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REPORT OF THE PRESIDENT
The COVID-19 coronavirus pandemic continued to take a severe toll on economic activity across the monetary union of Curaçao and Sint Maarten during the third quarter of 2020. Even though the measures to contain the local spread of the virus were relaxed, real GDP shrank significantly in both countries due primarily to a substantially lower level of tourism activity than before the virus crisis. As a result, in the third quarter of 2020, real GDP in Curaçao fell by an estimated 20.4% while Sint Maarten recorded a real GDP contraction of 29.9%.