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    Aruba Economy - 1989

      Overview: Tourism is the mainstay of the economy. In 1985 the economy suffered a severe blow when Exxon closed its refinery, a major source of employment and foreign exchange earnings. Economic collapse was prevented by soft loans from the Dutch Government and a booming tourist industry. Development of both manufacturing and agriculture are limited by a lack of natural resources.

      GNP: $510 million, per capita $8,210; real growth rate 10% (1987)

      Inflation rate (consumer prices): 3.7% (1987)

      Unemployment rate: 14.5% (1987)

      Budget: revenues $129 million; expenditures $198 million, including capital expenditures of $66 million (1987)

      Exports: $26.1 million (f.o.b., 1987); @m5commodities--mostly petroleum products; @m5partners--US 64%, EC

      Imports: $236 million (c.i.f., 1987); @m5commodities--food, consumer goods, manufactures; @m5partners--US 8%, EC

      External debt: $81 million (1987)

      Industrial production: growth rate - 20% (1984)

      Electricity: 310,000 kW capacity; 945 million kWh produced, 15,160 kWh per capita (1988)

      Industries: tourism, transshipment facilities

      Agriculture: poor quality soils and low rainfall limit agricultural activity to the cultivation of aloes

      Aid: NA

      Currency: Aruban florin (plural--florins); 1 Aruban florin (Af.) = 100 cents

      Exchange rates: Aruban florins (Af.) per US$1--1.7900 (fixed rate since 1986)

      Fiscal year: calendar year

      NOTE: The information regarding Aruba on this page is re-published from the 1989 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Aruba Economy 1989 information contained here. All suggestions for corrections of any errors about Aruba Economy 1989 should be addressed to the CIA.

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    Revised 15-Apr-03
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