Economy Overview
Tourism is the mainstay of the small open Aruban economy, together with offshore banking. Oil refining and storage ended in 2009. The rapid growth of the tourism sector over the last decade has resulted in a substantial expansion of other activities. Over 1.5 million tourists per year visit Aruba with 75% of those from the US. Construction continues to boom with hotel capacity five times the 1985 level. Tourist arrivals rebounded strongly following a dip after the 11 September 2001 attacks. The government has made cutting the budget and trade deficits a high priority.
Agriculture Products
aloes; livestock; fish
Industries
tourism, transshipment facilities
Industrial Production Growth Rate
NA%
Labor Force
41,500 (2004 est.)country comparison to the world: 192
Electricity production
910 million kWh (2008 est.)country comparison to the world: 149
Electricity Consumption
846.3 million kWh (2008 est.)country comparison to the world: 151
Electricity Exports
0 kWh (2009 est.)
Electricity Imports
0 kWh (2009 est.)
Unemployment Rate
6.9% (2005 est.)country comparison to the world: 69
Population Below Poverty Line
NA%
Household Income or Consumption by Percentage Share
Lowest 10%: NA%
Highest 10%: NA%
Budget
Revenues: $650.4 million
Expenditures: $693.6 million (2010 est.)
Public Debt
46.3% of GDP (2005)country comparison to the world: 57
Central Bank Discount Rate
1% (31 December 2010 est.)country comparison to the world: 102 3% (31 December 2009 est.)
Commercial Bank Prime Lending Rate
Stock of Narrow Money
$762.8 million (31 December 2009)country comparison to the world: 152 $856.1 million (31 December 2008)
Stock of Broad Money
$1.753 billion (31 December 2009 est.)country comparison to the world: 148 $1.758 billion (31 December 2008 est.)
Stock of Domestic Credit
$1.412 billion (31 December 2009 est.)country comparison to the world: 142 $1.322 billion (31 December 2008)
Market Value of Publicly Traded Shares
Reserves of Foreign Exchange and Gold
$725.1 million (31 December 2010 est.)country comparison to the world: 143 $701.1 million (31 December 2009 est.)
Debt External
$478.6 million (2005 est.)country comparison to the world: 165
Stock of Direct Foreign Investment at Home
Stock of Direct Foreign Investment Abroad
Exchange Rates
Aruban guilders/florins (AWG) per US dollar -NA (2007)1.79 (2006)1.79 (2005)1.79 (2004)1.79 (2003)
