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Article: Netherlands Antilles
- Article from:
- Oxford Economic Country Briefings
- Article date:
- June 1, 2009
- Author:
CopyrightCopyright Oxford Economic Forecasting Jun 1, 2009. Provided by ProQuest LLC. (Hide copyright information)
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Highlights and Key Issues
* The tourism sector in Curaçao continued to grow through Q3 2008, with the total number of arrivals rising 1 6.3% from a year earlier. Total arrivals on the other four islands had also increased through Q2 2008. But with the global economy in recession, tourism is likely to feel the strain, dragging GDP down 4% this year.
* The current account deficit jumped to 1 7% of GDP in 2007 as imports surged on high fuel prices. And the deficit is estimated to have widened further in 2008 - by Q3 the gap had surged to 21.6% of GDP. But given the sharp drop in fuel prices, the deficit is forecast to ease to about 18% of GDP this year, and it will fall further in 2010-11 as ...