Economic Activities in Curacao: Primary, Secondary, Tertiary, and Quaternary

Curacao, with a population of approximately 155,967 (2024), is ranked 171st in the world, just behind Samoa. Located in the Caribbean Sea, it covers 444 square kilometers, ranking 174th globally, below Seychelles.

As of 2024, Curacao’s GDP was approximately $3.26 billion, ranking among the smaller economies globally. The country’s GDP per capita was approximately $22,833 in 2024 (up from about $21,218 in 2023), placing it among the higher-income territories in the Caribbean.

Curacao’s economic position reflects a moderate standing in the global economy, with room for growth and development in various sectors to enhance its economic performance and competitiveness on the international stage.

What are the economic activities of Curacao?

• Primary activities: 0.7% of GDP.
• Secondary activities: 15.5% of GDP.
• Tertiary activities: 83.8% of GDP.

Primary Sector of Curacao

Curacao’s primary sector, mainly agriculture, thrives due to its tropical climate and fertile land. Agricultural land covers 20% of the country. Key products include aloe, sorghum, peanuts, vegetables, and tropical fruits. Despite contributing 0.7% to the GDP, agriculture plays a vital role in providing food security and preserving traditional practices.

The diverse range of crops and animal products highlights the sector’s significance in sustaining local livelihoods and promoting self-sufficiency.

Curacao’s geology is dominated by limestone terraces and older volcanic rock. Calcium phosphate was historically mined on the island, and its naturally protected deep-water harbor at Willemstad remains a key economic asset, supporting maritime trade, transshipment, and port-related services.

Secondary Sector of Curacao

What is the secondary sector or what are secondary activities?The secondary sector consists of industries that transform raw materials into finished products for consumption. In Curacao, the main industrial products include petroleum refining, petroleum transshipment, light manufacturing, and financial and business services. These industries play a vital role in the country’s economy by adding value to raw materials and providing goods and services for both domestic and international markets.In 2023, Curacao’s total exports are dominated by industries other than manufactures, making their contribution relatively insignificant in the country’s overall export composition.

Tertiary sector of Curacao

What is the tertiary sector or what are tertiary activities?The tertiary sector, also known as the service sector, encompasses intangible goods and services that enhance productivity and meet various needs. In Curacao, prominent tertiary activities include restaurants, healthcare and medical care, education and training, banking and finance, communication and information exchange, tourism and hospitality, and transportation and logistics. These services play a crucial role in supporting the island’s economy and enhancing the quality of life for its residents.Highlighting these, Curacao’s economy heavily relies on tourism, contributing significantly to its GDP. In 2024 the island recorded a record of roughly 1,570,670 total visitor arrivals (about 700,000 stayover and 835,000 cruise passengers), around ten times its population, and the industry thrives. Popular destinations like the vibrant Willemstad and the stunning Kenepa Beach attract visitors seeking cultural richness and natural beauty, driving economic growth.Another example of tertiary economic activity is the mobile cellular sector, with approximately 168,000 subscriptions, supporting technological growth. With 88 subscriptions per 100 inhabitants, it enhances connectivity and innovation.

International Trade of Curacao

Import Activities of Curacao

The import activities of Curacao are of high importance, with imports totaling $1.29 billion, accounting for 41.95% of the country’s GDP in 2023.Curacao’s import activities are diverse, with its top partners being the US and the Netherlands. Key imports include refined petroleum, cars, garments, integrated circuits, and packaged medicine, sourced from countries like China, Ecuador, and the Philippines.

Exports Activities of Curacao

Curacao’s total exports in 2023 amounted to $255 million, representing 8.29% of its GDP. With a low export-to-GDP ratio, export activities hold relatively low importance for the country’s economy.Curacao’s export activities are diverse, with top partners like the US and Costa Rica. Key commodities include refined petroleum, fish, and scrap iron.

Curacao economy challenges in 2024

As of 2025, the island’s 335,000 b/d Isla refinery in Emmastad has remained shut since 2019, when the lease with Venezuela’s PdVSA expired, removing a once-major source of export earnings and employment. Government holding company RdK and partners have continued to seek operators and US regulatory approvals to restart refining or repurpose the Bullenbaai terminal as an oil transshipment hub, but the refinery’s future remains uncertain. Tourism, meanwhile, has rebounded strongly to record levels, and Curacao continues to diversify toward offshore finance, logistics, and information-technology services while managing relatively high public debt.

Sources

• World Bank Open Data: Curacao
• CIA World Factbook: Curacao
• Central Bureau of Statistics Curacao: Economy
• IMF DataMapper: Curacao
• UN Comtrade Plus: Trade Flow

Last updated: June 20, 2026