Sint Maarten Marine Trade Association
 

Marine Sector Responsible for 12.5% of St. Maarten's Total Economy

For a long time, quality statistics for the maritime sector on St. Maarten have been lacking. In 2008, the St. Maarten Marine Trades Association commissioned The Central Bureau of Statistics (CBS) to survey member companies in the sector, to determine the value of the group as a whole to the economy on St. Maarten.

The companies in this survey included businesses that service vessels; including riggers, ship wrights, mechanics, electricians, paint specialists, marinas, ships agents and other Marine Specific Tradesmen. Also included were those businesses making the majority of their turnover on water based activities, such as charter vessels, and fishing vessels; and those that support the marine tourism industry through grocery supplies, transportation services, florists and other non-Marine specific businesses that provide goods and services used by yachts and yacht crew.
Over 80 companies were included in the survey. The Percentage of Gross Domestic Product, Number of Employees, Value of Wages and Salaries, Value Added (BBP); and Investments in Fixed Assets were all studied. The results show that the marine sector is by all accounts a considerable contributor to the overall economy of St. Maarten.
Over the year 2007, St. Maarten's Marine Industry in total produced Naf. 399 Million, representing 16.3% of the overall production of the businesses on St. Maarten with a total of Naf. 2,450.5 million. By comparison the Hotel and Restaurant industry produced Naf. 326.2 million or 13.3% of the total production. The value to the total economy of St. Maarten lies at 12.5%, compared to 9.5% for the Hotel and Restaurant industry.
In terms of wages and number of employees, 2,794 employees (17.2% of the total work force) earned Naf 106.5 million representing 16.9% of the total wages & salaries earned on the Island. Capital Investments in the marine sector ranked at just under 15% of the total investments in fixed assets for the year 2007.
The St. Maarten Marine Trades Association is pleased with this new statistical analysis and hopes that it will assist in further planning of the sector and that CBS will continue to monitor and survey this important sector.

 

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