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    Aruba Economy - 1990

      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 by a booming tourist industry. Hotel capacity expanded by 20% between 1985 and 1987 and is projected to more than double by 1990. Unemployment has steadily declined from about 20% in 1986 to about 3% in 1988.

      GDP: $620 million, per capita $10,000; real growth rate 16.7% (1988 est.)

      Inflation rate (consumer prices): 4% (1988 est.)

      Unemployment rate: 3% (1988 est.)

      Budget: revenues $145 million; expenditures $185 million, including capital expenditures of $42 million (1988)

      Exports: $47.5 million (f.o.b., 1988 est.); commodities--mostly petroleum products; partners--US 64%, EC

      Imports: $296.0 million (c.i.f., 1988 est.); commodities--food, consumer goods, manufactures; partners--US 8%, EC

      External debt: $81 million (1987)

      Industrial production: growth rate - 20% (1984)

      Electricity: 310,000 kW capacity; 945 million kWh produced, 15,120 kWh per capita (1989)

      Industries: tourism, transshipment facilities

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

      Aid: none

      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 1990 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Aruba Economy 1990 information contained here. All suggestions for corrections of any errors about Aruba Economy 1990 should be addressed to the CIA.

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    Revised 07-Feb-03
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