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 2.0 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....
GDP | Reference | Last | Previous | Units | Frequency |
---|---|---|---|---|---|
Nominal Gross Domestic Product | 2022 | 6,345,047,818 | 5,554,717,818 | AWG | Annual |
Private Consumption | 2019 | 3,278,570,000 | 3,239,200,000 | AWG | Annual |
Nominal Fixed Investment (gross fixed capital formation) | 2019 | 1,674,900,000 | 1,870,000,000 | AWG | Annual |
Government Consumption | 2015 | 1,223 | 1,250 | Mil. AWG | Annual |
Investment | 2015 | 1,070 | 1,064 | Mil. AWG | Annual |
Real Gross Domestic Product | 2013 | 106.12 | 102.13 | Index 2005=100 | Annual |
Price | Reference | Last | Previous | Units | Frequency |
Consumer Price Index (CPI) | Feb 2020 | 112.23 | 112.04 | 2010=100, NSA | Monthly |
Labor | Reference | Last | Previous | Units | Frequency |
Wage & Salaries | 2023 Q3 | -2,499,019 | -2,296,306 | USD, NSA | Quarterly |
Trade | Reference | Last | Previous | Units | Frequency |
Exports of Goods | 2023 Q3 | 35,466,162 | 38,520,987 | USD, NSA | Quarterly |
Current Account Balance | 2023 Q3 | 369,710 | 37,014,616 | USD, NSA | Quarterly |
Balance of Goods | 2023 Q3 | -307,804,535 | -286,174,475 | USD, NSA | Quarterly |
Imports of Goods | 2023 Q3 | 343,270,697 | 324,695,463 | USD, NSA | Quarterly |
Net Exports | 2022 | 235,000,000 | 123,000,000 | USD | Annual |
Exports of Goods and Services | 2019 | 4,451,550,000 | 4,237,170,000 | AWG | Annual |
Imports of Goods and Services | 2019 | 4,383,130,000 | 4,278,690,000 | AWG | Annual |
Markets | Reference | Last | Previous | Units | Frequency |
Average Long-term Government Bond | Nov 2023 | 0 | 0 | AWG, NSA | Monthly |
Money Market Rate | Nov 2023 | 0.38 | 0.38 | % p.a., NSA | Monthly |
Lending Rate | Mar 2013 | 1 | 1 | % | Monthly |
Business | Reference | Last | Previous | Units | Frequency |
Change in Inventories | 2011 | 73,470,000 | 70,970,000 | AWG | Annual |
Demographics | Reference | Last | Previous | Units | Frequency |
Population | 2020 | 106,766 | 106,310 | # | Annual |
Net Migration | 2017 | 1,004 | # | Annual | |
Death Rate | 2016 | 8.76 | 8.62 | # per Ths. pop. | Annual |
Birth Rate | 2016 | 10.97 | 10.96 | # per Ths. pop. | Annual |