Households on Statia have the highest average disposable income, when compared to the other Islands within the Caribbean Netherlands. Also on this Island CBS recorded the highest differences in disposable income. Disposable income is defined as income from labour, running one’s own business, property, benefits and transfers received minus income transfers paid, employee insurance premiums, healthcare insurance premiums and tax on income and property. (The exchange rate over the month of December 2011 averaged 1 USD = 0.76 euros).
Largest income difference recorded on St. Eustatius
On Bonaire the average disposable household income was 21.1 thousand dollars. On Saba it was 20 thousand dollars and on Statia it was 23.3 dollars. This income varied between 6 thousand dollars for the lowest income bracket on all islands and approximately 60 thousand dollars on Statia. On Bonaire and Saba the average disposable income of the highest incomes quartile was 52 and 48 thousand dollars respectively.
Saba has the smallest share of households with primary income
Most households generated income from labour, running an own business and property (primary income). On Bonaire and Statia the share of households with mainly a primary income was 89 percent. On Saba this was 83 percent. The disposable income of households mainly relying on benefits was well over 6 thousand dollars on Bonaire and Statia and nearly 7 thousand dollars on Saba.
40 to 60-year-olds on Statia have highest incomes
In general a person’s income level is related to their life stage. Young people at the start of their professional career earn relatively low wages. When they grow older, their income from labour increases because they gain more work experience and they gain access to better-paying jobs. When they reach the retirement age of 60, their income falls back again).
This pattern is also noticeable in incomes on the Caribbean Netherlands. On all three islands, households with a main breadwinner in the age category of 40 to 60 years accounted for the highest incomes. On Statia the average income of these types of households was 28 thousand dollars, on Saba 24 thousand dollars and on Bonaire 25 thousand dollars. Also in the youngest age group up to 40 years Statia turned out to be the most prosperous island with an income of 21 thousand dollars.
On the other hand, the income of persons aged 60 and over, mounted up to 14 thousand dollars . This income was much lower than on Bonaire (approximately 20 thousand dollars). On Saba the income of persons aged 60 and over was 18 thousand dollars.
Disposable income is defined as income from labour, running one’s own business, property, benefits and transfers received minus income transfers paid, employee insurance premiums, healthcare insurance premiums and tax on income and property. (The exchange rate over the month of December 2011 averaged 1 USD = 0.76 euros).
Average or median income is the midpoint of the distribution of income into two equal groups by size. This means that exactly half of the population has an income below or equal to this midpoint.
Primary income is defined as income from labour, income from running one’s own business and income from property. Since it is not possible in the Caribbean Netherlands to distinguish between collective supplementary pension and wage, it is included in income from labour.
Transfer income is defined as income without any directly demonstrable reciprocation through the production of goods or services. For example, when receiving social benefits such as a government pension (AOW) and an unemployment benefit (WW).