Countryguidebook 
Hainan, China
ARUBA
COUNTRIES A-Z
Aruba Economy
Country Name: Aruba
Capital City: Oranjestad
Population: 100,018
Population Growth: 1.522% 2007
Currency: Aruban guilder/florin (AWG)
Languages: Dutch
Area: 193 sq km
Inflation Rate: 3.4% (2005)
Unemployment Rate: 6.9% (2005)
Domain extension:
ECONOMIC DETAILS OF ARUBA
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.
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 - real growth rate:
2.4% (2005 est.)
GDP - per capita:
$21,800 (2004 est.)
GDP - by sector (agriculture):
agriculture: 0.4%
GDP - by sector (industry):
industry: 33.3%
GDP - by sector (services):
services: 66.3% (2002 est.)
Export Partners:
Netherlands 27.7%, Panama 25.5%, Colombia 12.8%, Venezuela 11.1%, US 9.4%, Netherlands Antilles 7.1% (2006)
Import Partners:
US 53.6%, Netherlands 12.9%, UK 3.6% (2006)
Export Commodities:
live animals and animal products, art and collectibles, machinery and electrical equipment, transport equipment
Import Commodities:
machinery and electrical equipment, crude oil for refining and reexport, chemicals; foodstuffs
Exports Volume:
$80 million f.o.b.; note - includes oil reexports (2004 est.)
Imports Volume:
$875 million f.o.b. (2004 est.)
Labour Force:
41,500 (2004 est.)
Unemployment Rate:
6.9% (2005 est.)
Population below poverty line:
NA%
Inflation Rate:
3.4% (2005)
Investment (gross fixed):
Public Debt:
46.3% of GDP (2005)
Agriculture Products:
aloes; livestock; fish
Industries:
tourism, transshipment facilities, oil refining
Industrial Production Growth Rate:
NA%
Electricity - production:
770 million kWh (2004)
Electricity - consumption:
716.1 million kWh (2004)
Electricity - exports:
0 kWh (2004)
Electricity - imports:
0 kWh (2004)
Oil - production:
2,363 bbl/day (2004)
Oil - consumption:
7,000 bbl/day (2004 est.)
Oil - exports:
NA bbl/day
Oil - imports:
NA bbl/day
Natural gas - production:
0 cu m (2004 est.)
Natural gas - consumption:
Natural gas - exports:
Natural gas - imports:
Current Account Balance:
Currency Code:
Aruban guilder/florin (AWG)