| 2012 | 92.2 | 97.7 | 95.7 |
|---|---|---|---|
| 2013 | 94.4 | 98.5 | 100.9 |
| 2014 | 95.9 | 91.8 | 100.7 |
| 2015 | 99.1 | 94.8 | 101.9 |
| 2016 | 101.3 | 93.8 | 101.4 |
| 2017 | 100.0 | 100.0 | 100.0 |
| 2018 | 103.9 | 88.2 | 97.5 |
| 2019 | 110.4 | 80.6 | 92.3 |
| 2020 | 101.2 | 59.7 | 86.5 |
| 2021 | 113.0 | 72.3 | 89.1 |
Higher growth in 2021 brings Bonaire’s GDP, adjusted for price developments, higher than in 2019, before the Covid-19 pandemic. This does not apply to St. Eustatius and Saba. In 2021, St. Eustatius’ GDP was projected to be 10 percent lower than in 2019, while Sabah’s GDP was projected to be 3 percent lower than in 2019.
Bonaire’s growth driven by tourism recovery
The number of tourists visiting Bonar by air increased from 66.0 thousand in 2020 to 111.3 thousand in 2021. This was due to less travel restrictions and other reasons. As a result, the value addition of the accommodation and food services sector and the culture and entertainment sectors, particularly casinos and diving schools, increased by 47.1 and 28.1 percent respectively. The business sector also benefited from increased tourism; Its value addition rose by 19.0 percent.
Demand for business services was also high. For example, tourist demand for rental cars increased, but strong growth was also recorded in employment agencies, notaries and accounting firms. Total value added in business services increased by 17.7 percent.
| Accommodation and food services | 47.1 |
|---|---|
| Culture, sports and entertainment | 28.1 |
| Trade | 19.0 |
| Business services | 17.7 |
| Production | 15.6 |
| Construction | 10.2 |
| Energy and water companies | 9.8 |
| Transport, Information and Communication | 5.5 |
| Hygiene | 5.5 |
| Financial services | 4.8 |
| Public administration | 4.1 |
| Real estate activities | 3.3 |
| Education | 2.0 |
| Agriculture and Mining and Quarrying | -21.3 |
In the construction sector, strong growth has continued in recent years. Value addition of construction companies increased by 10.2 percent in 2021. As a major supplier to the construction industry, the manufacturing sector also benefited from increased demand for construction services; Its value addition rose by 15.6 percent.
Only agriculture and mining and quarrying contracted in 2021. This is mainly due to low mineral extraction.
Considerable growth in St. Eustatius
The 21.1 percent economic growth in St. Eustatius was mainly driven by some of the largest companies on the island. Their production is mainly export oriented and depends on oil demand in the region. Demand for their products and services declined in 2020 due to the Covid-19 pandemic and remained at low levels in 2021. Even so, their value increased as operating costs were reduced in 2021.
Although these companies have a significant impact on St. Eustatius’ GDP, their impact on national income is minimal. The profits of these companies are not included in national income because they are wholly owned by foreign companies; They contribute significantly to the island’s labor income.
Compared to 2017, the volume of GDP in St. Eustatius fell by 38 percent in 2021, from 142 million to 103 million USD (at 2017 prices). This was due to several factors. In 2018, Hurricane Irma caused extensive damage to the island. In 2019, several major companies were heavily hampered by regional developments in the oil industry, which reduced demand for oil storage. On top of that, the COVID-19 pandemic hit in 2020, further reducing the demand for oil storage and the number of tourists visiting the island. In 2021, the economy has yet to return to pre-pandemic levels, as hard-hit sectors such as accommodation and food services and transport saw only modest growth in 2021. The main reason for this is that fewer tourists visit the island. 2021 rather than 2019, the period before the coronavirus crisis. In that year, 10.5 thousand tourists visited St. Eustatius by air, and in 2021 there were 3.6 thousand.
| 2013 | 0.8 | 5.5 |
|---|---|---|
| 2014 | -6.8 | -0.2 |
| 2015 | 3.2 | 1.2 |
| 2016 | -1.0 | -0.5 |
| 2017 | 6.6 | -1.4 |
| 2018 | -11.8 | -2.5 |
| 2019 | -8.6 | -5.3 |
| 2020 | -25.9 | -6.3 |
| 2021 | 21.1 | 3.0 |
Also some recovery for Sabah due to inbound tourism
From May 1, 2021, the number of tourists traveling to Sabah by air increased from 2.7 thousand in 2020 to 4.0 thousand in 2021 as Sabah began to welcome tourists from low-risk countries again. This has also resulted in high demand for restaurant, hotel and taxi services. Electricity on the island grew by 3.0 percent of Sabah’s GDP in 2021. Growth was dampened by a decline in value added in public administration and education.
Papiamento
A Papiamentu translation of this news release can be obtained from Statistics Netherlands’ office in Bonaire: [email protected]