WILLEMSTAD – Curaçao and Sint Maarten recorded a major improvement in their external financial position during 2025, with tourism revenues helping to sharply reduce the monetary union’s current account deficit and boost foreign exchange reserves, according to the Central Bank of Curaçao and Sint Maarten (CBCS).
The CBCS reported that the current account deficit of the monetary union narrowed dramatically from 17 percent of GDP in 2024 to just 8 percent in 2025. The improvement was largely driven by higher earnings from tourism and related services in both countries, combined with a lower import bill resulting from declining oil prices.
For Curaçao, continued growth in stay-over tourism and cruise arrivals generated additional foreign exchange income, helping strengthen the island’s external accounts. The report noted that higher net exports of goods and services played a key role in improving the overall balance of payments position.
As a result, the monetary union’s gross official reserves increased by 402.4 million guilders during 2025. External financing and capital transfers from abroad more than covered the remaining current account deficit, allowing the reserve position to strengthen considerably.
Import coverage, one of the key indicators of external stability, rose from 4.5 months at the end of 2024 to 4.9 months by December 2025. This remains well above the international benchmark of three months and is considered a sign of a healthy reserve position.
The findings underscore the growing importance of tourism not only as a driver of economic growth but also as a crucial source of foreign exchange earnings. According to the CBCS, the sector’s strong performance helped improve the monetary union’s overall financial resilience while supporting economic expansion across both Curaçao and Sint Maarten.