It is important to note that the bulk of foreign exchange income from Venezuela is generated from the refining activities of the Isla refinery. In the second pie chart, it is shown that Venezuela’s share in Curaçao’s import of goods and services is 16.5%, thereby making it the second highest after the United States.
Last year its GDP grew by 3.3%, whereas the euro area’s GDP shrank by 0.4%. Quite remarkably, Lithuania managed to reboot its economy without any external support. The Baltic countries have demonstrated that adjustment is possible – even without currency devaluation. While Lithuania’s government deficit stood at 9.4% in 2009, last year it had fallen to 2.1% and is expected to decline further.