CBS publishes the Results of the 2025 Business Cycle Survey
Willemstad – The Central Bureau of Statistics (CBS) has published the results of the 2025 Business Cycle Survey on its website.
The purpose of the survey is to collect up-to-date information on business developments, economic conditions, and entrepreneurs' perceptions of the investment climate in Curaçao. It is important to note that the survey is primarily based on the assessments and expectations of business owners and managers, rather than on final financial figures.
The Business Cycle Survey is an annual survey covering approximately 800 active businesses in Curaçao.
Below are some of the key findings from the 2025 Business Cycle Survey.
Assessment of the Economic Situation
In 2025, businesses assessed the economic situation less favorably than in 2024. The share of businesses reporting improved confidence in the economy remained at 29 percent. The share reporting no change declined from 62 percent to 58 percent, while the share reporting lower confidence increased from 9 percent to 13 percent.
Confidence in the Future
The share of businesses reporting confidence in the future declined from 75 percent in 2024 to 72 percent in 2025, while the share reporting no confidence increased from 5 percent to 18 percent. At the same time, the share of businesses expressing no opinion decreased from 20 percent to 10 percent.
Investment Climate
Compared with 2024, businesses' perceptions of the investment climate became more mixed in 2025. The share of businesses rating the investment climate as good increased from 32 percent to 40 percent. Conversely, the share rating the investment climate as moderate declined from 61 percent to 48 percent, while the share rating it as poor increased from 7 percent to 12 percent.
Business Results
Business results refer to whether businesses reported positive or negative business performance in the survey. In 2025, 76 percent of businesses reported positive business results, compared with 73 percent in 2024 and 69 percent in 2023. At the same time, the share of businesses reporting negative business results declined from 27 percent in 2024 to 24 percent in 2025.
Business Cycle Index
The Business Cycle Index continued to increase in 2025. The index rose from 72 in 2021 to 99 in 2022, 113 in 2023, 128 in 2024, and 133 in 2025. This represents the highest level recorded in the series and an increase of 61 index points compared with 2021.
Overall, the survey results indicate that business sentiment remained generally positive in 2025. However, differences in the assessments across the various indicators, company size categories, and economic sectors were more pronounced than in the previous year.
You can download the full report "Results Business Cycle Survey 2025" here.
CBS extends its sincere appreciation to all businesses that participated in the 2025 Business Cycle Survey. Without their valuable cooperation, it would not have been possible for CBS to publish these statistics and findings, which contribute to a better understanding of Curaçao's economic developments.