| Economy | Aruba |
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Economy - overview:
|
Tourism is the mainstay of the small open Aruban economy, together with offshore banking. 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):
|
$2.258 billion (2005 est.)
$2.205 billion (2004 est.) |
GDP - per capita (PPP):
|
$21,800 (2004 est.) |
GDP (official exchange rate):
|
$2.258 billion (2005 est.) |
GDP - real growth rate:
|
2.4% (2005 est.) |
GDP - composition by sector:
|
agriculture: 0.4%
industry: 33.3%
services: 66.3% (2002 est.) |
Investment (gross fixed):
|
NA% |
Population below poverty line:
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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):
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3% (2011 est.)
2.1% (2010 est.) |
Central bank discount rate:
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1% (31 December 2010 est.)
3% (31 December 2009 est.) |
Commercial bank prime lending rate:
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10% (31 December 2011 est.)
10.3% (31 December 2010 est.) |
Stock of money:
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$781 million (31 December 2008)
$640.9 million (31 December 2007) |
Stock of money - per capita:
|
7,361 USD per capita |
Stock of quasi money:
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$890.3 million (31 December 2008)
$792.9 million (31 December 2007) |
Stock of quasi money - per capita:
|
8,391 USD per capita |
Stock of domestic credit:
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$1.412 billion (31 December 2010 est.)
$1.322 billion (31 December 2009 est.) |
Stock of domestic credit - per capita:
|
13,307 USD per capita |
Stock of narrow money:
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$762.8 million (31 December 2010)
$865 million (31 December 2009) |
Stock of broad money:
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$1.753 billion (31 December 2010 est.)
$1.771 billion (31 December 2009 est.) |
Labor force:
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41,500 (2004 est.) |
Labor force participation rate:
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39.11 % of population |
Labor force - by occupation:
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agriculture: NA%
industry: NA%
services: NA%
note: most employment is in wholesale and retail trade and repair, followed by hotels and restaurants |
Unemployment rate:
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6.9% (2005 est.) |
Unemployment, youth ages 15-24:
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total: 23.2%
male: 24.1%
female: 22.9% (2007) |
Budget:
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revenues: $670.6 million
expenditures: $783.7 million (2011 est.) |
Budget revenues per capita:
|
6,320 USD per capita |
Taxes and other revenues:
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29.7% of GDP (2011 est.) |
Budget surplus (+) or deficit (-):
|
-5% of GDP (2011 est.) |
Public debt:
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46.3% of GDP (2005) |
Industries:
|
tourism, transshipment facilities |
Industrial production growth rate:
|
NA% |
Electricity - production:
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910 million kWh (2008 est.) |
Electricity - production per capita:
|
8,576 kWh per capita |
Electricity - consumption:
|
846.3 million kWh (2008 est.) |
Electricity - consumption - per capita:
|
7,976 kWh per capita |
Electricity - exports:
|
0 kWh (2009 est.) |
Electricity - imports:
|
0 kWh (2009 est.) |
Oil - production:
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2,477 bbl/day (2010 est.) |
Oil - production per capita:
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23,344 bbl/day per capita |
Oil - consumption:
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8,000 bbl/day (2010 est.) |
Oil - consumption - per capita:
|
27.52 bbl/year per capita |
Oil - exports:
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206,400 bbl/day (2009 est.) |
Oil - imports:
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234,000 bbl/day (2009 est.) |
Oil - proved reserves:
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0 bbl (1 January 2011 est.) |
Natural gas - production:
|
1 cu m (2009 est.) |
Natural gas - production per capita:
|
1 cu m per capita |
Natural gas - consumption:
|
1 cu m (2009 est.) |
Natural gas - consumption - per capita:
|
1 cu m per capita |
Natural gas - exports:
|
1 cu m (2009 est.) |
Natural gas - imports:
|
1 cu m (2009 est.) |
Natural gas - proved reserves:
|
0 cu m (1 January 2011 est.) |
Agriculture - products:
|
aloes; livestock; fish |
Current account balance:
|
$67.1 million (2011 est.)
-$75.1 million (2010 est.) |
Current account balance - per capita:
|
633 USD per capita |
Exports:
|
$4.348 billion (2011 est.)
note: $1.589 billion (2010 est.) |
Exports per capita:
|
40,976 USD per capita |
Exports - commodities:
|
live animals and animal products, art and collectibles, machinery and electrical equipment, transport equipment |
Exports - partners:
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Colombia 27.2%, Panama 22.2%, Netherlands Antilles 15.2%, Venezuela 15.1%, US 5.9%, Netherlands 5.1% (2010) |
Imports:
|
$4.722 billion (2011 est.)
$2.063 billion (2010 est.) |
Imports per capita:
|
44,500 USD per capita |
Imports - commodities:
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machinery and electrical equipment, crude oil for refining and reexport, chemicals; foodstuffs |
Imports - partners:
|
US 50.8%, Netherlands 12%, UK 6.3% (2010) |
Reserves of foreign exchange and gold:
|
$725.1 million (31 December 2010 est.)
$701.1 million (31 December 2009 est.) |
Reserves of foreign exchange and gold - per capita:
|
6,834 USD per capita |
Debt - external:
|
$478.6 million (2005 est.) |
Debt - external - per capita:
|
4,511 USD per capita |
Stock of direct foreign investment - at home:
|
void |
Stock of direct foreign investment - at home - per capita:
|
void |
Stock of direct foreign investment - abroad:
|
void |
Stock of direct foreign investment - abroad - per capita:
|
void |
Market value of publicly traded shares:
|
void |
Market value of publicly traded shares - per capita:
|
void |
Currency (code):
|
Aruban guilder/florin (AWG) |
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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