st-side corner

Economy
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Economic overview: Tourism is the mainstay of the Aruban economy,
although offshore banking and oil refining and storage are also
important. The rapid growth of the tourism sector over the last
decade has resulted in a substantial expansion of other activities.
Construction has boomed, with hotel capacity five times the 1985
level. In addition, the reopening of the country's oil refinery in
1993, a major source of employment and foreign exchange earnings,
has further spurred growth. Aruba's small labor force and less than
1% unemployment rate have led to a large number of unfilled job
vacancies despite sharp rises in wage rates in recent years.

GDP: purchasing power parity - $1.2 billion (1994 est.)

GDP real growth rate: 6.1% (1994 est.)

GDP per capita: $18,000 (1994 est.)

GDP composition by sector:
agriculture: NA%
industry: NA%
services: NA%

Inflation rate (consumer prices): 6.1% (1994)

Labor force: NA
by occupation: most employment is in the tourist industry (1995)

Unemployment rate: 0.5% (1994)

Budget:
revenues: $145 million
expenditures: $185 million, including capital expenditures of $42
million (1988)

Industries: tourism, transshipment facilities, oil refining

Industrial production growth rate: NA%

Electricity:
capacity: 90,000 kW
production: 330 million kWh
consumption per capita: 4,761 kWh (1993)

Agriculture: aloes; livestock; fishing

Illicit drugs: major drug money laundering center and minor
transit point for narcotics bound for the US and Europe

Exports: $1.3 billion (including oil re-exports) (f.o.b., 1994)
commodities: mostly refined petroleum products
partners: US 64%, EU

Imports: $1.6 billion (f.o.b., 1994)
commodities: food, consumer goods, manufactures, petroleum products,
crude oil for refining and reexport
partners: US 8%, EU

External debt: $669 million (December 1995)

Economic aid: $NA

Currency: 1 Aruban florin (Af.) = 100 cents

Exchange rates: Aruban florins (Af.) per US$1 - 1.7900 (fixed rate
since 1986)

Fiscal year: calendar year

Transportation
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Railways: 0 km

Highways:
total: NA km
paved: NA km
unpaved: NA km

Ports: Barcadera, Oranjestad, Sint Nicolaas

Merchant marine: none

Airports:
total: 2
with paved runways 2 438 to 3 047 m: 1
with paved runways 914 to 1 523 m: 1
note: government-owned airp