Overview: Tourism is the mainstay of the economy, although offshore banking and oil refining and storage are also important. Hotel capacity expanded rapidly between 1985 and 1989 and nearly doubled in 1990 alone. Unemployment has steadily declined from about 20% in 1986 to about 2% in 1990. The reopening of the local oil refinery, once a major source of employment and foreign exchange earnings, promises to give the economy an additional boost.

GDP: $730 million, per capita $11,600; real growth rate 8.8% (1989 est.)

Inflation rate (consumer prices): 5.8% (1990 est.)

Unemployment rate: 1.6% (1990 est.)

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

Exports: $131.6 million (f.o.b., 1990 est.); commodities--mostly petroleum products; partners--US 64%, EC

Imports: $496 million (f.o.b., 1990 est.); commodities--food, consumer goods, manufactures; partners--US 8%, EC

External debt: $81 million (1987)

Industrial production: growth rate NA

Electricity: 310,000 kW capacity; 945 million kWh produced, 15,000 kWh per capita (1990)

Industries: tourism, transshipment facilities, oil refining

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

Economic aid: Western (non-US) countries ODA and OOF bilateral commitments (1980-1988), $200 million

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 1991 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Aruba Economy 1991 information contained here. All suggestions for corrections of any errors about Aruba Economy 1991 should be addressed to the CIA.