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EconomyEconomy - overview
Tourism and offshore banking are the mainstays of the small open Aruban economy. Oil refining and storage ended in 2009. The rapid growth of the tourism sector over the last decade has resulted in a substantial expansion of other activities. Over 1.5 million tourists per year visit Aruba with 75% of those from the US. Construction continues to boom with hotel capacity five times the 1985 level. Tourist arrivals rebounded strongly following a dip after the 11 September 2001 attacks. The government has made cutting the budget and trade deficits a high priority. Gdp (purchasing power parity) World Ranking: 185
$2.258 billion (2005 est.)
$2.205 billion (2004 est.) Gdp (official exchange rate)
$2.258 billion (2005 est.)
Gdp - real growth rate World Ranking: 139
2.4% (2005 est.)
Gdp - per capita (ppp) World Ranking: 59
$21,800 (2004 est.)
Gdp - composition by sector
Agriculture 0.4%
Industry 33.3% Services 66.3% (2002 est.) Labor force World Ranking: 194
41,500 (2004 est.)
Labor force - by occupation
Agriculture NA%
Industry NA% Services NA% Note Most employment is in wholesale and retail trade and repair, followed by hotels and restaurants Unemployment rate World Ranking: 78
6.9% (2005 est.)
Population below poverty line
NA%
Household income or consumption by percentage share
Lowest 10% NA%
Highest 10% NA% Budget
Revenues $547 million
Expenditures $637.4 million (2011 est.) Taxes and other revenues World Ranking: 128
24.2% of GDP (2011 est.)
Budget surplus (+) or deficit (-) World Ranking: 126
-4% of GDP (2011 est.)
Public debt World Ranking: 61
46.3% of GDP (2005)
Inflation rate (consumer prices) World Ranking: 109
4.4% (2011 est.)
2.1% (2010 est.) Central bank discount rate World Ranking: 104
1% (31 December 2010 est.)
3% (31 December 2009 est.) Commercial bank prime lending rate World Ranking: 91
9.66% (31 December 2011 est.)
10.3% (31 December 2010 est.) Stock of narrow money World Ranking: 151
$868.6 million (31 December 2011 est.) $865 million (31 December 2009) Stock of broad money World Ranking: 151
$1.765 billion (31 December 2011 est.) $1.762 billion (31 December 2010 est.) Stock of domestic credit World Ranking: 150
$1.412 billion (31 December 2010 est.) $1.42 billion (31 December 2010 est.) Agriculture - products
Aloes; livestock; fish
Industries
Tourism, transshipment facilities, banking Industrial production growth rate
NA%
Electricity - production World Ranking: 147
910 million kWh (2008 est.)
Electricity - consumption World Ranking: 149
846.3 million kWh (2008 est.)
Electricity - exports
0 kWh (2009 est.)
Electricity - imports
0 kWh (2009 est.)
Oil - production World Ranking: 103
2,477 bbl/day (2010 est.)
Oil - consumption World Ranking: 158
8,000 bbl/day (2010 est.)
Oil - exports World Ranking: 55
206,400 bbl/day (2009 est.)
Oil - imports World Ranking: 42
234,000 bbl/day (2009 est.)
Oil - proved reserves World Ranking: 104
0 bbl (1 January 2011 est.)
Natural gas - production World Ranking: 93
1 cu m (2009 est.)
Natural gas - consumption World Ranking: 112
1 cu m (2009 est.)
Natural gas - exports World Ranking: 48
1 cu m (2009 est.)
Natural gas - imports World Ranking: 75
1 cu m (2009 est.)
Natural gas - proved reserves World Ranking: 148
0 cu m (1 January 2011 est.)
Exports World Ranking: 151
$1.276 billion (2011 est.)
$265.8 million (2010 est.) Exports - commodities
Live animals and animal products, art and collectibles, machinery and electrical equipment, transport equipment Exports - partners
US 83.6% (2011)
Imports World Ranking: 159
$2.016 billion (2011 est.)
$1.343 billion (2010 est.) Imports - commodities
Machinery and electrical equipment, crude oil for refining and reexport, chemicals; foodstuffs Imports - partners
US 50%, Netherlands 9.1%, Brazil 7%, UK 4.7% (2011) Debt - external World Ranking: 171
$478.6 million (2005 est.)
Exchange rates
Aruban guilders/florins (AWG) per US dollar - 1.79 (2011 est.)1.79 (2010 est.) Fiscal year
Calendar year
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Aruba [ Netherlands ] (Kingdom Of The Netherlands):
 
GPS points from Aruba [ Netherlands ] (Kingdom Of The Netherlands)
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Discovered and claimed for Spain in 1499, Aruba was acquired by the Dutch in 1636. The island's economy has been dominated by three main industries. A 19th century gold rush was followed by prosperity brought on by the opening in 1924 of an oil refinery. The last decades of the 20th century saw a boom in the tourism industry. Aruba seceded from the Netherlands Antilles in 1986 and became a separate, autonomous member of the Kingdom of the Netherlands. Movement toward full independence was halted at Aruba's request in 1990.