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Aruba Economy

Aruba's economy in numbers:

Nominal GDP of USD 3.1 billion in 2021.

GDP per capita of USD 28,575 compared to the global average of USD 10,589.

Average real GDP growth of 1.7% over the last decade.

Share of the region's population
Share of the region's GDP

GDP by economic sector
GDP by type of expenditure

Economic growth:

The economy recorded average annual growth of 1.7% in the decade to 2021. To read more about GDP growth in Aruba, go to our dedicated page.

Fiscal policy:

Aruba's fiscal deficit averaged 1.9% of GDP in the decade to 2021. Find out more on our dedicated page.

Inflation:

Inflation averaged -6.5% in the decade to 2019. Go to our Aruba inflation page for extra insight.

Monetary Policy:

Aruba's monetary policy rate ended 2022 at 6.10%, down from 8.40% a decade earlier. See our Aruba monetary policy page for additional details.

Exchange Rate:

From end-2012 to end-2022 the Aflorin stayed on the same level vs the U.S. dollar. For more info on the Aflorin, click here.
Projections out to 2033.

32 indicators covered including both annual and quarterly frequencies.

Consensus Forecasts based on a panel of 4 expert analysts.

Want to get insight on the economic outlook for Aruba in the coming years? FocusEconomics collects projections out to 2033 on 32 economic indicators for Aruba from a panel of 4 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts, and averaged to provide one Consensus Forecast you can rely on for each indicator. This means you avoid the risk of relying on out of date, biased or outlier forecasts. Our Consensus Forecasts can be visualized in whichever way best suits your needs, including via interactive online dashboards , direct data delivery and executive-style reports which combine analysts' projections with timely written analysis from our in-house team of economists on the latest developments in the Aruba economy. To download a sample report on the Aruba's economy, click here. To get in touch with our team for more information, fill in the form at the bottom of this page.

Aruba Economic Data

2019 2020 2021 2022 2023
Population (million) 0.1 0.1 0.1 0.1 0.1
GDP (USD bn) 3.4 2.5 3.1 3.5 -
GDP per Capita (USD) 30,979 23,344 28,575 32,944 -
GDP (LCU bn) 6.1 4.6 5.6 6.3 -
Economic Growth (Nominal GDP, ann. var. %) 3.6 -24.6 21.3 14.2 -
Economic Growth (GDP, ann. var. %) -2.3 -24.0 27.6 10.4 -
Fiscal Balance (% of GDP) 3.5 -11.1 -4.8 3.4 -
Public Debt (% of GDP) 71.1 112.3 101.8 90.1 79.8
Inflation (CPI, ann. var. %, eop) 1.7 - - - -
Inflation (CPI, ann. var. %, aop) -0.7 - - - -
Policy Rate (%, eop) 5.70 6.80 6.40 6.10 -
Exchange Rate (AWG per USD, eop) 1.80 1.80 1.80 1.80 1.80
Exchange Rate (LCU per USD, aop) 1.80 1.80 1.80 1.80 1.80
Current Account Balance (USD bn) 0.1 -0.3 0.1 - -
Current Account Balance (% of GDP) 2.5 -12.4 2.6 - -
Merchandise Trade Balance (USD bn) -1.1 -0.8 -0.9 -1.2 -
Merchandise Exports (USD bn) 0.1 0.1 0.1 0.2 -
Merchandise Imports (USD bn) 1.2 0.9 1.1 1.4 -
Merchandise Exports (ann. var. %) -29.3 -33.2 40.8 66.9 -
Merchandise Imports (ann. var. %) -1.6 -28.3 22.9 29.2 -
Foreign Direct Investment (USD bn) 0.1 -0.1 -0.1 -0.1 -
International Reserves (USD bn) 0.8 1.0 1.3 1.4 -
International Reserves (months of imports) 8.3 14.2 15.1 11.9 -

Free Sample Report

Interested in Aruba economic reports, analysis and data? FocusEconomics provides data, forecasts and analysis for hundreds of countries and commodities. Request your free sample report now.

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