Aruba Economy 2018, CIA World Factbook
| GEOGRAPHIC NAMES | GEOLOGY | USA STATS | CHINA STATS | COUNTRY CODES | AIRPORTS | RELIGION | JOBS |

Aruba Economy 2018

SOURCE: 2018 CIA WORLD FACTBOOK AND OTHER SOURCES











Aruba Economy 2018
SOURCE: 2018 CIA WORLD FACTBOOK AND OTHER SOURCES


Page last updated on February 28, 2018

Economy - overview:
Tourism, petroleum bunkering, hospitality, and financial and business services are the mainstays of the small open Aruban economy.Tourism accounts for a majority of economic activity; as of 2014, over 1.7 million tourists visited Aruba annually, with the large majority of those from the US. The rapid growth of the tourism sector has resulted in a substantial expansion of other activities. Construction continues to boom, especially in the hotel sector.Aruba is heavily dependent on imports and is making efforts to expand exports to improve its trade balance. Almost all consumer and capital goods are imported, with the US, the Netherlands, and Panama being the major suppliers.In 2016, Citgo Petroleum Corporation, an indirect wholly owned subsidiary of Petroleos de Venezuela SA, and the Government of Aruba signed an agreement to restart Valero Energy Corp.'s former 235,000-b/d refinery . Tourism and related industries have continued to grow, and the Aruban government is working to attract more diverse industries. Aruba's banking sector continues to be a strong sector; unemployment has significantly decreased.

GDP (purchasing power parity):
$2.516 billion (2009 est.) $2.258 billion (2005 est.) $2.205 billion (2004 est.)
country comparison to the world: 191

GDP (official exchange rate):
$2.516 billion (2009 est.)
[see also: GDP (official exchange rate) country ranks ]

GDP - real growth rate:
2.4% (2005 est.)
country comparison to the world: 139
[see also: GDP - real growth rate country ranks ]

GDP - per capita:
$25,300 (2011 est.)
country comparison to the world: 78

GDP - composition, by end use:
household consumption: 60.3%
[see also: GDP - composition, by end use - household consumption country ranks ]
government consumption: 26.2%
[see also: GDP - composition, by end use - government consumption country ranks ]
investment in fixed capital: 22.3%
[see also: GDP - composition, by end use - investment in fixed capital country ranks ]
investment in inventories: 0%
[see also: GDP - composition, by end use - investment in inventories country ranks ]
exports of goods and services: 70.2%
[see also: GDP - composition, by end use - exports of goods and services country ranks ]
imports of goods and services: -79% (2014 est.)
[see also: GDP - composition, by end use - imports of goods and services country ranks ]

GDP - composition, by sector of origin:
agriculture: 0.4%
[see also: GDP - composition, by sector of origin - agriculture country ranks ]
industry: 33.3%
[see also: GDP - composition, by sector of origin - industry country ranks ]
services: 66.3% (2002 est.)
[see also: GDP - composition, by sector of origin - services country ranks ]

Agriculture - products:
aloes; livestock; fish

Industries:
tourism, petroleum transshipment facilities, banking

Industrial production growth rate:
NA%
[see also: Industrial production growth rate country ranks ]

Labor force:
51,610
note: of the 51,610 workers aged 15 and over in the labor force, 32,252 were born in Aruba and 19,353 came from abroad; foreign workers are 38% of the employed population (2007 est.)
country comparison to the world: 192
[see also: Labor force country ranks ]

Labor force - by occupation:
agriculture: NA%
[see also: Labor force - by occupation - agriculture country ranks ]
industry: NA%
[see also: Labor force - by occupation - industry country ranks ]
services: NA%
[see also: Labor force - by occupation - services country ranks ]
note: most employment is in wholesale and retail trade, followed by hotels and restaurants

Unemployment rate:
6.9% (2005 est.)
country comparison to the world: 98
[see also: Unemployment rate country ranks ]

Population below poverty line:
NA%
[see also: Population below poverty line country ranks ]

Household income or consumption by percentage share:
lowest 10%: NA%
[see also: Household income or consumption by percentage share - lowest 10% country ranks ]
highest 10%: NA%

Budget:
revenues: $695.4 million
[see also: Budget - revenues country ranks ]
expenditures: $794 million (2017 est.)
[see also: Budget - expenditures country ranks ]

Taxes and other revenues:
27.6% of GDP (2017 est.)
country comparison to the world: 101
[see also: Taxes and other revenues country ranks ]

Budget surplus (+) or deficit (-):
-3.9% of GDP (2017 est.)
country comparison to the world: 141
[see also: Budget surplus (+) or deficit (-) country ranks ]

Public debt:
67% of GDP (2013) 55% of GDP (2012)
country comparison to the world: 55
[see also: Public debt country ranks ]

Fiscal year:
calendar year

Inflation rate (consumer prices):
-0.1% (2017 est.) -0.9% (2016 est.)
country comparison to the world: 9
[see also: Inflation rate (consumer prices) country ranks ]

Central bank discount rate:
1% (31 December 2010) 3% (31 December 2009)
country comparison to the world: 127
[see also: Central bank discount rate country ranks ]

Commercial bank prime lending rate:
8.5% (31 December 2017 est.) 7.83% (31 December 2016 est.)
country comparison to the world: 98
[see also: Commercial bank prime lending rate country ranks ]

Stock of narrow money:
$1.257 billion (31 December 2016 est.) $1.257 billion (31 December 2016 est.)
country comparison to the world: 151
[see also: Stock of narrow money country ranks ]

Stock of broad money:
$2.328 billion (31 December 2016 est.) $2.126 billion (31 December 2015 est.)
country comparison to the world: 150
[see also: Stock of broad money country ranks ]

Stock of domestic credit:
$1.848 billion (31 December 2016 est.)
country comparison to the world: 153
[see also: Stock of domestic credit country ranks ]

Exports:
$246.3 million (2017 est.) $283.1 million (2016 est.)
country comparison to the world: 185
[see also: Exports country ranks ]

Exports - commodities:
live animals and animal products, art and collectibles, machinery and electrical equipment, transport equipment

Exports - partners:
Colombia 23.4%, US 19.8%, Netherlands 16.9%, Venezuela 13.9% (2016)

Imports:
$1.165 billion (2017 est.) $1.142 billion (2016 est.)
country comparison to the world: 175
[see also: Imports country ranks ]

Imports - commodities:
machinery and electrical equipment, refined oil for bunkering and reexport, chemicals; foodstuffs

Imports - partners:
US 55.4%, Netherlands 12.6% (2016)

Debt - external:
$693.2 million (31 December 2014 est.) $666.4 million (31 December 2013 est.)
country comparison to the world: 173
[see also: Debt - external country ranks ]

Exchange rates:
Aruban guilders/florins per US dollar - 1.79 (2017 est.) 1.79 (2016 est.) 1.79 (2015 est.) 1.79 (2014 est.) 1.79 (2013 est.)


NOTE: 1) The information regarding Aruba on this page is re-published from the 2018 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Aruba Economy 2018 information contained here. All suggestions for corrections of any errors about Aruba Economy 2018 should be addressed to the CIA.
2) The rank that you see is the CIA reported rank, which may habe the following issues:
  a) The assign increasing rank number, alphabetically for countries with the same value of the ranked item, whereas we assign them the same rank.
  b) The CIA sometimes assignes counterintuitive ranks. For example, it assigns unemployment rates in increasing order, whereas we rank them in decreasing order






This page was last modified 28-Feb-18
Copyright © 1995- , ITA all rights reserved.

    . Feedback