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.
Agriculture: NA
Industry: NA
Services: NA
2016: 7.7%
Lowest 10: NA
Highest 10: NA
Revenues: 681.6 million (2017 est.)
Expenditures: 755.5 million (2017 est.)
2017: 86% of GDP
2016: 84.7% of GDP
31 December 2010: 1%
31 December 2009: 3%
31 December 2017: 7%
31 December 2016: 7.83%
31 December 2017: $0
31 December 2016: $1.257 billion
31 December 2017: $0
31 December 2016: $1.257 billion
31 December 2017: $1.848 billion
31 December 2016: $1.848 billion
31 December 2017: $921.8 million
31 December 2015: $828 million
31 December 2014: $693.2 million
31 December 2013: $666.4 million
Currency: Aruban guilders/florins per US dollar -
Exchange rates:
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