Aruba Economic Statistics and Indicators

07, Dec 2019, EST. Welcome to the Aruba economic statistics pages provided by the beta version of EconomyWatch.com's Econ Stats database.

Economic Indicators For: Aruba › Change country
National or Regional Currency: Aruban Guilder, AWG
Year of data: 2015 › Change year
Number of Indicators Listed:
Full Dataset: From Year 1980 to 2019
Date of Last Update: 17th March 2015
Population: 110,663 (July 2014 est.)
Area: total: 180 sq km ; land: 180 sq km ; water: 0 sq km
Natural Resources: NEGL; white sandy beaches
Capital: name: Oranjestad ; geographic coordinates: 12 31 N, 70 02 W ; time difference: UTC-4 (1 hour ahead of Washington, DC, during Standard Time)

Tourism and offshore banking are the mainstays of the small open Aruban economy. Tourist arrivals have rebounded strongly following a dip after the 11 September 2001 attacks. Tourism now accounts for over 80 % of economic activity. Over 1.5 million tourists per year visit Aruba, with 75% 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 with hotel capacity five times the 1985 level. Aruba is heavily dependent on imports and is making efforts to expand exports to achieve a more desirable trade balance. Aruba weathered two major shocks in recent years: fallout from the global financial crisis, which had its largest impact on tourism, and the closure of its oil refinery in 2009. Economic recovery is progressing gradually, but output is still 12% below its pre-crisis level. Aruba’s banking sector withstood the recession well, and unemployment has significantly decreased.

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