterly Overview

CENTRALE BANK VAN CURAÇAO EN SINT MAARTEN

60,000

80,000

100,000

120,000

Num

ber

of A

rriv

als

Stay-over Arrivals Curacao

2009-III – 2013-III

CONTENTPage:

DATAQuarterly Overview, Curaçao 1Quarterly Overview, St.Maarten 2Quarterly Overview, Monetary Union 3

GRAPHSCuraçao1. Real Sector Quarterly Overview1a. GDP 41b. Real GDP Growth 41c. Inflation (12 months average) 41d. Unemployment Rate 41e. Stay-over Arrivals 41f. Occupancy Rate 41g. Cruise Arrivals 41h. Airport Passengers 41i. Freezone Visits 51j. Ships Piloted 51k. Container Movements 51l. Electricity Production 51m. Water Production 51n. Construction Index 51o. Ship Repair 51p. Refining Index

2. Public Finances Quarterly Overview2a. Government Budget 62b. Budget Balance 62c. Government Debt 6

3. Balance of Payments Quarterly Overview3a. Current Account Balance 73b. Trade Balance 73c. Service Balance 73d. Tourism 73e. International Financial and Business Services 73f. Capital and Financial Account 73g. License Fee 7

4. Monetary Sector Quarterly Overview4a. Private Loans 84b. Private Loans, Mortgages 84c. Private Loans, Consumer 84d. Private Loans, Business 8

Sint Maarten1. Real Sector Quarterly Overview 91a. GDP 91c. Inflation (12 months average) 91d. Stay-over Arrivals 91e. Occupancy Rate 91f. Cruise Arrivals 91g. Airport Passengers 91h. Ships Piloted 91i. Container Movements 101j. Electricity Production 101k. Water Production 101l. Issued Building Permits 10

2. Public Finances Quarterly Overview2a. Government Budget (Revenues) 112c. Government Debt 11

3. Balance of Payments Quarterly Overview3a. Current Account Balance 123b. Trade Balance 123c. Service Balance 123d. Tourism 123e. International Financial and Business Services 123f. Capital and Financial Account 123g. License Fee 12

4. Monetary Sector Quarterly Overview4a. Private Loans 134b. Private Loans, Mortgages 134c. Private Loans, Consumer 134d. Private Loans, Business 13

Monetary Union5. Money, Credit and Interest Rates5a. Total Money 145b. Net Foreign Assets 145c. Net Domestic Credit 145d. Private loans 14

6. International Reserves6a. Import Coverage 146b. International Reserves 14

7. Balance of Payments7a. Current Account Balance 147b. Trade Balance 147c. Service Balance 157d. Tourism 157e. International Financial and Business Services 157f. License Fee 15

8. Macroprudential Indicators8a. Total Capital-to-Total Risk Assets 158b. Total Loans-to-Total Deposits 158c. Liquidity 158d. Return-on-Assets 158e. Non Performing Loans-to-Total Loans 16

9. Curaçao compared with Sint Maarten9a. GDP 179c. Inflation (12 months average) 179d. Stay-over Arrivals 179e. Cruise Arrivals 179f. Ships Piloted 17

Notes 18

2009-III 2010-III 2011-III 2012-III 2013-III 1. Real SectorGDP (in billions NAf.)* 5.1 5.2 5.4 5.6 5.6Real GDP Growth (%) -0.4 -0.5 0.6 0.3 -0.4Inflation (%)** 3.6 2.4 2.1 3.2 1.9Unemployment Rate (%) 10.3 9.6 10.0 9.8 13.0Stay-over Arrivals 88,072 87,396 100,813 107,996 108,424Occupancy Rate (%) 72.7 71.2 74.2 70.3 65.0Cruise Arrivals 35,020 16,483 18,467 25,478 74,309Airport Passengers 378,042 359,073 446,049 478,526 446,020Freezone Visits 9,976 8,434 9,286 8,335 6,422Ships Piloted (Total GRT) 12,863 9,804 10,665 14,147 13,662Container Movements (TEU) 25,569 23,760 24,349 24,687 20,538Electricity Production (MwH index) 181.0 170.4 188.2 188.7 183.8Water Production (M3 index) 131.3 119.0 131.2 132.2 129.2Construction Index (2000=100) 283.8 217.8 210.5 193.7 193.0Ship Repair (Manhours Worked in thousands) 151 123 209 159 173Refining Index (1993=100) 95.0 41.8 74.5 78.6 72.5

2. Public Finances (in millions NAf.) Budget Balance 60.6 184.7 -14.3 19.8 12.6Budget Balance (% of GDP) 1.2 3.5 -0.3 0.4 0.2Revenues 333.8 481.6 377.0 375.5 366.9Expenditures 273.2 296.9 391.3 355.8 354.3

Financing -60.6 -184.7 14.3 -19.8 -12.6 Monetary -39.1 53.6 56.3 -6.0 -118.5 Nonmonetary -21.5 -238.3 -42.0 -13.8 105.9 Government Debt* 2,850.3 2,527.1 2,208.0 1,934.3 2,003.7

CENTRALE BANK VAN CURAÇAO EN ST. MAARTENQuarterly Overview, Curaçao

2009-III - 2013-III

Government Debt* 2,850.3 2,527.1 2,208.0 1,934.3 2,003.7 Domestic**** 2,369.9 2,121.5 559.0 285.3 292.1 Foreign 480.4 405.6 1,649.0 1,649.0 1,711.6

Government Debt (% of GDP) 55.7 48.2 40.9 34.8 35.5 Domestic (% of GDP) 46.3 40.4 10.3 5.1 5.2 Foreign (% of GDP) 9.4 7.7 30.5 29.6 30.3

3. Balance of Payments (in millions NAf.)Current Account Balance -266.0 -451.7 -457.6 -417.7 -352.1 Trade Balance -490.0 -610.3 -540.3 -586.8 -531.1 Exports 269.7 309.5 466.9 425.0 277.6 Imports 786.7 919.7 1,007.1 1,011.8 807.7 Service Balance 142.8 75.7 141.1 211.6 243.7 Exports 474.2 390.3 523.8 603.7 633.3 Tourism 160.2 171.3 197.0 229.1 248.1 International Financial and Business Services 53.2 53.3 37.9 33.6 37.2 Imports 331.4 314.5 382.7 392.1 389.6 Income Balance -26.4 -1.2 -14.7 -4.9 -10.7 Current Transfers Balance 107.6 84.0 -43.8 -37.7 -55.0Capital and Financial Account 211.3 425.4 479.4 410.4 358.2Net Change in International Reserves*** 0.0 -289.2 -23.2 95.3 34.6License Fee (in thousands NAf.) 11,791 12,866 12,858 12,480 12,292

4. Monetary Sector (in millions NAf.)Private Loans* 3,361.7 3,532.0 3,759.0 4,098.8 4,192.2 Mortgages 1,345.9 1,382.9 1,533.9 1,753.0 1,826.1 Consumer Loans 852.7 959.8 963.6 948.4 905.0 Business Loans 1,163.2 1,189.3 1,261.5 1,397.4 1,461.1

* Stock value, end of period. ** 12 months average. *** - Sign means an increase in reserves.**** As of 2011, the debt to the social security bank, the government pension fund, and other companies have been estimated.

1

2009-III 2010-III 2011-III 2012-III 2013-III

1. Real SectorGDP (in billions NAf.)* 1.5 1.6 1.7 1.7 1.8Real GDP Growth (%) n.a. n.a. n.a. n.a. n.a.Inflation (%)** 0.4 3.7 3.6 4.5 2.8Unemployment Rate (%) n.a. 12.2 n.a. n.a. n.a.Stay-over Arrivals 96,278 92,849 85,975 92,466 93,325Occupancy Rate (%) 56.1 50.6 47.0 48.7 56.2Cruise Arrivals 122,753 231,833 194,028 216,861 235,551Airport Passengers 370,953 374,854 356,373 381,561 385,973Ships Piloted (Total GRT) 5,872 9,685 8,390 11,114 9,806Container Movements (TEU) 17,147 17,256 16,979 19,257 17,689Electricity Production (Mwh index) 217.4 220.7 208.0 218.7 222.8Water Production (M3 index) 399.4 375.8 394.7 396.2 433.6Issued Building Permits 42 78 68 60 117

2. Public Finances (in millions NAf.)Budget Balance n.a. -38.3 7.5 -25.2 n.a.Budget Balance (% of GDP) n.a. -2.4 0.5 -1.4 n.a.Revenues 52.8 50.3 103.9 94.5 101.7Expenditures n.a. 88.6 96.4 119.7 n.a.

Financing n.a. n.a. -7.5 25.2 n.a. Monetary n.a. n.a. 16.7 11.7 8.1 Nonmonetary n.a. n.a. -24.2 13.5 n.a. Government Debt* 208.9 228.6 351.7 352.6 392.6 Domestic**** 208.9 228.6 49.8 24.7 64.7

CENTRALE BANK VAN CURAÇAO EN ST. MAARTENQuarterly Overview, St. Maarten

2009-III - 2013-III

Domestic**** 208.9 228.6 49.8 24.7 64.7 Foreign 0.0 0.0 301.9 327.9 327.9

Government debt (% of GDP) 13.7 14.5 21.3 20.3 21.7 Domestic (% of GDP) 13.7 14.5 3.0 1.4 3.6 Foreign (% of GDP) 0.0 0.0 18.3 18.9 18.1

3. Balance of Payments (in millions NAf.)Current Account Balance -83.7 -63.1 -42.6 -63.7 -47.9 Trade Balance -215.9 -247.1 -228.9 -255.9 -277.8 Exports 51.8 42.8 47.5 44.6 72.6 Imports 267.7 289.9 276.4 300.5 350.4 Service Balance 162.7 212.2 202.2 236.2 236 Exports 259.3 297.6 292.8 342.1 342.4 Tourism 204.7 239.0 220.9 262.1 267.1 International Financial and Business Services 7.8 4.0 4.8 3.1 3.6 Imports 96.6 85.4 90.5 106.0 106.4 Income Balance -11.5 -10.6 -13.0 -13.4 -4.6 Current Transfers Balance -19.1 -17.6 -2.9 -30.6 -1.5Capital and Financial Account 107.0 6.7 29.9 37.6 -6.7Net Change in International Reserves*** 60.5 -91.3 -8.2 33.5 12.1License Fee (in thousands NAf.) 4,966 5,393 4,980 4,937 5,224

4. Monetary Sector (in millions NAf.)Private Loans* 1,538.0 1,614.5 1,553.3 1,498.5 1,445.5 Mortgages 656.4 693.9 647.2 622.1 635.7 Consumer Loans 376.2 412.0 382.1 361.5 339.9 Business Loans 505.4 508.6 524.0 514.9 469.9

* Stock value, end of period. ** 12 months average. *** - Sign means an increase in reserves.**** As of 2011, the domestic government debt might exclude debt to the social security bank, the government pension fund, and other companies in some years. and other companies in some years.

2

2009-III 2010-III 2011-III 2012-III 2013-III5. Money, Credit and Interest Rates (in millions NAf.)Total Money (M2)* 7,055.2 7,815.3 7,237.7 7,629.4 7,329.6Total Money (% of GDP) 107.9 116.9 105.2 107.3 100.9Net Domestic Credit* 4,101.3 4,153.0 2,743.0 3,456.9 3,634.4Net Foreign Assets* 2,953.9 3,662.3 4,494.7 4,172.5 3,695.2Change in Money Supply 37.8 244.1 -49.6 -140.6 -124.8 Domestic Sector (net) 5.0 -32.0 0.1 -5.2 -255.6 Former Central Government -20.4 -282.1 -7.8 -16.0 -1.1 Former Island Governments -35.4 9.6 n.a. n.a. n.a. Curaçao Government n.a. n.a. 56.3 -5.9 -118.5 St. Maarten Government n.a. n.a. 16.8 11.6 8.1 Private Sector 67.8 207.7 7.2 158.1 -82.1 Miscellaneous -7.0 32.8 -72.4 -153.1 -62.0 Foreign Sector (net) 32.8 276.1 -49.7 -135.3 130.8

Pledging Rate (%) 1.00 1.00 1.00 1.00 1.00 Current Account Overdrafts (%) 7.23 7.46 6.83 6.74 6.68 Government Bond (5-years) (%) 4.30 3.25 1.58 0.82 1.09

Private Loans* 4,899.7 5,146.5 5,312.4 5,597.3 5,637.8 Mortgages 2,002.3 2,076.8 2,181.1 2,375.1 2,461.9 Consumer Loans 1,228.9 1,371.8 1,345.7 1,309.8 1,244.9 Business Loans 1,668.6 1,697.9 1,785.5 1,912.3 1,931.0

6. International Assets (in millions NAf.)International Assets* 2,953.9 3,662.3 3,841.5 3,630.2 3,225.5Central Bank 2,156.2 2,585.6 2,743.6 2,714.4 2,444.4Gold 544.9 637.1 1,219.1 1,336.5 998.2Official Foreign Exchange Reserves 2,588.2 2,663.2 2,159.1 1,993.4 1,941.6

CENTRALE BANK VAN CURAÇAO EN ST. MAARTENQuarterly Overview, Monetary Union**

2009-III - 2013-III

Official Foreign Exchange Reserves 2,588.2 2,663.2 2,159.1 1,993.4 1,941.6Short-term Foreign Liabilities Central Bank 976.9 714.7 634.6 615.4 495.4Commercial Banks 797.7 1,076.7 1,097.9 915.8 781.1Import Coverage (months) 4.8 4.8 3.7 3.3 3.5

7. Balance of Payments (in millions NAf.)Current Account Balance -350.5 -463.1 -502.1 -477.8 -402.9 Trade Balance -811.2 -894.8 -769.1 -842.7 -807.9 Exports 350.4 353.3 514.3 469.6 350.2 Imports 1,161.6 1,248.1 1,283.4 1,312.3 1158.1 Service Balance 371.5 364.6 343.1 448.8 481.9 Exports 814.1 782.0 819.8 948.1 979.6 Tourism 397.5 455.3 417.9 491.2 515.2 International Financial and Business Services 61.4 58.1 42.6 36.7 40.8 Imports 442.6 417.4 476.7 499.4 497.7 Income Balance -44.2 -17.3 -29.6 -18.4 -20.4 Current Transfers Balance 133.4 84.4 -46.5 -65.5 -56.2Capital and Financial Account 317.0 415.9 495.8 440.3 350.7Net Change in International Reserves*** -32.8 -276.4 -31.4 128.8 46.7License Fee (in thousands NAf.) 17,290 19,816 17,898 17,812 17,516

8. Macroprudential Indicators Total Capital-to-Total Risk Assets (%) 17.4 16.7 16.9 17.6 17.7Total Loans-to-Total Deposits (%) 64.7 64.3 67.6 68.0 69.7Liquidity (in millions NAf.)* 1,892.0 1,596.0 1,198.4 1,273.3 1,250.9Return-on-Assets (%) 1.7 1.9 1.3 2.1 1.7Nonperforming Loans-to-Total Loans (%) 5.8 5.8 7.4 7.5 8.8

* Stock value, end of period. ** Due to the constitutional changes, the Netherlands Antilles were dissolved on October 10, 2010. Curaçao and Sint Maarten became autonomous countries and formed a monetary union, while Bonaire, Sint Eustatius and Saba (BES) became special municipalities of the Netherlands. Therefore, the data presented here refer to the Netherlands Antilles up to October 2010, and the monetary union thereafter. *** - Sign means an increase in reserves.

3

CENTRALE BANK VAN CURAÇAO EN ST. MAARTENReal Sector Quarterly Overview, Curaçao

2009-III - 2013-III

3

4

5

6

7


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Graph 1a. GDP

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115,000

130,000


Num

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Graph 1e. Stay-over Arrivals

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100


Per

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Graph 1f. Occupancy Rate

-2

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Graph 1b. Real GDP Growth

0

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Graph 1g. Cruise Arrivals

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Graph 1h. Airport Passengers

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Graph 1d. Unemployment Rate

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Graph 1c. Inflation (12 months avg.)

4

CENTRALE BANK VAN CURAÇAO EN ST. MAARTEN Real Sector Quarterly Overview, CuraçaoReal Sector Quarterly Overview, Curaçao

2009-III - 2013-III

CENTRALE BANK VAN CURAÇAO EN ST. MAARTEN

4,000

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12,000


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Graph 1i. Freezone Visits

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15,000


Tot

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RT

Graph 1j. Ships Piloted

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22,000

24,000

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28,000


TE

U

Graph 1k. Container Movements

160

170

180

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Mw

h (I

ndex

)Graph 1l. Electricity Production

115

120

125

130

135


M3

(Ind

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Graph 1m. Water Production

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Inde

x 20

00=

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Graph 1n. Construction Index

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225

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Graph 1o. Ship Repair

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110


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93=

100

Graph 1p. Refining Index

5

CENTRALE BANK VAN CURACAO EN ST. MAARTEN Public Finances Quarterly Overview, Curaçao

CENTRALE BANK VAN CURAÇAO EN ST. MAARTENPublic Finances Quarterly Overview, Curaçao

2009-III - 2013-III

-100

0

100

200

300


NA

f. M

illio

ns

Graph 2b. Budget Balance

0

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f. M

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Graph 2c. Government Debt

0

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NA

f. M

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Graph 2a. Government Budget

Revenues Expenditures

6

CENTRALE BANK VAN CURACAO EN ST. MAARTEN Balance of Payment Quarterly Overview, Curaçao

CENTRALE BANK VAN CURAÇAO EN ST. MAARTENBalance of Payments Quarterly Overview, Curaçao

2009-III - 2013-III

-600

-450

-300

-150

0


NA

f. M

illio

ns

Graph 3a. Current Account Balance

-700

-600

-500

-400

-300


NA

f. M

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Graph 3b. Trade Balance

50

100

150

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250


NA

f. M

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Graph 3c. Service Balance

25

35

45

55

65


NA

f. M

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ns

Graph 3e. International Financial andBusiness Services

100

150

200

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NA

f. M

illio

nsGraph 3d. Tourism

8,000

10,000

12,000

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16,000


NA

f. T

hous

and

s

Graph 3g. Licence Fee

150

250

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450

550


NA

f. M

illio

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Graph 3f. Capital and Financial Account

7

CENTRALE BANK VAN CURACAO EN ST. MAARTEN Monetary Sector Quarterly Overview, Curaçao

CENTRALE BANK VAN CURAÇAO EN ST. MAARTENMonetary Sector Quarterly Overview, Curaçao

2009-III - 2013-III

2,500

3,000

3,500

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NA

f. M

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ns

Graph 4a. Private Loans

800

850

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NA

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Graph 4c. Private Loans, Consumer

800

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f. M

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Graph 4b. Private Loans, Mortgages

1,100

1,200

1,300

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NA

f. M

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nsGraph 4d. Private Loans, Business

8

CENTRALE BANK VAN CURAÇAO EN ST. MAARTEN Real Sector Quarterly Overview, St. Maarten

CENTRALE BANK VAN CURAÇAO EN ST. MAARTENReal Sector Quarterly Overview, Sint Maarten

2009-III - 2013-III

0.5

1.0

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2.0

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NA

f. B

illio

ns

Graph 1a. GDP

0

2

4

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8


Per

cent

age

Graph 1c. Inflation (12 months avg.)

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Num

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Graph 1d. Stay-over Arrivals

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Per

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age

Graph 1e. Occupancy Rate

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Graph 1f. Cruise Arrivals

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Graph 1g. Airport Passengers

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RT

Graph 1h. Ships Piloted

9

CENTRALE BANK VAN CURAÇAO EN ST. MAARTEN Real Sector Quarterly Overview, St. MaartenReal Sector Quarterly Overview, Sint Maarten

2009-III - 2013-III


10,000

15,000

20,000

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30,000


TE

U

Graph 1i. Container Movements

170

190

210

230

250


Mw

h (I

ndex

)

Graph 1j. Electricity Production

300

350

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500


M3

(Ind

ex)

Graph 1k. Water Production

30

60

90

120

150


Num

ber

of P

erm

itsGraph 1l. Issued Building Permits

10

CENTRALE BANK VAN CURACAO EN ST. MAARTEN Public Finances Quarterly Overview, St. Maarten

CENTRALE BANK VAN CURAÇAO EN ST. MAARTENPublic Finances Quarterly Overview, Sint Maarten

2009-III - 2013-III

100

200

300

400

500


NA

f. M

illio

ns

Graph 2b. Government Debt

0

50

100

150


NA

f. M

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ns

Graph 2a. Government Budget (Revenues)

11

CENTRALE BANK VAN CURACAO EN ST. MAARTEN Balance Of Payment Quarterly Overview, St. Maarten

CENTRALE BANK VAN CURAÇAO EN ST. MAARTENBalance of Payments Quarterly Overview, Sint Maarten

2009-III - 2013-III

-150

-100

-50

0

50


NA

f. M

illio

ns


-500

-350

-200

-50

100


NA

f. M

illio

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75

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225

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375


NA

f. M

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0

100

200

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400


NA

f. M

illio

nsGraph 3d. Tourism

4,000

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5,000

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NA

f. T

hous

and

s

Graph 3g. Licence Fee

-50

0

50

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150


NA

f. M

illio

ns

Graph 3f. Capital and Financial Account

0

3

6

9

12


NA

f. M

illio

ns


12

CENTRALE BANK VAN CURACAO EN ST. MAARTEN Balance Of Payment Quarterly Overview, St. Maarten

CENTRALE BANK VAN CURAÇAO EN ST. MAARTENMonetary Sector Quarterly Overview, Sint Maarten

2009-III - 2013-III

1,000

1,250

1,500

1,750

2,000


NA

f. M

illio

ns

Graph 4a. Private Loans

400

500

600

700

800


NA

f. M

illio

ns

Graph 4b. Private Loans, Mortgages

300

350

400

450

500


NA

f. M

illio

ns

Graph 4c. Private Loans, Consumer

300

400

500

600

700


NA

f. M

illio

nsGraph 4d. Private Loans, Business

13

CENTRALE BANK VAN CURACAO EN ST. MAARTEN Quarterly Overview, Monetary Union

CENTRALE BANK VAN CURAÇAO EN ST. MAARTENQuarterly Overview, Monetary Union

2009-III - 2013-III

4,000

6,000

8,000

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12,000


NA

f. M

illio

ns

Graph 5a. Total Money

2,000

3,000

4,000

5,000

6,000


NA

f. M

illio

ns

Graph 5c. Net Domestic Credit

1,500

2,500

3,500

4,500

5,500


NA

f. M

illio

ns

Graph 5b. Net Foreign Assets

1,000

1,500

2,000

2,500

3,000


NA

f. M

illio

ns

Graph 6b. Official Foreign Exchange Reserves

2.0

3.0

4.0

5.0

6.0


Mon

ths

Graph 6a. Import Coverage

Target Import Coverage (months)

3,000

4,000

5,000

6,000

7,000


NA

f. M

illio

nsGraph 5d. Private Loans

-800

-600

-400

-200

0


NA

f. M

illio

ns


-1,300

-1,100

-900

-700

-500


NA

f. M

illio

ns


14

CENTRALE BANK VAN CURACAO EN ST. MAARTEN Quarterly Overview, Monetary UnionQuarterly Overview, Monetary Union

2009-III - 2013-III


12

14

16

18

20


Per

cent

age

Graph 8a. Total Capital-to-Total Risk Assets

55

60

65

70

75


Per

cent

age

Graph 8b. Total Loans-to-Total Deposits

500

1,000

1,500

2,000

2,500


NA

f. M

illio

ns

Graph 8c. Liquidity

0.0

1.0

2.0

3.0

4.0


Per

cent

age

Graph 8d. Return-on-Assets

0

200

400

600

800


NA

f. M

illio

ns


20

40

60

80

100


NA

f. M

illio

ns


0

200

400

600

800


NA

f. M

illio

ns

Graph 7d. Tourism

12,500

15,000

17,500

20,000

22,500


NA

f. T

hous

and

sGraph 7f. Licence Fee

15

Quarterly Overview, Monetary Union2009-III - 2013-III


2.0

4.0

6.0

8.0

10.0


Per

cent

age

Graph 8e. Nonperforming Loans-to-Total Loans

16

CENTRALE BANK VAN CURAÇAO EN ST. MAARTEN Real Sector Quarterly Overview, St. Maarten

CENTRALE BANK VAN CURAÇAO EN ST. MAARTENReal Sector Quarterly Overview, Curaçao compared with Sint Maarten

2009-III - 2013-III

0.0

2.0

4.0

6.0

8.0


NA

f. B

illio

ns

Graph 9a. GDP

St. Maarten Curaçao

0.0

2.0

4.0

6.0

8.0


Per

cent

age

Graph 9c. Inflation (12 month avg)


70,000

85,000

100,000

115,000

130,000


Num

ber

of A

rriv

als

Graph 9d. Stay-over Arrivals


0

75,000

150,000

225,000

300,000


Num

ber

of A

rriv

als

Graph 9e. Cruise Arrivals


0

5,000

10,000

15,000

20,000


Tot

al G

RT

Graph 9f. Ships Piloted


17

Curaçao1. Real Sector Qyarterly OverviewGDP (in billions NAf.)* Nominal GDP Curaçao (source CBS), current year CBCS estimate.Real GDP Growth (%) Growth in Real GDP Curaçao, (source CBS) current year CBCS estimate based on

economic indicators.Inflation (%) Change in the 12 month average consumer price index of Curaçao, current month

compared to the same month previous year.Unemployment Rate (%) Number of jobseekers as a proportion of the workforce, source Labour Force

Survey.Stay-over Arrivals Total stay-over visitor arrivals, excl. Antilleans.Occupancy Rate (%) Hotel occupancy of all hotel members of CHATA.Cruise Arrivals Number of cruise passengers.Airport Passengers Number of arrivals, departures and transit passengers.Freezone Visits Number of free zone visits, excl. Antilleans.Ships Piloted Total gross tonnage of ships piloted into the harbors, excl. tugs.Container Movements Total m3 cargo movements loaded and unloaded, local and transshipment.Electricity Production Total MwH of electricity produced on Curaçao.Water Production Total m3 of water produced on Curaçao.Construction Index The average of the indices of produced bricks and produced sand.Ship Repair Index Manhours of ships repaired (2000=100).Refining Index Index of the amount of oil refined in Curaçao (1993=100).

2. Public Finances Quarterly OverviewBudget Balance Revenues minus expenditures of the Curaçao government (accrual basis).Budget Balance (% of GDP) Operational balance of the Curaçao government as a percentage of nominal GDP

of Curaçao.Revenues Revenues of the Curaçao government (accrual basis).Expenditures Expenditures of the Curaçao government (accrual basis).Financing Financing of the operational balance.Monetary Current account and net demand deposits minus loans and securities by the

government of Curaçao at the commercial banks and the Central Bank.Nonmonetary Government securities in the hands of the public and other non-bank

institutions.Government Debt* Total debt of the Curaçao government, including arrears.Domestic Domestic debt of the Curaçao government.Foreign Foreign debt of the Curaçao government.Government Debt (% of GDP) Total debt of the Curaçao government as a percentage of nominal GDP of

Curaçao.Domestic (% of GDP) Domestic debt of the Curaçao government as a percentage of nominal GDP of

Curaçao.Foreign (% of GDP) Foreign debt of the Curaçao government as a percentage of nominal GDP of

Curaçao.

3. Balance of Payments Quarterly OverviewCurrent Account Balance The difference between export and import of goods and services, received and

paid income and current transfers between residents of Curaçao and the rest of the world in a given period.

Trade Balance The difference between export and import of goods between residents of Curaçao and the rest of the world in a given period.

Exports Export of goods of residents by Curaçao to the rest of the world.Imports Import of goods of residents by Curaçao from the rest of the world.

Explanatory notes to the data

18

Service Balance The difference between export and import of services (e.g. travel, transport) between residents of Curaçao and the rest of the world in a given period.

Exports Export of services (e.g. travel, transport) by residents of Curaçao to the rest of the world in a given period.

Tourism The amount of tourism income generated in Curaçao.International Financial and Business Services The amount of operational income (management fees) generated from

international financial & business services provided by Curaçao. Imports Import of services (e.g. travel, transport) by residents of Curaçao from the rest of

the world in a given period.Income Balance All net income from the factors of production labour (labour income) and capital

(investment income) with the rest of the world. Current Transfers Balance Transfers to and from the government of Curaçao, workers remittances and other

current transfers with the rest of the world.Capital and Financial Account Capital transfers and acquisition or disposal of nonproduced, nonfinancial assets

and financial assets and liabilities.Net Change in International Reserves** The change in net international reserves of Curaçao due to foreign exchange

transactions in a given period excl. gold.License Fee (in thousands NAf.) Total license fee (1% of payments abroad) collected on Curaçao.

4. Monetary SectorPrivate Loans* Loans to private sector by commercial banks of Curaçao. Private loans consist of

consumer loans, business loans and mortgages.Mortgages Outstanding mortgages to private sector by commercial banks of Curaçao.Consumer Loans Outstanding consumer loans to private sector by commercial banks of Curaçao.Business Loans Outstanding business loans to private sector by commercial banks of Curaçao.

Sint Maarten1. Real Sector Quarterly OverviewGDP (in billions NAf.)* Nominal GDP Sint Maarten (source Statistical Office), current year CBCS

estimate.Inflation (%) Change in the 12 month average consumer price index of Sint Maarten, current

month compared to the same month previous year.Unemployment Rate (%) Number of jobseekers as a proportion of the workforce, source Labour Force

Survey.Stay-over Arrivals Total stay-over visitor arrivals, excl. Antilleans.Occupancy Rate (%) Hotel occupancy of all hotel members of SHATA.Cruise Arrivals Number of cruise passengers.Airport Passengers Number of Arrivals, departures and transit passengers.Ships Piloted Total gross tonnage of ships piloted into the harbors, excl. tugs.Container Movements Total m3 cargo movements loaded and unloaded.Electricity Production Total MwH of electricity produced on Sint Maarten.Water Production Total m3 of water produced on Sint Maarten.Issued Building Permits Number of issued building permits by the Department of Public Housing and

Spatial development.

19

2. Public Finances Quarterly OverviewBudget Balance Revenues minus expenditures of the Sint Maarten government (accrual

basis).Budget Balance (% of GDP) Operational balance of the Sint Maarten government as a percentage of nominal

GDP of Sint Maarten.Revenues Revenues of the Sint Maarten government (accrual basis).Expenditures Expenditures of the Sint Maarten government (accrual basis).Financing Financing of the operational balance.Monetary Current account and net demand deposits minus loans and securities by the

government of Sint Maarten at the commercial banks and the Central Bank.Nonmonetary Government securities in the hands of the public and other non-bank

institutions.Government Debt* Total debt of the Sint Maarten government, including arrears.Domestic Domestic debt of the Sint Maarten government.Foreign Foreign debt of the Sint Maarten government.Government Debt (% of GDP) Total debt of the Sint Maarten government as a percentage of nominal GDP of

Sint Maarten.Domestic (% of GDP) Domestic debt of the Sint Maarten government as a percentage of nominal GDP

of Sint Maarten.Foreign (% of GDP) Foreign debt of the Sint Maarten government as a percentage of nominal GDP of

Sint Maarten.

3. Balance of Payments Quarterly OverviewCurrent Account Balance The difference between export and import of goods and services, received and

paid income and current transfers between residents of Sint Maarten and the rest of the world in a given period.

Trade Balance The difference between export and import of goods between residents of Sint Maarten and the rest of the world in a given period.

Exports Export of goods of residents by Sint Maarten to the rest of the world.Imports Import of goods of residents by Sint Maarten from the rest of the world.Service Balance The difference between export and import of services (e.g. travel, transport)

between residents of Sint Maarten and the rest of the world in a given period.Exports Export of services (e.g. travel, transport) by residents of Sint Maarten to the rest of

the world in a given period.Tourism The amount of tourism income generated in Sint Maarten.International Financial and Business Services The amount of operational income (management fees) generated from

international financial & business services provided by Sint Maarten. Imports Import of services (e.g. travel, transport) by residents of Sint Maarten from the

rest of the world in a given period.Income Balance All net income from the factors of production labour (labour income) and capital

(investment income) from the rest of the world. Current Transfers Balance Transfers to and from the government of Sint Maarten, workers remittances and

other current transfers with the rest of the world.Capital and Financial Account Capital transfers and acquisition or disposal of nonproduced, nonfinancial assets

and financial assets and liabilities with the rest of the world.Net Change in International Reserves** The change in net international reserves of Sint Maarten due to foreign exchange

transactions in a given period, excl. gold.License Fee (in thousands NAf.) Total license fee (1% of payments abroad) collected on Sint Maarten.

20

4. Monetary Sector Quarterly OverviewPrivate Loans* Loans to private sector by commercial banks of Sint Maarten. Private loans consist

of consumer loans, business loans and mortgages.Mortgages Outstanding mortgages to private sector by commercial banks of Sint

Maarten.Consumer Loans Outstanding consumer loans to private sector by commercial banks of Sint

Maarten.Business Loans Outstanding business loans to private sector by commercial banks of Sint

Maarten.

Monetary Union5. Money, Credit and Interest RatesTotal Money (M2)* Broad money (money + near money) Monetary Union of Curaçao and Sint

Maarten.Total Money (% of GDP) Broad money (money + near money) Monetary Union of Curaçao and Sint

Maarten as a percentage of the nominal GDP of Curaçao and Sint Maarten.Net Domestic Credit* The sum of net credit to the nonfinancial public sector, credit to the private sector,

and other accounts Monetary Union of Curaçao and Sint Maarten.Net Foreign Assets* Net official reserves (gold+foreign assets CBCS-foreign liabilities CBCS) + net

foreign assets commercial banks (total foreign assets - total foreign liabilities), Monetary Union of Curaçao and Sint Maarten.

Change in Money Supply Factors affecting changes in total liquid assets (total claims on domestic sectors + net foreign assets).

Domestic Sector (net) Change in liquid assets of the domestic sector.Former Central Government Change in liquid assets of the former Central Government.Former Island Governments Change in liquid assets of the former Island Governments.Curaçao Government Change in liquid assets of the Curaçao Government.St. Maarten Government Change in liquid assets of the Sint Maarten Government.Private Sector Change in liquid assets of the private sector of Curaçao and Sint Maarten.Miscellaneous Misscelaneous changes in liquid assets of Curaçao and Sint Maarten.Foreign Sector (net) Change in net official reserves.Pledging Rate (%) Interest rate at which commercial banks can get Certificates of Deposits with the

Central Bank.Current Account Overdrafts (%) Average interest rate of commercial banks on current account overdrafts.Government Bond (5-years) (%) Government Bonds effective yield (medium and long).Private Loans* Loans to private sector by commercial banks of Curaçao and Sint Maarten. Private

loans consist of consumer loans, business loans and mortgages.Mortgages Outstanding mortgages to private sector by commercial banks of Curaçao and Sint

Maarten.Consumer Loans Outstanding consumer loans to private sector by commercial banks of Curaçao

and Sint Maarten.Business Loans Outstanding business loans to private sector by commercial banks of Curaçao and

Sint Maarten.

21

6. International ReservesInternational Reserves* Net International reserves comprise the Central Bank's claim on the Gold Fund

and net foreign assets and the commercial banks foreign assets.Central Bank Net foreign assets of the Central Bank including gold.Gold Value of the Central Bank's claim on the Gold Fund, as of October 10, 2010 based

on market value. Official Foreign Exchange Reserves Net foreign assets of the Central Bank excluding gold.Commercial Banks Net foreign assets of the commercial banks.Import Coverage (months) The number of months of merchandise imports that can be paid from the

available net official reserves (excl. gold) in a given period.

7. Balance of PaymentsCurrent Account Balance The difference between export and import of goods and services, received and

paid income and current transfers between residents of the Monetary Union and the rest of the world in a given period.

Trade Balance The difference between export and import of goods between residents of the Monetary Union and the rest of the world in a given period.

Exports Export of goods of residents of the Monetary Union to the rest of the world.

Imports Import of goods of residents of the Monetary Union from the rest of the world.

Service Balance The difference between export and import of services (e.g. travel, transport) between residents of the Monetary Union and the rest of the world in a given period.

Exports Export of services (e.g. travel, transport) by residents of the Monetary Union to the rest of the world in a given period.

Tourism The amount of tourism income generated in the Monetary Union.International Financial and Business Services The amount of operational income (management fees) generated from

international financial & business services provided by the Monetary Union. Imports Import of services (e.g. travel, transport) by residents of the Monetary Union from

the rest of the world in a given period.Income Balance All net income earned from the factors of production labour (labour income) and

capital (investment income) from the rest of the world. Current Transfers Balance Transfers to and from the government of the Monetary Union, workers

remittances and other current transfers with the rest of the world.Capital and Financial Account Capital transfers and acquisition or disposal of nonproduced, nonfinancial assets

and financial assets and liabilities with the rest of the world.Net Change in International Reserves** The change in net international reserves of the Monetary Union due to foreign

exchange transactions in a given period, excl. gold.License Fee (in thousands NAf.) Total license fee (1% of payments abroad) collected on the Monetary Union.

8. Macroprudential Indicators Total Capital-to-Total Risk Assets (%) Tier 1 and Tier 2 capital as a percentage of total risk assets of the commercial

banks.Total Loans-to-Total Deposits (%) Loans as a percentage of total deposits of the commercial banks.Liquidity (in millions NAf.)* Total liquid assets of the commercial banks.Return-on-Assets (%) Net income before dividend and taxes as a percentage of total assets of the

commercial banks. Indicates how profitable the banks' assets are. Data are annualized.

Nonperforming Loans-to-Total Loans (%) Nonperforming loans as a percentage of total loans (excl. specific provisions).

* Stock value, end of period.** - Sign means an increase in reserves. 4/8/2014

22

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