Tourism is the mainstay of the small, open Aruban economy, with offshore banking and oil refining and storage also important. The rapid growth of the tourism sector over the last decade has resulted in a substantial expansion of other activities. Construction has boomed, with hotel capacity five times the 1985 level. In addition, the reopening of the country's oil refinery in 1993, a major source of employment and foreign exchange earnings, has further spurred growth. Aruba's small labor force and low unemployment rate have led to a large number of unfilled job vacancies, despite sharp rises in wage rates in recent years. The government's goal of balancing the budget within two years will hamper expenditures, as will the decline in stopover tourist arrivals following the 11 September terrorist attacks.
Agriculture Products
aloes; livestock; fish
Industries
tourism, transshipment facilities, oil refining
Industrial Production Growth Rate
NA%
Labor Force
41,501
Electricity production
450 million kWh (2000)
Electricity production by source
Fossil fuel: 100%
Hydro: 0%
Other: 0% (2000)
Nuclear: 0%
Electricity Consumption
418.5 million kWh (2000)
Electricity Exports
0 kWh (2000)
Electricity Imports
0 kWh (2000)
Currency
Aruban guilder/florin (AWG)
Unemployment Rate
0.6%
Population Below Poverty Line
NA%
Household Income or Consumption by Percentage Share
Lowest 10%: NA%
Highest 10%: NA%
Budget
Revenues: $135.81 million
Expenditures: $147 million, including capital expenditures of $NA (2000)
Commercial Bank Prime Lending Rate
Stock of Narrow Money
Stock of Broad Money
Stock of Domestic Credit
Market Value of Publicly Traded Shares
Reserves of Foreign Exchange and Gold
Debt External
$285 million (1996)
Stock of Direct Foreign Investment at Home
Stock of Direct Foreign Investment Abroad
Exchange Rates
Aruban guilders/florins per US dollar - 1.7900 (fixed rate since 1986)
