Central America and the Caribbean > Aruba > Economy

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Agriculture > products	aloes; livestock; fish
Big Mac Index	$2.77		[15th of 65]
Budget > Revenues	$507,900,000.00		[145th of 166]
Consumer price index	116.79 %		[88th of 165]
Debt > External	$478,600,000.00		[126th of 136]
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 country's oil refinery reopened in 1993, providing a major source of employment, foreign exchange earnings, and 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 government has made cutting the budget and trade deficits a high priority.
Exchange rates Aruban guilders/florins per US dollar - 1.79 (2004), 1.79 (2003), 1.79 (2002), 1.79 (2001), 1.79 (2000)
Exports	$124,000,000.00		[175th of 189]
Exports to US	$270,000,000.00		[67th of 224]
GDP	$1,911,173,000.00		[151st of 203]
GDP (purchasing power parity)	$2,258,000,000.00		[174th of 187]
GDP > Composition by sector > Industry	33.3%		[13th of 146]
GDP > Real growth rate	2.4%		[156th of 198]
GDP growth > annual %	1.57 annual %		[149th of 187]
Imports of goods, services and income > BoP, current US$	4,959,609,000 BoP $		[91st of 156]
Inflation rate (consumer prices)	3.4%		[104th of 192]
Public debt	46.3 % of GDP		[57th of 121]
Total reserves minus gold > current US$	273,513,400 $		[136th of 178]
Tourist arrivals by region of origin > Europe	63,181		[123rd of 195]
Trade balance with US	-$167,800,000.00		[177th of 224]

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