Economy - overview:
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. 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. 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. Tourist arrivals have rebounded strongly following a dip after the 11 September 2001 attacks. The island experiences only a brief low season, and hotel occupancy in 2004 averaged 80%, compared to 68% throughout the rest of the Caribbean. The newly re-elected government has made cutting the budget and trade deficits a high priority.

GDP (purchasing power parity):
$2.13 billion (2004 est.)

GDP (official exchange rate):
NA

GDP - real growth rate:
3.5% (2004 est.)

GDP - per capita (PPP):
$21,800 (2004 est.)

GDP - composition by sector:
agriculture: NA%
industry: NA%
services: NA%

Labor force:
41,500 (2004 est.)

Labor force - by occupation:
agriculture: NA%
industry: NA%
services: NA%
note: most employment is in wholesale and retail trade and repair, followed by hotels and restaurants; oil refining

Unemployment rate:
7.3% (2004 est.)

Population below poverty line:
NA%

Household income or consumption by percentage share:
lowest 10%: NA%
highest 10%: NA%

Inflation rate (consumer prices):
3.8% (2005 est.)

Budget:
revenues: $135.8 million
expenditures: $147 million; including capital expenditures of $NA (2000)

Agriculture - products:
aloes; livestock; fish

Industries:
tourism, transshipment facilities, oil refining

Industrial production growth rate:
NA%

Electricity - production:
770 million kWh (2003)

Electricity - consumption:
716.1 million kWh (2003)

Electricity - exports:
0 kWh (2003)

Electricity - imports:
0 kWh (2003)

Oil - production:
2,363 bbl/day (2003)

Oil - consumption:
6,500 bbl/day (2003 est.)

Oil - exports:
NA bbl/day

Oil - imports:
NA bbl/day

Natural gas - production:
0 cu m (2003 est.)

Natural gas - consumption:
0 cu m (2003 est.)

Exports:
$80 million f.o.b.; note - includes oil reexports (2004 est.)

Exports - commodities:
live animals and animal products, art and collectibles, machinery and electrical equipment, transport equipment

Exports - partners:
Netherlands 28.5%, Panama 17.4%, Venezuela 14.7%, Netherlands Antilles 11.2%, Colombia 10.7%, US 10.4% (2004)

Imports:
$875 million f.o.b. (2004 est.)

Imports - commodities:
machinery and electrical equipment, crude oil for refining and reexport, chemicals; foodstuffs

Imports - partners:
US 55.5%, Netherlands 14.1%, Venezuela 3.3% (2004)

Debt - external:
$453 million (2005 est.)

Economic aid - recipient:
$17.4 million (2004)

Currency (code):
Aruban guilder/florin (AWG)

Exchange rates:
Aruban guilders/florins per US dollar - 1.79 (2005), 1.79 (2004), 1.79 (2003), 1.79 (2002), 1.79 (2001)