Economy Overview
Tourism and offshore banking are the mainstays of the small open Aruban economy. 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. Aruba is heavily dependent on imports and is making efforts to expand exports to achieve a more desirable trade balance. The government has also made cutting the budget and international development high priorities.
Agriculture Products
aloes, livestock; fish
Industries
tourism, transshipment facilities, banking
Industrial Production Growth Rate
NA%
Labor Force
51,610country comparison to the world: 190 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.)
Unemployment Rate
6.9% (2005 est.)country comparison to the world: 73
Population Below Poverty Line
NA%
Household Income or Consumption by Percentage Share
Lowest 10%: NA%
Highest 10%: NA%
Budget
Revenues: $568.3 million
Expenditures: $815.3 million (2012 est.)
Public Debt
46.3% of GDP (2005)country comparison to the world: 72
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
$1.022 billion (31 December 2012 est.)country comparison to the world: 149 $868.5 million (31 December 2011 est.)
Stock of Broad Money
$1.765 billion (31 December 2011 est.)country comparison to the world: 153 $1.762 billion (31 December 2010 est.)
Stock of Domestic Credit
$1.594 billion (31 December 2012 est.)country comparison to the world: 137 $1.448 billion (31 December 2011 est.)
Market Value of Publicly Traded Shares
Reserves of Foreign Exchange and Gold
Debt External
$533.4 million (2005 est.)country comparison to the world: 174
Stock of Direct Foreign Investment at Home
Stock of Direct Foreign Investment Abroad
Exchange Rates
Aruban guilders/florins per US dollar -1.79 (2012 est.) 1.79 (2011 est.)
