Update & Summary Short Economic Review Curacao (STER)

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After a tipping point in the fourth quarter of 2013 there is no strong signal of continuing a recovery of overall economic activity in the first quarter of 2014. The development of economic activity stayed under trend level in the first quarter of 2014. Especially performance in Tourism and Construction stagnate.

The first estimate of economic growth (gross domestic product, seasonally adjusted, at annual rate) in the first quarter of 2014 is -¾%. The second estimate for the fourth quarter of 2013 is -0.3% (first estimate: -¼%)1.

The development in tourism (tourist arrivals) of Curacao is compared to the Caribbean region. The Curacao market share of tourism in the Caribbean region, measured in tourist arrivals, increased from a flat 1.5% in the period 2004 - 2006 to 2.4% in 2013. However, the first quarter of 2014 showed weak performance in tourist arrivals for Curacao compared to the Caribbean benchmark.

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