The Netherlands Antilles obtained full independence in 1954, today the island nation is a full autonomous country within the Kingdom of the Netherlands. The Dutch government is responsible for defense and foreign affairs. The Netherlands Antilles consists of five islands amongst two separate regions of the Caribbean. The first group lies just north of Venezuela by about 70km, the other group with three islands lies to the north by 880km just to the east of Puerto Rico. The quality of life is good for its 221,000 citizens (July 2006), life expectancy is good although unemployment is relatively high at 16 percent. Major industry groups include tourism, petroleum refining and offshore banking.
Economic Statistics
Total GDP at $2.8 billion (2004) as measured by purchasing power parity with corresponding GDP/Capita at $16,000 USD. GDP growth for 2004 at 1 percent, year 2006 came in at 1.8 percent, 2007 is estimated at 2.7 percent. Inflation for 2002 at 0.4 percent, 2003 at 2.1 percent, inflation for 2006 to average at 2.8 percent, 2007 projected at 2.5 percent. The trade deficit is high at $2.3 billion USD for 2004, the resulting current account shortfall is 3.6 percent of GDP as measured in QTR2 2006. Public debt is high at 85 percent of GDP, 2006 QTR2 fiscal deficit at 3.7 percent. International reserves came in at $575 million for 2006 equivalent to only 2.4 months of import coverage.
CURRENCY: ISO Symbol ‘ANG’, Netherlands Antilles guilders, guilden (plural). At time of review on January 26, 2007, the Netherlands Antillean guilder was quoted at 1.79 ANG to the US-dollar (USD) and/or 2.311 ANG to the Euroland euro (EUR). The USD circulates freely on all five islands.
CURRENCY HISTORY:the ANG has been pegged to the USD at 1.79 ANG since year 1971.
CURRENCY FORECAST: the ANG reveals currency weakness with respect to weak GDP growth, no oil production, a current account/fiscal/trade deficit, high government debt, low international reserves, etc. The ANG warrants to be in a higher risk category, the ANG is vulnerable primarily due too its small size economy.
UPDATED: January 26, 2007
