| Currency | Euro (EUR) in French part; Netherlands Antillean guilder (ANG) in Dutch part; US dollar available in both side |
|---|---|
| calendar year | |
Trade organisations | Windward Islands Federation of Labour |
| Statistics | |
| Population | 38,247 Dutch side - 36,992 French side |
| GDP | $1.394 billion ($794.7 million Sint Maarten[1]/$599 million Saint Martin[2]) (2008 est, nominal) |
GDP growth | 1.6% (2008 est.) |
GDP per capita | $15,400 (2008 est.) |
GDP by sector | agriculture: 1%; industry: 15%; services: 84% (2009 est.)[3] |
| 1.2% (June 2015)[1] | |
Labour force | ~45,000 (23,200 in St. Maarten)'08[1] |
Labour force by occupation | agriculture: 1.2%; industry: 16.9; services: 83.7% (2006) |
| Unemployment | 11.5% (Census 2011 Labour & Income)[4] |
Main industries | tourism, light industry, heavy industry[5] |
| External | |
Export goods | sugar |
Main export partners | China 23.49% United States 10.91% Japan 5.92% (2009 est.)[1] |
Import goods | foods, manufactured goods, |
Main import partners | China 17.35% Japan 14.79% United States 8.96% Saudi Arabia 6.89% (2009 est.)[1] |
All values, unless otherwise stated, are in US dollars. | |
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The economy of Saint Martin, divided between the French Collectivity of Saint Martin (north side) and the Dutch Sint Maarten (south side), is predominately dependent on tourism. For more than two centuries, the main commodity exports have generally been salt and locally grown commodities, like sugar.
Until the island was affected by Hurricane Irma in 2017 and the COVID-19 pandemic in 2020, which put a stop to cruising, tourism accounted for 80% of the economy and about four-fifths of the labor force was engaged in that sector. As an island in the Caribbean Sea, Saint Martin enjoys the kind of weather and natural geography that supports tourism. Its proximity to the rest of the Caribbean has also provided economic benefits with its largest airport, Princess Juliana International Airport on the Dutch Sint Maarten side, serving as the main gateway to the Leeward Islands. The larger post-Panamax cruise ships made regular stops to the island. The island offers duty-free shopping and there are few business restrictions to hinder growth. Though the French and Dutch parts differ slightly in terms of their economies and types of tourists, they share the Caribbean's largest lagoon, which is frequented by yachts.
In 2013, nearly 1.8 million visitors came to the island by cruise ship and roughly 500,000 visitors arrived through Princess Juliana International Airport. Cruise ships and yachts also call on Saint Martin's numerous ports and harbors. Limited agriculture and local fishing means that almost all food must be imported. Energy resources and manufactured goods are also imported. The Dutch part of the island has the highest per capita income among the five islands that formerly comprised the Netherlands Antilles.[6][7]
- ^ a b c d e "CIA World Factbook:Sint Maarten". Archived from the original on 2010-12-06. Retrieved 24 April 2018.
- ^ INSEE, CEROM. "Estimation du PIB de Saint-Barthélemy et de Saint-Martin" (PDF). Archived (PDF) from the original on 28 November 2007. Retrieved 13 November 2007.
- ^ "CIA saint Martin". Retrieved 24 April 2018.[dead link]
- ^ "Department of Statistics - Sint Maarten". Archived from the original on 2015-10-29. Retrieved 2015-10-20.
- ^ "CIA Factbook:Saint Martin". Retrieved 24 April 2018.
- ^ "CIA Factbook : Saint Martin". Retrieved 24 April 2018.
- ^ "CIA Factbook : Sint Martin". Archived from the original on 2010-12-06. Retrieved 24 April 2018.