Aruba Business Resources

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. Construction has boomed, 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. Aruba's small labor force and exceptionally low unemployment rate have led to a large number of unfilled job vacancies, despite sharp rises in wage rates in recent years. Tourist arrivals have declined in the aftermath of the 11 September 2001 terrorist attacks on the US. The government now must deal with a budget deficit and a negative trade balance.

Airlines
Airlines in Europe
Airlines Worldwide

Airports
Airports in Europe
Airports Worldwide

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

Currency (code)
Aruban guilder/florin (AWG)

Currency Exchange Rate
Aruban guilders/florins per US dollar - 1.79 (2004), 1.79 (2003), 1.79 (2002), 1.79 (2001), 1.79 (2000)

Fiscal Year
calendar year

GDP (Gross Domestic Product)
GDP (purchasing power parity): $1.94 billion (2002 est.)
GDP - real growth rate: -1.5% (2002 est.)
GDP - per capita: purchasing power parity - $28,000 (2002 est.)

Imports / Exports
Exports: $128 million f.o.b. (including oil reexports) (2002 est.)
Exports - commodities: live animals and animal products, art and collectibles, machinery and electrical equipment, transport equipment
Exports - partners: Netherlands 28.5%, Panama 17.5%, Venezuela 14.7%, Netherlands Antilles 11.2%, Colombia 10.7%, US 10.4% (2004)

Imports: $841 million f.o.b. (2002 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)

Industries
tourism, transshipment facilities, oil refining

Investing
Forex, Foreign Exchange Market: Currency Trading

Labor Force & Unemployment Rate
Labor force: 41,500 (1997 est.)
Labor force - by occupation: most employment is in wholesale and retail trade and repair, followed by hotels and restaurants; oil refining
Unemployment rate: 0.6% (2003 est.)