Aruba

Discovered and claimed for Spain in 1499, Aruba was acquired by the Dutch in 1636. The island's economy has been dominated by three main industries. A 19th century gold rush was followed by prosperity brought on by the opening in 1924 of an oil refinery. The last decades of the 20th century saw a boom in the tourism industry. Aruba seceded from the Netherlands Antilles in 1986 and became a separate, autonomous member of the Kingdom of the Netherlands. Movement toward full independence was halted at Aruba's request in 1990

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.

• GDP:  $2.258 billion (2005 est.)
• Per capita GDP:  $21,800 (2004 est.)
• GDP growth rate: 2.4% (2005 est.)
• Imports: $1.054 billion f.o.b. (2006)
• US. Share of Imports: 54%
• Major Imports: machinery, electrical equipment, crude oil for refining and reexport, chemicals and foodstuffs 

 "Your Connection to Aruba"  

Our Caribbean Regional Office in Santo Domingo assists U.S. companies with their business needs in Aruba by working with our contacts in-country.  

Please contact Mrs. Maria Elena Portorreal at maria.portorreal@N0SPAM.mail.doc.gov to learn how we can help your company enter or expand into this market.