View the information below regarding the economy of Aruba. The summary and statistics contains
gdp, industry, agriculture and more for Aruba. If you need other information please visit the
Aruba Country Page.
GDP: $1.724 billion.
Growth rate (2002): -0.7%.
Per capita GDP (2002): $19,232.
Natural resources: Beaches. Tourism/services, and oil refinery dominant factors in GDP.
Trade: Exports--$3.48 billion f.o.b. (including oil re-exports) (2002): oil products, live animals and animal products, art and collectibles, machinery and electrical equipment, transport equipment. Major markets--U.S. (40.4%), Venezuela (19.9%) Netherlands (10.2%) Netherlands Antilles (14.8%). Imports--$1.5 billion: crude petroleum, food, manufactures. Major suppliers--U.S. (60.4%), Netherlands (12.7%), Netherlands Antilles (3.3%).
Through the 1990s and into the 21st century Aruba posted growth rates around 5%. However, in 2001 a decrease in demand and the terrorist attack on the United States led to the first economic contraction in 15 years. Deficit spending has been a staple in Aruba's history and modestly high inflation has been present as well, although recent efforts at tightening monetary policy may correct this. Oil processing is the dominant industry in Aruba, despite the expansion of the tourism sector. The size of the agriculture and manufacturing industries remain minimal.