4 GeoFroggy

ARUBA

Continent:

Geography

People &
Society

Government

Economy

Energy

Communications

Military &
Security

Transportation

Terrorism

Transnational Issues
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Economy Overview

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.

Agriculture Products

aloes; livestock; fish

Industries

tourism, petroleum transshipment facilities, banking

Industrial Production Growth Rate

NA%

Labor Force

51,610

Labor Force by Occupation

Agriculture: NA%

Industry: NA%

Services: NA%

Note: most employment is in wholesale and retail trade, followed by hotels and restaurants

Unemployment Rate

6.9% (2005 est.)

Population Below Poverty Line

NA%

Household Income or Consumption by Percentage Share

Lowest 10%: NA%

Highest 10%: NA%

Budget

Revenues: $681.8 million

Expenditures: $781.3 million (2016 est.)

Public Debt

55% of GDP (2012)

Central Bank Discount Rate

3% (31 December 2009)

Commercial Bank Prime Lending Rate

Stock of Narrow Money

$1.151 billion (31 December 2015 est.)

Stock of Broad Money

$2.126 billion (31 December 2015 est.)

Stock of Domestic Credit

$1.848 billion (31 December 2016 est.)

Market Value of Publicly Traded Shares

Reserves of Foreign Exchange and Gold

Debt External

$666.4 million (31 December 2013 est.)

Stock of Direct Foreign Investment at Home

Stock of Direct Foreign Investment Abroad

Exchange Rates

1.79 (2012 est.)
Year

GDP Official Exchange Rate

  • $2.516 billion 2009 est.

Taxes and Other Revenues

  • 27.1% of GDP (2016 est.)

Budget Surplus or Deficit

  • -4% of GDP (2016 est.)

Fiscal Year

  • calendar year

GDP Purchasing Power Parity

    $2.205 billion (2004 est.)

GDP Real Growth Rate

    2.4% (2005 est.)

GDP Per Capital

    $25,300 (2011 est.)

Gross National Saving

GDP Composition by end Use

  • Household consumption
    60.3%
  • Government consumption
    26.2%
  • Investment in fixed capital
    22.3%
  • Investment in inventories
    0%
  • Exports of goods and services
    70.2%
  • Imports of goods and services
    -79% (2015 est.)

GDP Composition by Sector of Origin

  • Agriculture
    0.4%
  • Industry
    33.3%
  • Services
    66.3% (2002 est.)

Inflation Rate Consumer Prices

    0.5% (2015 est.)

Current Account Balance

Exports

    $334.1 million (2015 est.)

Exports Partners

  • Colombia
    23.4%
  • US
    19.8%
  • Netherlands
    16.9%
  • Venezuela
    13.9%

Exports Commodities

    Live animals and animal products, art and collectibles, machinery and electrical equipment, transport equipment

Imports

    $1.254 billion (2015 est.)

Imports Partners

  • US
    55.4%
  • Netherlands
    12.6%

Imports Commodities

    Machinery and electrical equipment, refined oil for bunkering and reexport, chemicals; foodstuffs
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