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EIU Aruba

Overview

Although the countries of the Caribbean Community (Caricom) will continue to enjoy broad political stability in the outlook period, there is a risk of increased volatility as most countries endure deep recessions and unemployment rises. As governments attempt to deal with severe fiscal constraints amid rising levels of public debt, inequality and poverty levels will rise, reversing much of the progress made in the past decade. However, the Economist Intelligence Unit does not expect rising discontent to threaten the region's long democratic tradition; most of the region's governments are expected to serve out their full parliamentary terms, with several others opting for early elections to consolidate their parliamentary positions. Earnings from the tourism sector, the region's main source of employment and foreign exchange, will fall dramatically in the outlook period as the US and UK suffer recessions in 2009; growth will be minimal in 2010. The public finances will come under increased pressure in the context of recessions in most countries in 2009, depressing revenue collection. Extremely high levels of public debt threaten fiscal stability in an economic environment characterised by extremely tight liquidity. Throughout the region, the illegal drugs trade will continue to represent a threat to security and stability.

Key Reports Available for Aruba
  • Country Report
  • Country Profile
  • Basic Data

    Land area
    193 sq km; Aruba lies 30 km to the north of Venezuela and 68 km west of Curacao, outside the hurricane belt; it is 31.5 km long and 10 km across at its widest point
    Population
    102,817 (2006 Central Bank estimate; population growth, 2.2% year on year)
    Main town
    Oranjestad, capital, population 29,000 (2003 estimate)
    Climate
    Subtropical
    Weather in Oranjestad
    Hottest month, September, 26-32°C; coldest months, January-March, 27°C (average daily minimum and maximum); driest month, June, 1 mm average rainfall; wettest months, July-August, 90-113 mm average rainfall
    Language
    Dutch and Papiamento; Spanish and English are also spoken
    Measures
    Metric system
    Currency
    The Aruban florin (Afl) is fixed at an exchange rate with the US dollar of Afl1.79:US$1; the US dollar is also in free circulation
    Time
    4 hours behind GMT
    Public holidays
    January 1st, Betico Croes's birthday (January 25th), Carnival Monday (mid- to late February), National Anthem and Flag Day (March 18th), Good Friday, Easter Monday, Queen's Day (April 30th), Labour Day (May 1st), Ascension Day (a Thursday, usually in May), December 25th-26th
    SOURCE: Country Profile


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