business - export
Vital to the Economy of Curaçao
The Export of Services Before we ask why the export of services is important, we should take a look at what the export of services encompasses. It is basically the trade of services and goods with other countries; any type of service or good that is being sold to a non-resident. text Heather de Paulo and Dennis Dare, Curaçao Chamber of Commerce Senior Economist
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C u r a ç a o b u s i ne s s
| number 1 | 2013
According to the International Standard Industrial Classification, the following categories are all defined as services: trade, hotels and restaurants, transport, storage and communication, financial, insurance, real estate and business services, as well as community, social and personal services. Export services that have a significant impact on Curaçao’s economy include oil refining, tourism and financial services. Shipping, international trade, and other activities related to the port of Willemstad (like the Free trade zone) also have a significant impact. A major share of the economic activity on Curaçao, approximately 82%, is comprised of services, which is equivalent to almost 4.5 billion ANG. Looking back at Curaçao’s economic and export history, the first profitable industry was salt mining from the saline-rich ponds located in the eastern part of the island. Salt was a lucrative export at that time and became one of the major
