Aruba - Economy
How is the economy of Aruba? Based on the information we have, Aruba has a small, tourism-dependent, territorial-island economy; very high public debt; COVID-19 crippled economic activity; partial recovery underway via tourism, benefitting from its high amount of timeshare residences; considering reopening oil refinery. Key agricultural products in this country include: aloes; livestock; fish.
More about the economy of Aruba
Labor force
Industrial production growth rate
Industries tourism, petroleum transshipment facilities, banking
Population below poverty line
Taxes and other revenues 25.2% (of GDP) (2017 est.)
Fiscal year
Exchange rates
Currency Aruban guilders/florins per US dollar -
Exchange rates 2023 1.79 (2023 est.)
Exchange rates 2022 1.79 (2022 est.)
Exchange rates 2021 1.79 (2021 est.)
Exchange rates 2020 1.79 (2020 est.)
Exchange rates 2019 1.79 (2019 est.)
Reserves of foreign exchange and gold
Reserves of foreign exchange and gold 2022 $1.544 billion (2022 est.)
Reserves of foreign exchange and gold 2021 $1.513 billion (2021 est.)
Reserves of foreign exchange and gold 2020 $1.213 billion (2020 est.)
Current account balance
Current account balance 2022 $230.556 million (2022 est.)
Current account balance 2021 $79.257 million (2021 est.)
Current account balance 2020 -$316.455 million (2020 est.)
Public debt
Public debt 2017 86% of GDP (2017 est.)
Budget
Revenues $793 million (2019 est.)
Expenditures $782 million (2019 est.)
Budget surplus (+) or deficit (-)
Remittances
Remittances 2022 1.08% of GDP (2022 est.)
Remittances 2021 1.16% of GDP (2021 est.)
Remittances 2020 1.37% of GDP (2020 est.)
Imports
Imports 2022 $2.429 billion (2022 est.)
Imports 2021 $1.947 billion (2021 est.)
Imports 2020 $1.644 billion (2020 est.)
Imports (partners) US 39%, Netherlands 11%, Guyana 9%, Colombia 8%, China 5% (2022)
Comodities Imports force refined petroleum, crude petroleum, tobacco, jewelry, other foods (2022)
Exports
Imports 2022 $2.429 billion (2022 est.)
Imports 2021 $1.947 billion (2021 est.)
Imports 2020 $1.644 billion (2020 est.)
Exports (partners) Colombia 40%, US 12%, Jordan 11%, Guyana 8%, Netherlands 6% (2022)
Comodities Exports force tobacco, liquor, refined petroleum, scrap iron, orthopedic appliances (2022)
Real GDP (purchasing power parity)
Real GDP (purchasing power parity) 2022 $4.498 billion (2022 est.)
Real GDP (purchasing power parity) 2021 $4.072 billion (2021 est.)
Real GDP (purchasing power parity) 2020 $3.191 billion (2020 est.)
GDP (official exchange rate) $3.545 billion (2022 est.)
Real GDP Per capita
Real GDP per capita 2022 $42,300 (2022 est.)
Real GDP per capita 2021 $38,200 (2021 est.)
Real GDP per capita 2020 $29,900 (2020 est.)
GDP - composition, by sector of origin
Agriculture 0% (2019 est.)
Industry 11.4% (2019 est.)
Services 78.3% (2019 est.)
GDP - composition, by end use
Household consumption 53.8% (2022 est.)
Government consumption 19.9% (2022 est.)
Investment in fixed capital 20.6% (2022 est.)
Exports of goods and services 83.1% (2022 est.)
Imports of goods and services -77.3% (2022 est.)
Unemployment rate
Unemployment rate 2016 7.7% (2016 est.)
All Important Facts about Aruba

Want to know more about Aruba? Check all different factbooks for Aruba below.

Aruba is found in Caribbean