| People | Aruba |
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Economy - overview:
|
Tourism is the mainstay of the small, open Aruban economy, with offshore banking and oil refining and storage also important. 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. In addition, the country's oil refinery reopened in 1993, providing a major source of employment, foreign exchange earnings, and growth. Tourist arrivals have rebounded strongly following a dip after the 11 September 2001 attacks. The island experiences only a brief low season, and hotel occupancy in 2004 averaged 80%, compared to 68% throughout the rest of the Caribbean. The government has made cutting the budget and trade deficits a high priority. |
GDP (purchasing power parity):
|
$2.258 billion (2005 est.) |
GDP (official exchange rate):
|
$2.258 billion (2005 est.) |
GDP - real growth rate:
|
2.4% (2005 est.) |
GDP - per capita (PPP):
|
$21,800 (2004 est.) |
GDP - composition by sector:
|
agriculture: 0.4%
industry: 33.3%
services: 66.3% (2002 est.) |
Investment (gross fixed):
|
void |
Population below poverty line:
|
NA% |
Household income or consumption by percentage share:
|
lowest 10%: NA%
highest 10%: NA% |
Distribution of family income - Gini index:
|
void |
Inflation rate (consumer prices):
|
3.4% (2005) |
Labor force:
|
41,500 (2004 est.) |
Labor force participation rate:
|
40.87 % of population |
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; oil refining |
Unemployment rate:
|
6.9% (2005 est.) |
Budget:
|
revenues: $507.9 million
expenditures: $577.9 million (2005 est.) |
Budget revenues per capita:
|
5,002 USD per capita |
Public debt:
|
46.3% of GDP (2005) |
Industries:
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tourism, transshipment facilities, oil refining |
Industrial production growth rate:
|
NA% |
Electricity - production:
|
770 million kWh (2005) |
Electricity - production per capita:
|
7,584 kWh per capita |
Electricity - consumption:
|
716.1 million kWh (2005) |
Electricity - consumption - per capita:
|
7,053 kWh per capita |
Electricity - exports:
|
0 kWh (2005) |
Electricity - imports:
|
0 kWh (2005) |
Oil - production:
|
2,356 bbl/day (2005) |
Oil - production per capita:
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23,203 bbl/day per capita |
Oil - consumption:
|
7,000 bbl/day (2005 est.) |
Oil - consumption - per capita:
|
25.16 bbl/year per capita |
Oil - exports:
|
230,600 bbl/day (2004) |
Oil - imports:
|
235,000 bbl/day (2004) |
Oil - proved reserves:
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0 bbl (1 January 2006 est.) |
Natural gas - production:
|
0 cu m (2005 est.) |
Natural gas - production per capita:
|
void |
Natural gas - consumption:
|
0 cu m (2005 est.) |
Natural gas - consumption - per capita:
|
void |
Natural gas - exports:
|
0 cu m (2005 est.) |
Natural gas - imports:
|
0 cu m (2005) |
Natural gas - proved reserves:
|
0 cu m (1 January 2006) |
Agriculture - products:
|
aloes; livestock; fish |
Current account balance:
|
void |
Current account balance - per capita:
|
void |
Exports:
|
$124 million f.o.b.; note - includes oil reexports (2006) |
Exports per capita:
|
1,222 USD per capita |
Exports - commodities:
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live animals and animal products, art and collectibles, machinery and electrical equipment, transport equipment |
Exports - partners:
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Netherlands 27.7%, Panama 25.5%, Colombia 12.8%, Venezuela 11.1%, US 9.4%, Netherlands Antilles 7.1% (2006) |
Imports:
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$1.054 billion f.o.b. (2006) |
Imports per capita:
|
10,381 USD per capita |
Imports - commodities:
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machinery and electrical equipment, crude oil for refining and reexport, chemicals; foodstuffs |
Imports - partners:
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US 53.6%, Netherlands 12.9%, UK 3.6% (2006) |
Reserves of foreign exchange and gold:
|
void |
Reserves of foreign exchange and gold - per capita:
|
void |
Debt - external:
|
$478.6 million (2005 est.) |
Debt - external - per capita:
|
4,714 USD per capita |
Stock of direct foreign investment - at home:
|
void |
Stock of direct foreign investment - abroad:
|
void |
Market value of publicly traded shares:
|
void |
Economic aid - donor:
|
void |
Economic aid - recipient:
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$11.3 million (2004) |
Economic aid - recipient per capita:
|
112 USD per capita |
Currency (code):
|
Aruban guilder/florin (AWG) |
Exchange rates:
|
Aruban guilders/florins per US dollar - NA (2007), 1.79 (2006), 1.79 (2005), 1.79 (2004), 1.79 (2003) |
Fiscal year:
|
calendar year |
|
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