Page last updated on February 08, 2019

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 2017, over 2 million tourists visited Aruba annually, with the large majority (80-85%) 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 hospitality 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):
$4.158 billion (2017 est.)
$4.107 billion (2016 est.)
$4.112 billion (2015 est.)
country comparison to the world: 180
[see also: GDP country ranks ]

GDP (official exchange rate):
$2.7 billion (2009 est.) (2017 est.)
[see also: GDP (official exchange rate) country ranks ]

GDP - real growth rate:
1.2% (2017 est.)
-0.1% (2016 est.)
-0.4% (2015 est.)
country comparison to the world: 180
[see also: GDP - real growth rate country ranks ]

GDP - per capita (PPP):
$37,500 (2017 est.)
$37,300 (2016 est.)
$37,700 (2015 est.)
country comparison to the world: 51
[see also: GDP - per capita country ranks ]

Gross national saving:
17% of GDP (2017 est.)
17.2% of GDP (2016 est.)
15.5% of GDP (2015 est.)
country comparison to the world: 120
[see also: Gross national saving country ranks ]

GDP - composition, by end use:
household consumption: 60.3% (2014 est.)
[see also: GDP - composition, by end use - household consumption country ranks ]
government consumption: 25.3% (2015 est.)
[see also: GDP - composition, by end use - government consumption country ranks ]
investment in fixed capital: 22.3% (2014 est.)
[see also: GDP - composition, by end use - investment in fixed capital country ranks ]
investment in inventories: 0% (2015 est.)
[see also: GDP - composition, by end use - investment in inventories country ranks ]
exports of goods and services: 70.5% (2015 est.)
[see also: GDP - composition, by end use - exports of goods and services country ranks ]
imports of goods and services: -76.6% (2015 est.)
[see also: GDP - composition, by end use - imports of goods and services country ranks ]

GDP - composition, by sector of origin:
agriculture: 0.4% (2002 est.)
[see also: GDP - composition, by sector of origin - agriculture country ranks ]
industry: 33.3% (2002 est.)
[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 (2007 est.)
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
country comparison to the world: 191
[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
note: most employment is in wholesale and retail trade, followed by hotels and restaurants

Unemployment rate:
7.7% (2016 est.)
country comparison to the world: 113
[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
[see also: Household income or consumption by percentage share - highest 10% country ranks ]

Budget:
revenues: 681.6 million (2017 est.)
[see also: Budget - revenues country ranks ]
expenditures: 755.5 million (2017 est.)
[see also: Budget - expenditures country ranks ]

Taxes and other revenues:
25.2% (of GDP) (2017 est.)
country comparison to the world: 118
[see also: Taxes and other revenues country ranks ]

Budget surplus (+) or deficit (-):
-2.7% (of GDP) (2017 est.)
country comparison to the world: 118
[see also: Budget surplus (+) or deficit (-) country ranks ]

Public debt:
86% of GDP (2017 est.)
84.7% of GDP (2016 est.)
country comparison to the world: 31
[see also: Public debt country ranks ]

Fiscal year:
calendar year

Inflation rate (consumer prices):
-0.5% (2017 est.)
-0.9% (2016 est.)
country comparison to the world: 6
[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: 132
[see also: Central bank discount rate country ranks ]

Commercial bank prime lending rate:
7% (31 December 2017 est.)
7.83% (31 December 2016 est.)
country comparison to the world: 118
[see also: Commercial bank prime lending rate country ranks ]

Stock of narrow money:
$0 (31 December 2017 est.)
$1.257 billion (31 December 2016 est.)
country comparison to the world: 194
[see also: Stock of narrow money country ranks ]

Stock of broad money:
$0 (31 December 2017 est.)
$1.257 billion (31 December 2016 est.)
country comparison to the world: 197
[see also: Stock of broad money country ranks ]

Stock of domestic credit:
$1.848 billion (31 December 2017 est.)
$1.848 billion (31 December 2016 est.)
country comparison to the world: 156
[see also: Stock of domestic credit country ranks ]

Current account balance:
$22 million (2017 est.)
$133 million (2016 est.)
country comparison to the world: 60
[see also: Current account balance country ranks ]

Exports:
$137.1 million (2017 est.)
$283.1 million (2016 est.)
country comparison to the world: 193
[see also: Exports country ranks ]

Exports - partners:
US 20.2%, Colombia 17.6%, Venezuela 13%, Netherlands 9.1%, Thailand 8.4%, Panama 4.8% (2017)

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

Imports:
$1.122 billion (2017 est.)
$1.142 billion (2016 est.)
country comparison to the world: 181
[see also: Imports country ranks ]

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

Imports - partners:
US 53.7%, Netherlands 13.1% (2017)

Reserves of foreign exchange and gold:
$921.8 million (31 December 2017 est.)
$828 million (31 December 2015 est.)
country comparison to the world: 134
[see also: Reserves of foreign exchange and gold country ranks ]

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.)