Economies of Bonaire and Statia grew in 2024, Saba’s contracted

Gross domestic product (GDP) of Bonaire grew by 4.0% in 2024. This growth was broad-based. The economy of St. Eustatius also grew, by 1.6%, mainly driven by growth in business services, public administration and the construction sector. In Saba, GDP contracted by 4%, mainly due to a decline in education and public ad­ministration.

Statistics Netherlands CBS reported this on the basis of newly released figures.

In Bonaire, the value added of numerous sectors grew in 2024. The economic value added by Bonaire’s energy, water and waste manage­ment sector rose by 11.0% in 2024, driven by higher production of electricity and water. Population growth of 5.0% and higher production in most sectors drove de­mand for these utilities.

Growth in the accommoda­tion and food services sector and the recreation sector co­incided with a higher number of tourists and a rise in the average disposable income of households. The number of tourists staying on the is­land rose by 7.4% compared with 2023, while disposable income increased by 15.0%.

The value added of the accommodation and food services sector increased by 8.0%. In the trade and health care sectors, value added rose by 6.0%.

Conversely, the agriculture, mining and quarrying, con­struction and manufacturing sectors saw a decline in value added, which is in line with changes in the number of jobs in these sectors. In the con­struction sector, production remained unchanged, but consumption increased, re­sulting in lower value added. Economic growth in St. Eu­statius in 2024 was mainly driven by the rise in value added of the business servic­es sector. Public administra­tion also contributed to eco­nomic growth, with labour volume rising by 7.2% in that sector.

In addition, the construc­tion sector expanded. By contrast, value added of the transport and information and communication sectors declined.

The education sector made the largest contribution to the economic contraction in Saba in 2024. A decline in student numbers led to a de­crease in value added to this sector.

Public administration also contributed to the contrac­tion in GDP, as the number of jobs in this sector fell by 1.6%. However, the value added by the trade, health care and accommodation and food services sectors in­creased.

The economy of Bonaire has grown significantly com­pared with 2014, while the economies of St. Eustatius and Saba have contracted. Bonaire’s GDP (adjusted for price changes) was more than 40% higher than in 2014. This growth is seen across most sectors.

St Eustatius’ GDP was nearly 30% lower than in 2014. This was mainly due to a decline in value added at a limited number of large enterprises. Saba’s economy also contracted compared with 2014, primarily due to a decline in the education sec­tor.

The Daily Herald.