## Kingdom of the Netherlands—Aruba: Statistical Appendix (_cr0879)

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### Tourism activity (2002–06)
- Total revenue (Afl. million): 1480.1; 1522.6; 1882.5; 1951.8; 1912.2
  - Change in percent: 1.3; 2.9; 23.6; 3.7; -2.0
  - Change in percent, in real terms: -1.9; -0.8; 20.7; 0.3; -5.5
- Stay-over visitors (thousands): 642.6; 641.9; 728.2; 732.5; 694.4
  - Change in percent: -7.1; -0.1; 13.4; 0.6; -5.2
- Tourist nights (thousands): 4,863; 5,098; 5,640; 5,695; 5,471
  - Change in percent: -5.5; 4.8; 10.6; 1.0; -3.9
- Average stay (nights): 7.6; 7.9; 7.7; 7.8; 7.9
- Expenditure per tourist per day (in Aruban florins): 304.4; 298.7; 333.8; 342.8; 349.5
- Hotel occupancy rate (percent): 70.5; 74.3; 83.9; 83.9; 74.3
- Cruise tourists (thousands): 582.2; 542.3; 576.3; 552.8; 591.5
  - Change in percent: 19.5; -6.8; 6.3; -4.1; 7.0

### GDP and components at current prices (2002–06)
- Gross domestic product at market prices (Afl. million): 3,475; 3,618; 3,983; 4,159; 4,334
  - Change in percent: 1.1; 4.1; 10.1; 4.4; 4.2
- Final consumption expenditure at purchasers' prices (Afl. million): 2,695; 2,842; 2,965; 3,130; 3,310
  - Household final consumption expenditure: 1,820; 1,947; 2,041; 2,199; 2,322
  - Government final consumption expenditure: 874; 894; 925; 931; 988
- Gross capital formation (Afl. million): 935; 1,057; 1,129; 1,364; 1,495
  - Private gross capital formation: 912; 1,007; 1,069; 1,300; 1,430
  - Public gross fixed capital formation: 23; 50; 60; 64; 65
- Exports of goods and services 1/ (Afl. million): 2,256; 2,283; 2,574; 2,846; 2,824
  - Exports of goods: 277; 201; 210; 283; 298
  - Tourism exports of goods and services: 1,377; 1,387; 1,603; 1,678; 1,661
  - Regular exports of services: 602; 696; 761; 885; 865
- Imports of goods and services 1/ (Afl. million): 2,411; 2,564; 2,685; 3,181; 3,295
  - Imports of goods: 1,491; 1,508; 1,584; 1,908; 1,963
  - Imports of services: 920; 1,056; 1,102; 1,273; 1,331
- Note 1/: The activities of the oil refinery are registered on a net basis; a refining fee is computed and used as the oil sector's output and export. Other goods and/or services imported or exported by the oil sector are included in the trade figures. Refinery products delivered to Aruban users are registered as import.

### Components of GDP (percent of GDP, 2002–06)
- Gross domestic product: 100.0; 100.0; 100.0; 100.0; 100.0
- Private absorption: 78.7; 81.6; 78.1; 84.1; 86.6
  - Consumption: 52.4; 53.8; 51.2; 52.9; 53.6
  - Private investment 1/: 26.3; 27.8; 26.8; 31.3; 33.0
- Government absorption: 25.8; 26.1; 24.7; 23.9; 24.3
  - Consumption: 25.2; 24.7; 23.2; 22.4; 22.8
  - Investment 2/: 0.7; 1.4; 1.5; 1.5; 1.5
- Exports less imports 3/: -4.5; -7.7; -2.8; -8.1; -10.9
  - Goods: -34.9; -36.1; -34.5; -39.1; -38.4
  - Services: 30.5; 28.4; 31.7; 31.0; 27.6
- Notes: 1/ Private investment equals private gross fixed capital formation and private changes in inventories; oil sector included. 2/ Public investment equals public gross fixed capital formation and public changes in inventories. 3/ Exports less imports of goods and services; oil refinery activities registered on a net basis as described above.

### Real GDP and contributions to growth (1995 constant prices, 2002–06)
- Gross domestic product (Afl. million at constant 1995 prices): 2,793.0; 2,834.1; 3,045.5; 3,075.9; 3,092.9
  - Percent change: -2.5; 1.5; 7.5; 1.0; 0.6
- Real GDP growth contributions (percentage points):
  - Private absorption: 1.4; 7.6; 2.3; 6.9; 2.9
    - Consumption: 0.9; 2.0; 1.2; 2.2; 1.0
    - Private investment 1/: 0.5; 5.5; 1.0; 4.7; 1.9
  - Government absorption: 1.7; -0.4; 0.5; -0.5; 0.5
    - Consumption: 1.9; -1.2; 0.2; -0.6; 0.5
    - Investment 2/: -0.2; 0.8; 0.2; 0.1; 0.0
  - Exports less imports 3/: -5.6; -5.7; 4.7; -5.4; -2.8
    - Goods: -2.5; -9.8; -1.0; -5.0; 0.4
    - Services: -3.1; 4.1; 5.7; -0.4; -3.3
- Memorandum item: Nominal growth rate: 0.7; 4.1; 10.1; 4.4; 4.2

### Consumer prices and core inflation (annual percentage change, 2002–06)
- Total CPI change: 3.3; 3.7; 2.4; 3.4; 3.6
  - Food: 3.3; 3.1; 3.9; 3.8; 4.6
  - Beverage and tobacco: 2.4; 4.4; 0.6; 1.4; 3.1
  - Clothing and footwear: 6.8; 4.5; 3.8; 0.7; 1.4
  - Housing costs: 4.1; 5.7; 2.1; 6.8; 7.9
  - Housekeeping and furnishings: 4.0; 2.7; 1.9; 1.8; 1.4
  - Recreation and education: 2.7; 2.4; 2.5; 2.4; 2.5
  - Miscellaneous: 2.5; 2.6; 1.5; 2.1; 2.3
  - Medical care: 0.0; 0.0; 0.0; 0.0; 0.0
  - Transport and communications: 0.9; 2.8; 2.4; 2.8; 1.2
  - United States (index): 1.6; 2.3; 2.7; 3.4; 3.2
  - Netherlands Antilles (index): 0.4; 1.6; 1.4; 4.1; 3.1
- Core inflation: 3.0; 2.2; 2.0; 1.7; 1.9

### Legal minimum wages (Aruban florins per month, 2002–06)
- Construction and industry: 1,200.0; 1,200.0; 1,236.0; 1,236.0; 1,360.0
- Household personnel: 560.0; 560.0; 576.8; 576.8; 634.5

### Summary of trends in public finance (2002–06)
- Summary in levels (Afl. million):
  - Revenue: 754.7; 989.0; 836.1; 909.1; 985.2
    - Taxes: 609.6; 687.4; 707.1; 779.4; 850.2
    - Nontax revenue: 107.7; 271.2; 97.7; 101.0; 102.3
    - Grants: 37.4; 30.5; 31.2; 28.6; 32.7
  - Expenditure: 866.0; 919.7; 1,180.4; 1,034.0; 1,097.6
    - Current expenditure: 848.9; 876.7; 1,113.4; 969.6; 1,031.1
      - Wage costs: 431.3; 437.8; 566.3; 505.1; 542.1
        - Wages: 261.7; 265.6; 286.2; 304.7; 309.2
        - Employers contributions 1/: 66.0; 66.3; 157.4; 65.4; 92.4
        - Wage subsidies: 103.7; 105.9; 122.7; 135.1; 140.6
      - Goods and services 2/: 149.4; 153.5; 191.1; 152.9; 203.1
      - Interest: 49.6; 45.6; 85.9; 84.4; 97.4
      - Items not included elsewhere 3/: 218.7; 239.9; 270.1; 227.1; 188.5
    - Capital expenditure: 17.0; 43.0; 67.0; 64.4; 66.5
      - Investment: 13.3; 26.4; 34.2; 43.2; 32.0
      - Capital transfers: 3.7; 16.6; 32.7; 21.2; 34.5
  - Balance: -111.3; 69.3; -344.3; -124.9; -112.4
  - Statistical discrepancy: -7.5; -17.1; -171.4; -19.1; 44.8
  - Financing: 103.8; -86.4; 172.9; 105.8; 157.2
    - Nonmonetary sectors: 98.5; -191.7; 332.3; 102.8; 167.6
      - Net foreign capital: 96.0; -200.7; 95.6; 47.1; 58.2
      - Net domestic capital: 2.5; 9.0; 236.7; 55.7; 109.4
    - Monetary sectors: -36.2; -19.3; -21.3; -22.8; 48.1
    - Net lending: -38.4; -103.1; 9.3; 0.7; 7.1
    - Change in domestic payment obligations: 3.1; 21.5; -128.8; 26.5; -51.4
- Memorandum item:
  - Health care fund balance 4/: -46.0; -31.6; -28.8; -33.9; -3.8
- Summary in percent of GDP:
  - Revenue: 21.7; 27.3; 21.0; 21.9; 22.7
    - Taxes: 17.5; 19.0; 17.8; 18.7; 19.6
    - Nontax revenue: 3.1; 7.5; 2.5; 2.4; 2.4
    - Grants: 1.1; 0.8; 0.8; 0.7; 0.8
  - Expenditure: 24.9; 25.4; 29.6; 24.9; 25.3
    - Current expenditure: 24.4; 24.4; 22.8; 23.3; 23.8
      - Wage costs: 12.4; 12.1; 14.2; 12.1; 12.5
        - Wages: 7.5; 7.3; 7.2; 7.3; 7.1
        - Employers contributions 1/: 1.9; 1.8; 4.0; 1.6; 2.1
        - Wage subsidies: 3.0; 2.9; 3.1; 3.2; 3.2
      - Goods and services 2/: 4.3; 4.2; 4.8; 3.7; 4.7
      - Interest: 1.4; 1.3; 2.2; 2.0; 2.2
      - Items not included elsewhere 3/: 6.3; 6.6; 6.8; 5.5; 4.3
    - Capital expenditure: 0.5; 1.2; 1.7; 1.5; 1.5
      - Investment: 0.4; 0.7; 0.9; 1.0; 0.7
      - Capital transfers: 0.1; 0.5; 0.8; 0.5; 0.8
  - Balance: -3.2; 1.9; -8.6; -3.0; -2.6
  - Statistical discrepancy: -0.2; -0.5; -4.3; -0.5; 1.0
  - Financing: 3.0; -2.4; 4.3; 2.5; 3.6
    - Nonmonetary sectors: 2.8; -5.3; 8.3; 2.5; 3.9
      - Net foreign capital: 2.8; -5.5; 2.4; 1.1; 1.3
      - Net domestic capital: 0.1; 0.2; 5.9; 1.3; 2.5
    - Monetary sectors: -1.0; -0.5; -0.5; -0.5; 1.1
    - Net lending: -1.1; -2.8; 0.2; 0.0; 0.2
    - Change in domestic payment obligations: 0.1; 0.6; -3.2; 0.6; -1.2
  - Memorandum item:
    - Health care fund balance 4/: -1.3; -0.9; -0.7; -0.8; -0.1

### Tax revenue detail (2002–06)
- Tax revenue (Afl. million): 609.6; 687.4; 707.1; 779.4; 850.2
  - Direct taxes: 370.6; 424.3; 410.3; 463.2; 497.3
    - Wage taxes: 220.1; 234.9; 247.2; 266.2; 296.4
    - Income taxes: 3.0; -0.6; 0.3; 2.9; 10.7
    - Profit taxes: 78.3; 105.6; 74.4; 95.6; 90.1
    - Other direct taxes: 69.3; 84.4; 88.4; 98.5; 100.2
      - Land tax: 12.3; 27.5; 19.0; 24.9; 26.6
      - Hotel room taxes: 24.8; 25.1; 30.5; 33.9; 32.8
      - Gambling taxes: 17.1; 27.1; 23.7; 22.2; 23.2
      - Motor vehicle taxes: 15.2; 14.7; 15.1; 17.5; 17.7
  - Indirect taxes: 239.0; 263.0; 296.8; 316.3; 352.9
    - Excises: 109.0; 119.5; 122.9; 124.2; 113.7
      - Gasoline: 65.2; 68.7; 70.0; 68.9; 58.4
      - Tobacco: 10.4; 12.6; 12.0; 12.5; 13.9
      - Beer: 20.3; 24.3; 25.1; 25.3; 25.8
      - Liquor: 13.1; 13.9; 15.8; 17.5; 15.5
    - Import duties: 104.5; 114.9; 132.5; 140.7; 162.7
    - Foreign exchange tax: 14.4; 14.0; 26.2; 36.8; 62.0
    - Other taxes 2/: 11.1; 14.6; 15.3; 14.5; 14.5
- Tax revenue (percent of GDP): Taxes 17.5; 19.0; 17.8; 18.7; 19.6
  - Direct taxes: 10.7; 11.7; 10.3; 11.1; 11.5
    - Wage taxes: 6.3; 6.5; 6.2; 6.4; 6.8
    - Income taxes: 0.1; 0.0; 0.0; 0.1; 0.2
    - Profit taxes: 2.3; 2.9; 1.9; 2.3; 2.1
    - Other direct taxes: 2.0; 2.3; 2.2; 2.4; 2.3
  - Indirect taxes: 6.9; 7.3; 7.5; 7.6; 8.1
    - Excises: 3.1; 3.3; 3.1; 3.0; 2.6
      - Gasoline: 1.9; 1.9; 1.8; 1.7; 1.3
      - Tobacco: 0.3; 0.3; 0.3; 0.3; 0.3
      - Beer: 0.6; 0.7; 0.6; 0.6; 0.6
      - Liquor: 0.4; 0.4; 0.4; 0.4; 0.4
    - Import duties: 3.0; 3.2; 3.3; 3.4; 3.8
    - Foreign exchange tax: 0.4; 0.4; 0.7; 0.9; 1.4
    - Other taxes 2/: 0.3; 0.4; 0.4; 0.3; 0.3
- Notes: 1/ Cash basis. 2/ Includes property transfer tax, stamp duties, succession tax.

### Operational budget of the Social Insurance Bank (SVB), 2002–06
- Totals (Afl. million):
  - Total contributions: 180.7; 198.9; 196.3; 186.4; 194.8
  - Total benefits: 152.0; 157.2; 165.3; 193; 197.8
  - Administrative and interest costs: 11.5; 12.0; 15.1; 15.3; 14
    - Administrative costs: 9.3; 9.5; 11.5; 11.3; 10.7
    - Interest costs: 2.2; 2.5; 3.6; 4; 3.3
  - Overall balance: 17.3; 29.6; 15.9; -21.9; -17.0
- Old age and widowers and orphans insurance:
  - Contributions: 150.2; 158.9; 154.5; 139.8; 165.2
  - Benefits: 136.7; 138.4; 145.9; 169.5; 173.1
  - Administrative and interest costs: 1.6; 2.6; 4.2; 2.5; 1.7
  - Balance: 11.9; 17.9; 4.4; -32.2; -9.6
- Sickness and accident insurance:
  - Contributions: 29.9; 39.1; 39.7; 44.8; 28.0
  - Benefits: 14.7; 18.5; 18.9; 22.6; 24.2
  - Administrative and interest costs: 10.4; 9.9; 11.1; 13; 12.6
  - Balance: 4.8; 10.7; 9.7; 9.2; -8.8
- Severance insurance:
  - Contributions: 0.6; 0.9; 2.1; 1.8; 1.6
  - Interest revenues: 0.9; 0.9; 0.6; 0.6; 0.8
  - Benefits: 0.6; 0.3; 0.5; 0.9; 0.5
  - Administrative costs: 0.4; 0.4; 0.4; 0.4; 0.5
  - Balance: 0.6; 1.0; 1.8; 1.1; 1.4
- Overall balances in percent of GDP:
  - Total contributions: 5.2; 5.5; 4.9; 4.5; 4.5
  - Total benefits: 4.4; 4.3; 4.2; 4.6; 4.6
  - Administrative and interest costs: 0.3; 0.3; 0.4; 0.4; 0.3
  - Overall balance: 0.5; 0.8; 0.4; -0.5; -0.4
- Old age insurance balances in percent of GDP:
  - Contributions: 4.3; 4.4; 3.9; 3.4; 3.8
  - Benefits: 3.9; 3.8; 3.7; 4.1; 4.0
  - Balance: 0.3; 0.5; 0.1; -0.8; -0.2
- Table A12 source: SVB operational budgets (values presented as provided).

### SVB operational budget (concluded) and beneficiaries (Section 2)
- Sickness and accident insurance (Overall balances in percent of GDP): Contributions: 0.9; 1.1; 1.0; 1.1; 0.6; Benefits: 0.4; 0.5; 0.5; 0.5; 0.6; Administrative and interest costs: 0.3; 0.3; 0.3; 0.3; 0.3; Balance: 0.1; 0.3; 0.2; 0.2; -0.2
- Severance insurance (Overall balances in percent of GDP): Contributions: 0.02; 0.02; 0.05; 0.04; 0.04; Interest revenues: 0.03; 0.02; 0.02; 0.01; 0.02; Benefits: 0.02; 0.01; 0.01; 0.02; 0.01; Administrative costs: 0.01; 0.01; 0.01; 0.01; 0.01; Balance: 0.02; 0.03; 0.05; 0.03; 0.03
- Memorandum items (selected beneficiary/insured levels):
  - Number of beneficiaries (old age and widowers and orphans insurance): 11,465; 11,949; ...; 14,208; 15,193
    - Old age beneficiaries: 10,225; 10,640; ...; 13,159; 14,112
    - Widowers and orphans beneficiaries: 1,240; 1,309; ...; 1,049; 1,081
  - Number of insured (old age and widowers and orphans insurance): 145,032; 156,889; ......
    - Old age insured: 61,938; 73,475; .........
    - Widowers and orphans insured: 83,094; 83,414; .........
  - Number of insured (sickness and accident): 62,278; 63,733; .........
  - Number of insured (severance insurance 1/): 33,045; 34,423; .........
- Note: 1/ Concerns the same category of insured as those insured for accidents.

### Government Debt, 2002–06
- Total debt (In millions of Aruban florins): 1,614.5; 1,477.6; 1,716.5; 1,881.6; 1,994.7
- Domestic debt 1/ (In millions): 720.9; 753.5; 880.2; 1,024.7; 1,060.9
  - Tradable: 189.1; 218.5; 320.9; 377.1; 352.8
    - Short term: 48.0; 48.0; 48.0; 48.0; 48.0
    - Long term: 141.1; 170.5; 272.9; 329.1; 304.8
  - Nontradable: 531.8; 535.0; 559.3; 647.7; 708.1
    - Short term: 279.6; 304.7; 166.7; 193.2; 141.8
    - Long term: 252.2; 230.3; 392.6; 454.4; 566.3
- Foreign debt (In millions): 893.7; 724.2; 836.3; 856.9; 933.8
  - Netherlands: 199.6; 217.0; 213.1; 171.6; 169.7
  - European investment bank: 15.0; 13.6; 14.3; 12.0; 12.8
  - Other: 679.0; 493.6; 608.9; 673.4; 751.3
- Total debt (In percent of GDP): 46.5; 40.8; 43.1; 45.2; 46.0
  - Domestic debt 1/ (percent of GDP): 20.7; 20.8; 22.1; 24.6; 24.5
    - Tradable: 5.4; 6.0; 8.1; 9.1; 8.1
      - Short term: 1.4; 1.3; 1.2; 1.2; 1.1
      - Long term: 4.1; 4.7; 6.9; 7.9; 7.0
    - Nontradable: 15.3; 14.8; 14.0; 15.6; 16.3
      - Short term: 8.0; 8.4; 4.2; 4.6; 3.3
      - Long term: 7.3; 6.4; 9.9; 10.9; 13.1
  - Foreign debt (percent of GDP): 25.7; 20.0; 21.0; 20.6; 21.5
    - Netherlands: 5.7; 6.0; 5.3; 4.1; 3.9
    - European investment bank: 0.4; 0.4; 0.4; 0.3; 0.3
    - Other: 19.5; 13.6; 15.3; 16.2; 17.3
- Note: 1/ Includes debt of AZV from 2003 onward.

### Balance of Payments Summary (2002–06)
- Current Account (In millions of Aruban florins): -600.6; -282.5; 96.9; -373.8; -116.3
  - Merchandise trade balance: -959.1; -622.7; -422.1; -10.0; -308.3
    - Exports of goods: 2,663.2; 3,673.2; 4,875.1; 6,234.6; 6,566.5
    - Imports of goods: 3,622.3; 4,295.9; 5,297.2; 6,244.7; 6,874.8
  - Services: 706.0; 568.7; 820.1; 708.0; 597.0
    - Exports of services: 1,791.3; 1,871.1; 2,233.7; 2,334.2; 2,356.9
    - Imports of services: 1,085.3; 1,302.4; 1,413.6; 1,626.2; 1,759.9
      - Travel and tourism: 1,207.9; 1,199.0; 1,499.1; 1,567.9; 1,503.2
  - Income and current transfers: -347.5; -228.5; -301.1; -1,071.8; -405.0
    - Income: -224.0; -75.3; -116.2; -846.1; -188.3
    - Current transfers: -123.5; -153.2; -184.9; -225.7; -216.7
- Financial and capital account (In millions): 645.8; 172.2; -102.6; 321.3; 215.2
  - Financial account: 607.7; -7.3; -136.5; 288.1; 177.4
    - Direct investment: 602.3; 274.6; 272.7; 240.2; 1,097.7
    - Portfolio investment: 135.2; 74.8; 58.8; -14.1; -72.0
    - Loans to general government: -39.0; 82.0; -23.4; -5.7; -24.7
    - Banking sector (net increase in liabilities): 32.9; -3.8; -17.1; 20.1; 42.8
    - Other: -123.7; -434.9; -427.5; 47.6; -866.4
  - Capital account: 38.1; 179.5; 33.9; 33.2; 37.8
- Errors and omissions: 26.7; 45.3; 8.5; 12.8; -0.3
- Change in reserves (-=increase) 1/: -71.9; 65.0; -2.8; 39.7; -98.6
- Note: 1/ Including gold, excluding revaluation differences.

### Balance of Payments Summary (Percent of GDP)
- Current Account (percent of GDP): -17.3; -7.8; 2.4; -9.0; -2.7
  - Merchandise trade balance: -27.6; -17.2; -10.6; -0.2; -7.1
    - Exports of goods: 76.6; 101.5; 122.4; 149.9; 151.5
    - Imports of goods: 104.3; 118.7; 133.0; 150.2; 158.6
  - Services: 20.3; 15.7; 20.6; 17.0; 13.8
    - Exports of services: 34.8; 33.1; 37.6; 37.7; 34.7
    - Imports of services: 51.6; 51.7; 56.1; 56.1; 54.4
      - Travel and tourism: 31.2; 36.0; 35.5; 39.1; 40.6
  - Income and current transfers: -10.0; -6.3; -7.6; -25.8; -9.3
    - Income: -6.4; -2.1; -2.9; -20.3; -4.3
    - Current transfers: -3.6; -4.2; -4.6; -5.4; -5.0
- Financial and capital account (percent of GDP): 18.6; 4.8; -2.6; 7.7; 5.0
  - Financial account: 17.5; -0.2; -3.4; 6.9; 4.1
    - Direct investment: 17.3; 7.6; 6.8; 5.8; 25.3
    - Portfolio investment: 3.9; 2.1; 1.5; -0.3; -1.7
    - Loans to general government: -1.1; 2.3; -0.6; -0.1; -0.6
    - Banking sector (net increase in liabilities): 0.9; -0.1; -0.4; 0.5; 1.0
    - Other: -3.6; -12.0; -10.7; 1.1; -20.0
  - Capital account: 1.1; 5.0; 0.9; 0.8; 0.9
- Errors and omissions: 0.8; 1.3; 0.2; 0.3; 0.0
- Change in reserves (-=increase) 1/: -2.1; 1.8; -0.1; 1.0; -2.3

### Non Oil Balance of Payments Summary (selected items)
- Non Oil Current Account (In percent of GDP, Table A16): -323.5; -347.0; -243.8; -315.1; -566.5
  - Merchandise trade balance (In millions): -994.6; -1,105.3; -1,225.9; -1,318.4; -1,389.9
    - Exports of goods (percent of GDP, Table A17): 150.1; 114.2; 103.2; 110.4; 139.7
    - Imports of goods (percent of GDP): 1,144.7; 1,219.5; 1,329.1; 1,428.8; 1,529.6
  - Services (percent of GDP): 991.1; 952.0; 1,239.0; 1,297.7; 1,169.0
    - Exports of services: 1,783.9; 1,863.1; 2,223.9; 2,325.0; 2,352.5
    - Imports of services: 792.8; 911.1; 984.9; 1,027.3; 1,183.5
      - Travel and tourism: 1,207.9; 1,199.0; 1,499.1; 1,567.9; 1,503.2
  - Income and current transfers (percent of GDP): -320.0; -193.7; -256.9; -294.4; -345.6
    - Income: -224.0; -74.8; -116.2; -137.2; -188.4
    - Current transfers: -96.0; -118.9; -140.7; -157.2; -157.2
- Financial and capital account (percent of GDP): 368.7; 236.7; 238.1; 262.6; 265.4
  - Financial account: 330.6; 57.2; 204.2; 229.4; 227.6
    - Direct investment: 180.2; 224.8; 197.1; 247.8; 587.6
    - Portfolio investment: 136.1; 76.3; 59.4; -13.5; -70.7
    - Banking sector (net increase in liabilities): 84.7; 140.2; 52.2; 71.7; 160.7
    - Other: -31.4; -466.1; -81.1; -70.9; -25.3
  - Capital account: 38.1; 179.5; 33.9; 33.2; 37.8
- Change in reserves (-=increase) 1/: -71.9; 65.0; -2.8; 39.7; -98.6

### Monetary survey and developments (2002–06)
- Net foreign assets (end of period, In millions): 699; 638; 658; 598; 651
  - Central bank 1/: 611; 546; 549; 510; 608
  - Commercial banks: 89; 91; 109; 88; 43
- Net domestic assets (In millions): 1,335; 1,576; 1,628; 1,829; 1,841
- Domestic credit (In millions): 1,703; 1,922; 2,039; 2,256; 2,305
  - Public sector: -62; -43; -2; 11; -47
  - Private sector: 1,765; 1,964; 2,060; 2,255; 2,352
    - Enterprises: 836; 926; 952; 967; 1,026
    - Consumer credit: 409; 435; 479; 529; 534
    - Housing mortgages: 491; 550; 587; 710; 753
- Other items (net): -368; -345; -410.9; -427.1; -463.9
- Money supply (M2, end of period): 2,034; 2,214; 2,285; 2,427; 2,492
  - Money (M1): 845; 933; 961; 965; 1,055
  - Quasi-money: 1,189; 1,281; 1,325; 1,462; 1,437
- Monetary developments (percent change):
  - Net foreign assets (percent change): 24.4; 5.9; -8.8; 3.1; -9.1; 8.9 (2001–2006 series shown)
    - Central bank 1/: 37.8; 13.3; -10.6; 0.5; -7.2; 19.3
    - Commercial banks: -13.3; -27.3; 4.3; 18.7; -18.5; -51.1
  - Net domestic assets (percent change): -2.3; 13.1; 18.1; 3.2; 12.4; 0.7
  - Domestic credit (percent change): 2.1; 10.3; 12.8; 6.1; 10.7; 2.2
  - Money supply (M2, percent change): 5.9; 10.5; 8.9; 3.2; 6.2; 2.7
    - Money (M1): 17.6; 20.5; 10.5; 3.0; 0.4; 9.4
    - Quasi-money: -0.2; 4.3; 7.7; 3.4; 10.4; -1.7
- Notes:
  - 1/ Including gold, excluding revaluation differences.
  - 2/ Stock series is typically low and contains negative values; percent change calculations based on the convention that a less negative number or a change to a positive number constitute an increase in domestic credit to the public sector.

### Contributions to broad money growth (2002–06)
- Contributions to change in broad money (percent of broad money at the beginning of the period):
  - Net foreign assets: 2.1; -3.0; 0.9; -2.6; 2.2
    - Central bank 1/: 3.9; -3.2; 0.1; -1.7; 4.1
    - Commercial banks: -1.8; 0.2; 0.8; -0.9; -1.9
  - Net domestic assets: 8.4; 11.9; 2.3; 8.8; 0.5
  - Net domestic credit: 8.6; 10.7; 5.3; 9.5; 2.0
    - Public sector: -2.0; 1.0; 1.0; 1.0; -2.0
      - Central government: 0.2; 1.4; 1.9; 1.8; -1.2
      - Development aid: -2.2; -0.4; -1.0; -0.8; -0.7
    - Private sector: 10.6; 9.8; 4.3; 8.5; 4.0
      - Enterprises: 5.2; 4.4; 1.2; 0.6; 2.5
      - Consumer credit: 2.3; 1.2; 2.0; 2.2; 0.2
      - Housing mortgages: 2.5; 2.9; 1.7; 5.4; 1.8
      - Other: 0.5; 1.2; -0.5; 0.3; -0.5
  - Other items (net): -0.3; 1.1; -3.0; -0.7; -1.5
  - Broad money: 10.5; 8.9; 3.2; 6.2; 2.7
    - Money (M1): 7.8; 4.4; 1.2; 0.2; 3.7
    - Quasi-money: 2.7; 4.5; 2.0; 6.0; -1.0
- Note: 1/ Including gold, excluding revaluation differences.

*Prepared by a staff team of the International Monetary Fund; data as of January 24, 2008.*

### Section 1

### Kingdom of the Netherlands—Aruba: Statistical Appendix (Section 1)

### Tourism activity (2002–06)
- Total revenue (Afl. million): 1480.1, 1522.6, 1882.5, 1951.8, 1912.2
  - Change in percent: 1.3, 2.9, 23.6, 3.7, -2.0
  - Change in percent, in real terms: -1.9, -0.8, 20.7, 0.3, -5.5
- Stay-over visitors (thousands): 642.6, 641.9, 728.2, 732.5, 694.4
  - Change in percent: -7.1, -0.1, 13.4, 0.6, -5.2
- Tourist nights (thousands): 4,863, 5,098, 5,640, 5,695, 5,471
  - Change in percent: -5.5, 4.8, 10.6, 1.0, -3.9
- Average stay (nights): 7.6, 7.9, 7.7, 7.8, 7.9
- Expenditure per tourist per day (in Aruban florins): 304.4, 298.7, 333.8, 342.8, 349.5
- Hotel occupancy rate (percent): 70.5, 74.3, 83.9, 83.9, 74.3
- Cruise tourists (thousands): 582.2, 542.3, 576.3, 552.8, 591.5
  - Change in percent: 19.5, -6.8, 6.3, -4.1, 7.0

Sources noted: CBA Quarterly Bulletin; Aruba Tourism Authority; CBS; Aruba Hotel and Tourism Association; Cruise Tourism Authority.

### GDP and components at current prices (2002–06)
- Final consumption expenditure at purchasers' prices (Afl. million): 2,695; 2,842; 2,965; 3,130; 3,310
  - Household final consumption expenditure: 1,820; 1,947; 2,041; 2,199; 2,322
  - Government final consumption expenditure: 874; 894; 925; 931; 988
- Gross capital formation: 935; 1,057; 1,129; 1,364; 1,495
  - Private gross capital formation: 912; 1,007; 1,069; 1,300; 1,430
  - Public gross fixed capital formation: 23; 50; 60; 64; 65
- Exports of goods and services 1/: 2,256; 2,283; 2,574; 2,846; 2,824
  - Exports of goods: 277; 201; 210; 283; 298
  - Tourism exports of goods and services: 1,377; 1,387; 1,603; 1,678; 1,661
  - Regular exports of services: 602; 696; 761; 885; 865
- Imports of goods and services 1/: 2,411; 2,564; 2,685; 3,181; 3,295
  - Imports of goods: 1,491; 1,508; 1,584; 1,908; 1,963
  - Imports of services: 920; 1,056; 1,102; 1,273; 1,331
- Gross domestic product at market prices: 3,475; 3,618; 3,983; 4,159; 4,334
  - Change in percent: 1.1, 4.1, 10.1, 4.4, 4.2

Note 1/: The activities of the oil refinery are registered on a net basis; a refining fee is computed and used as the oil sector's output and export. Other goods and/or services imported or exported by the oil sector are included in the trade figures. Refinery products delivered to Aruban users are registered as import.

### Components of GDP (percent of GDP, 2002–06)
- Gross domestic product: 100.0 each year.
- Private absorption: 78.7, 81.6, 78.1, 84.1, 86.6
  - Consumption: 52.4, 53.8, 51.2, 52.9, 53.6
  - Private investment 1/: 26.3, 27.8, 26.8, 31.3, 33.0
- Government absorption: 25.8, 26.1, 24.7, 23.9, 24.3
  - Consumption: 25.2, 24.7, 23.2, 22.4, 22.8
  - Investment 2/: 0.7, 1.4, 1.5, 1.5, 1.5
- Exports less imports 3/: -4.5, -7.7, -2.8, -8.1, -10.9
  - Goods: -34.9, -36.1, -34.5, -39.1, -38.4
  - Services: 30.5, 28.4, 31.7, 31.0, 27.6

Notes: 1/ Private investment equals private gross fixed capital formation and private changes in inventories; oil sector included. 2/ Public investment equals public gross fixed capital formation and public changes in inventories. 3/ Exports less imports of goods and services; oil refinery activities registered on a net basis as described above.

### Real GDP and contributions to growth (1995 constant prices, 2002–06)
- Gross domestic product (Afl. million at constant 1995 prices): 2,793.0; 2,834.1; 3,045.5; 3,075.9; 3,092.9
  - Percent change: -2.5, 1.5, 7.5, 1.0, 0.6
- Real GDP growth contributions (percentage points):
  - Private absorption: 1.4, 7.6, 2.3, 6.9, 2.9
    - Consumption: 0.9, 2.0, 1.2, 2.2, 1.0
    - Private investment 1/: 0.5, 5.5, 1.0, 4.7, 1.9
  - Government absorption: 1.7, -0.4, 0.5, -0.5, 0.5
    - Consumption: 1.9, -1.2, 0.2, -0.6, 0.5
    - Investment 2/: -0.2, 0.8, 0.2, 0.1, 0.0
  - Exports less imports 3/: -5.6, -5.7, 4.7, -5.4, -2.8
    - Goods: -2.5, -9.8, -1.0, -5.0, 0.4
    - Services: -3.1, 4.1, 5.7, -0.4, -3.3
- Memorandum item: Nominal growth rate: 0.7, 4.1, 10.1, 4.4, 4.2

Sources: CBS.

### Consumer prices and core inflation (annual percentage change, 2002–06)
- Total CPI change: 3.3, 3.7, 2.4, 3.4, 3.6
  - Food: 3.3, 3.1, 3.9, 3.8, 4.6
  - Beverage and tobacco: 2.4, 4.4, 0.6, 1.4, 3.1
  - Clothing and footwear: 6.8, 4.5, 3.8, 0.7, 1.4
  - Housing costs: 4.1, 5.7, 2.1, 6.8, 7.9
  - Housekeeping and furnishings: 4.0, 2.7, 1.9, 1.8, 1.4
  - Recreation and education: 2.7, 2.4, 2.5, 2.4, 2.5
  - Miscellaneous: 2.5, 2.6, 1.5, 2.1, 2.3
  - Medical care: 0.0, 0.0, 0.0, 0.0, 0.0
  - Transport and communications: 0.9, 2.8, 2.4, 2.8, 1.2
  - United States (index): 1.6, 2.3, 2.7, 3.4, 3.2
  - Netherlands Antilles (index): 0.4, 1.6, 1.4, 4.1, 3.1
- Core inflation: 3.0, 2.2, 2.0, 1.7, 1.9

Sources: CBA Quarterly Bulletin; CBS.

### Legal minimum wages (Aruban florins per month, 2002–06)
- Construction and industry: 1,200.0; 1,200.0; 1,236.0; 1,236.0; 1,360.0
- Household personnel: 560.0; 560.0; 576.8; 576.8; 634.5

Source: Aruban Department of Labor.

### Summary of trends in public finance (2002–06, Afl. million and percent of GDP)
- Summary in levels (Afl. million):
  - Revenue: 754.7; 989.0; 836.1; 909.1; 985.2
    - Taxes: 609.6; 687.4; 707.1; 779.4; 850.2
    - Nontax revenue: 107.7; 271.2; 97.7; 101.0; 102.3
    - Grants: 37.4; 30.5; 31.2; 28.6; 32.7
  - Expenditure: 866.0; 919.7; 1,180.4; 1,034.0; 1,097.6
    - Current expenditure: 848.9; 876.7; 1,113.4; 969.6; 1,031.1
      - Wage costs: 431.3; 437.8; 566.3; 505.1; 542.1
        - Wages: 261.7; 265.6; 286.2; 304.7; 309.2
        - Employers contributions 1/: 66.0; 66.3; 157.4; 65.4; 92.4
        - Wage subsidies: 103.7; 105.9; 122.7; 135.1; 140.6
      - Goods and services 2/: 149.4; 153.5; 191.1; 152.9; 203.1
      - Interest: 49.6; 45.6; 85.9; 84.4; 97.4
      - Items not included elsewhere 3/: 218.7; 239.9; 270.1; 227.1; 188.5
    - Capital expenditure: 17.0; 43.0; 67.0; 64.4; 66.5
      - Investment: 13.3; 26.4; 34.2; 43.2; 32.0
      - Capital transfers: 3.7; 16.6; 32.7; 21.2; 34.5
  - Balance: -111.3; 69.3; -344.3; -124.9; -112.4
  - Statistical discrepancy: -7.5; -17.1; -171.4; -19.1; 44.8
  - Financing: 103.8; -86.4; 172.9; 105.8; 157.2
    - Nonmonetary sectors: 98.5; -191.7; 332.3; 102.8; 167.6
      - Net foreign capital: 96.0; -200.7; 95.6; 47.1; 58.2
      - Net domestic capital: 2.5; 9.0; 236.7; 55.7; 109.4
    - Monetary sectors: -36.2; -19.3; -21.3; -22.8; 48.1
    - Net lending: -38.4; -103.1; 9.3; 0.7; 7.1
    - Change in domestic payment obligations: 3.1; 21.5; -128.8; 26.5; -51.4
- Memorandum item:
  - Health care fund balance 4/: -46.0; -31.6; -28.8; -33.9; -3.8

Notes: 1/ Includes payments of arrears to APFA and AZV. 2/ Includes payments of arrears to suppliers. 3/ Includes the balance of the health care fund (AZV). 4/ AZV introduced in 2001. Source: Data provided by the Aruban authorities.

- Summary in percent of GDP:
  - Revenue: 21.7; 27.3; 21.0; 21.9; 22.7
    - Taxes: 17.5; 19.0; 17.8; 18.7; 19.6
    - Nontax revenue: 3.1; 7.5; 2.5; 2.4; 2.4
    - Grants: 1.1; 0.8; 0.8; 0.7; 0.8
  - Expenditure: 24.9; 25.4; 29.6; 24.9; 25.3
    - Current expenditure: 24.4; 24.4; 22.8; 23.3; 23.8
      - Wage costs: 12.4; 12.1; 14.2; 12.1; 12.5
        - Wages: 7.5; 7.3; 7.2; 7.3; 7.1
        - Employers contributions 1/: 1.9; 1.8; 4.0; 1.6; 2.1
        - Wage subsidies: 3.0; 2.9; 3.1; 3.2; 3.2
      - Goods and services 2/: 4.3; 4.2; 4.8; 3.7; 4.7
      - Interest: 1.4; 1.3; 2.2; 2.0; 2.2
      - Items not included elsewhere 3/: 6.3; 6.6; 6.8; 5.5; 4.3
    - Capital expenditure: 0.5; 1.2; 1.7; 1.5; 1.5
      - Investment: 0.4; 0.7; 0.9; 1.0; 0.7
      - Capital transfers: 0.1; 0.5; 0.8; 0.5; 0.8
  - Balance: -3.2; 1.9; -8.6; -3.0; -2.6
  - Statistical discrepancy: -0.2; -0.5; -4.3; -0.5; 1.0
  - Financing: 3.0; -2.4; 4.3; 2.5; 3.6
    - Nonmonetary sectors: 2.8; -5.3; 8.3; 2.5; 3.9
      - Net foreign capital: 2.8; -5.5; 2.4; 1.1; 1.3
      - Net domestic capital: 0.1; 0.2; 5.9; 1.3; 2.5
    - Monetary sectors: -1.0; -0.5; -0.5; -0.5; 1.1
    - Net lending: -1.1; -2.8; 0.2; 0.0; 0.2
    - Change in domestic payment obligations: 0.1; 0.6; -3.2; 0.6; -1.2
  - Memorandum item:
    - Health care fund balance 4/: -1.3; -0.9; -0.7; -0.8; -0.1

Source: Data provided by the Aruban authorities.

### Tax revenue detail (2002–06)
- Tax revenue (Afl. million): 609.6; 687.4; 707.1; 779.4; 850.2
  - Direct taxes: 370.6; 424.3; 410.3; 463.2; 497.3
    - Wage taxes: 220.1; 234.9; 247.2; 266.2; 296.4
    - Income taxes: 3.0; -0.6; 0.3; 2.9; 10.7
    - Profit taxes: 78.3; 105.6; 74.4; 95.6; 90.1
    - Other direct taxes: 69.3; 84.4; 88.4; 98.5; 100.2
      - Land tax: 12.3; 27.5; 19.0; 24.9; 26.6
      - Hotel room taxes: 24.8; 25.1; 30.5; 33.9; 32.8
      - Gambling taxes: 17.1; 27.1; 23.7; 22.2; 23.2
      - Motor vehicle taxes: 15.2; 14.7; 15.1; 17.5; 17.7
  - Indirect taxes: 239.0; 263.0; 296.8; 316.3; 352.9
    - Excises: 109.0; 119.5; 122.9; 124.2; 113.7
      - Gasoline: 65.2; 68.7; 70.0; 68.9; 58.4
      - Tobacco: 10.4; 12.6; 12.0; 12.5; 13.9
      - Beer: 20.3; 24.3; 25.1; 25.3; 25.8
      - Liquor: 13.1; 13.9; 15.8; 17.5; 15.5
    - Import duties: 104.5; 114.9; 132.5; 140.7; 162.7
    - Foreign exchange tax: 14.4; 14.0; 26.2; 36.8; 62.0
    - Other taxes 2/: 11.1; 14.6; 15.3; 14.5; 14.5

Source: Ministry of Finance, Tax Department. Note 1/: Cash basis. Note 2/: Includes property transfer tax, stamp duties, succession tax.

- Tax revenue (percent of GDP): Taxes 17.5; 19.0; 17.8; 18.7; 19.6
  - Direct taxes: 10.7; 11.7; 10.3; 11.1; 11.5
    - Wage taxes: 6.3; 6.5; 6.2; 6.4; 6.8
    - Income taxes: 0.1; 0.0; 0.0; 0.1; 0.2
    - Profit taxes: 2.3; 2.9; 1.9; 2.3; 2.1
    - Other direct taxes: 2.0; 2.3; 2.2; 2.4; 2.3
  - Indirect taxes: 6.9; 7.3; 7.5; 7.6; 8.1
    - Excises: 3.1; 3.3; 3.1; 3.0; 2.6
      - Gasoline: 1.9; 1.9; 1.8; 1.7; 1.3
      - Tobacco: 0.3; 0.3; 0.3; 0.3; 0.3
      - Beer: 0.6; 0.7; 0.6; 0.6; 0.6
      - Liquor: 0.4; 0.4; 0.4; 0.4; 0.4
    - Import duties: 3.0; 3.2; 3.3; 3.4; 3.8
    - Foreign exchange tax: 0.4; 0.4; 0.7; 0.9; 1.4
    - Other taxes 2/: 0.3; 0.4; 0.4; 0.3; 0.3

Source: Ministry of Finance, Tax Department. 1/ Cash basis. 2/ Includes property transfer tax and stamp duties.

### Operational budget of the Social Insurance Bank (SVB), 2002–06
- Totals (Afl. million):
  - Total contributions: 180.7; 198.9; 196.3; 186.4; 194.8
  - Total benefits: 152.0; 157.2; 165.3; 193; 197.8
  - Administrative and interest costs: 11.5; 12.0; 15.1; 15.3; 14
    - Administrative costs: 9.3; 9.5; 11.5; 11.3; 10.7
    - Interest costs: 2.2; 2.5; 3.6; 4; 3.3
  - Overall balance: 17.3; 29.6; 15.9; -21.9; -17.0
- Old age and widowers and orphans insurance:
  - Contributions: 150.2; 158.9; 154.5; 139.8; 165.2
  - Benefits: 136.7; 138.4; 145.9; 169.5; 173.1
  - Administrative and interest costs: 1.6; 2.6; 4.2; 2.5; 1.7
  - Balance: 11.9; 17.9; 4.4; -32.2; -9.6
- Sickness and accident insurance:
  - Contributions: 29.9; 39.1; 39.7; 44.8; 28.0
  - Benefits: 14.7; 18.5; 18.9; 22.6; 24.2
  - Administrative and interest costs: 10.4; 9.9; 11.1; 13; 12.6
  - Balance: 4.8; 10.7; 9.7; 9.2; -8.8
- Severance insurance:
  - Contributions: 0.6; 0.9; 2.1; 1.8; 1.6
  - Interest revenues: 0.9; 0.9; 0.6; 0.6; 0.8
  - Benefits: 0.6; 0.3; 0.5; 0.9; 0.5
  - Administrative costs: 0.4; 0.4; 0.4; 0.4; 0.5
  - Balance: 0.6; 1.0; 1.8; 1.1; 1.4
- Overall balances in percent of GDP:
  - Total contributions: 5.2; 5.5; 4.9; 4.5; 4.5
  - Total benefits: 4.4; 4.3; 4.2; 4.6; 4.6
  - Administrative and interest costs: 0.3; 0.3; 0.4; 0.4; 0.3
  - Overall balance: 0.5; 0.8; 0.4; -0.5; -0.4
- Old age insurance balances in percent of GDP:
  - Contributions: 4.3; 4.4; 3.9; 3.4; 3.8
  - Benefits: 3.9; 3.8; 3.7; 4.1; 4.0
  - Balance: 0.3; 0.5; 0.1; -0.8; -0.2

Table A12 source: SVB operational budgets (values presented as provided).

*Prepared by a staff team of the International Monetary Fund; data as of January 24, 2008.*

### Section 2

### _cr0879 - Section 2

### Operational Budget of the Social Insurance Bank (SVB), 2002-06 (concluded)
- Sickness and accident insurance (Overall balances in percent of GDP)
  - Contributions: 0.9, 1.1, 1.0, 1.1, 0.6 (2002,2003,2004,2005,2006)
  - Benefits: 0.4, 0.5, 0.5, 0.5, 0.6
  - Administrative and interest costs: 0.3, 0.3, 0.3, 0.3, 0.3
    - Administrative costs: 0.2, 0.2, 0.2, 0.2, 0.2
    - Interest costs: 0.1, 0.1, 0.1, 0.1, 0.1
  - Balance: 0.1, 0.3, 0.2, 0.2, -0.2
- Severance insurance (Overall balances in percent of GDP)
  - Contributions: 0.02, 0.02, 0.05, 0.04, 0.04
  - Interest revenues: 0.03, 0.02, 0.02, 0.01, 0.02
  - Benefits: 0.02, 0.01, 0.01, 0.02, 0.01
  - Administrative costs: 0.01, 0.01, 0.01, 0.01, 0.01
  - Balance: 0.02, 0.03, 0.05, 0.03, 0.03
- Memorandum items: Number of beneficiaries or insured (levels)
  - Number of beneficiaries per category (selected years shown)
    - Old age and widowers and orphans insurance: 11,465; 11,949; ...; 14,208; 15,193
      - Old age: 10,225; 10,640; ...; 13,159; 14,112
      - Widowers and orphans: 1,240; 1,309; ...; 1,049; 1,081
    - Sickness and accident insurance: 10,166; 11,383; .........
      - Sickness: 9,413; 10,797; .........
      - Accident: 753; 586; .........
    - Severance insurance: 174; 59; .........
  - Number of insured per category (selected years shown)
    - Old age and widowers and orphans insurance: 145,032; 156,889; .........
      - Old age: 61,938; 73,475; .........
      - Widowers and orphans: 83,094; 83,414; .........
    - Sickness and accident insurance: 62,278; 63,733; .........
      - Sickness: 29,233; 29,310; .........
      - Accident: 33,045; 34,423; .........
    - Severance insurance 1/: 33,045; 34,423; .........
- Source: SVB.
- Note: 1/ Concerns the same category of insured as those insured for accidents.

### Government Debt, 2002-06 (Table A13)
- Total debt (In millions of Aruban florins): 1,614.5; 1,477.6; 1,716.5; 1,881.6; 1,994.7 (2002–2006)
- Domestic debt 1/ (In millions): 720.9; 753.5; 880.2; 1,024.7; 1,060.9
  - Tradable: 189.1; 218.5; 320.9; 377.1; 352.8
    - Short term: 48.0; 48.0; 48.0; 48.0; 48.0
    - Long term: 141.1; 170.5; 272.9; 329.1; 304.8
  - Nontradable: 531.8; 535.0; 559.3; 647.7; 708.1
    - Short term: 279.6; 304.7; 166.7; 193.2; 141.8
    - Long term: 252.2; 230.3; 392.6; 454.4; 566.3
- Foreign debt (In millions): 893.7; 724.2; 836.3; 856.9; 933.8
  - Netherlands: 199.6; 217.0; 213.1; 171.6; 169.7
  - European investment bank: 15.0; 13.6; 14.3; 12.0; 12.8
  - Other: 679.0; 493.6; 608.9; 673.4; 751.3
- Total (In percent of GDP): 46.5; 40.8; 43.1; 45.2; 46.0
  - Domestic debt 1/ (percent of GDP): 20.7; 20.8; 22.1; 24.6; 24.5
    - Tradable: 5.4; 6.0; 8.1; 9.1; 8.1
      - Short term: 1.4; 1.3; 1.2; 1.2; 1.1
      - Long term: 4.1; 4.7; 6.9; 7.9; 7.0
    - Nontradable: 15.3; 14.8; 14.0; 15.6; 16.3
      - Short term: 8.0; 8.4; 4.2; 4.6; 3.3
      - Long term: 7.3; 6.4; 9.9; 10.9; 13.1
  - Foreign debt (percent of GDP): 25.7; 20.0; 21.0; 20.6; 21.5
    - Netherlands: 5.7; 6.0; 5.3; 4.1; 3.9
    - European investment bank: 0.4; 0.4; 0.4; 0.3; 0.3
    - Other: 19.5; 13.6; 15.3; 16.2; 17.3
- Sources: Data provided by the authorities, and IMF staff estimates.
- Note: 1/ Includes debt of AZV from 2003 onward.

### Balance of Payments Summary, 2002-06 (Table A14, monetary units)
- Current Account (In millions of Aruban florins): -600.6; -282.5; 96.9; -373.8; -116.3
  - Merchandise trade balance: -959.1; -622.7; -422.1; -10.0; -308.3
    - Exports of goods: 2,663.2; 3,673.2; 4,875.1; 6,234.6; 6,566.5
    - Imports of goods: 3,622.3; 4,295.9; 5,297.2; 6,244.7; 6,874.8
  - Services: 706.0; 568.7; 820.1; 708.0; 597.0
    - Exports of services: 1,791.3; 1,871.1; 2,233.7; 2,334.2; 2,356.9
    - Imports of services: 1,085.3; 1,302.4; 1,413.6; 1,626.2; 1,759.9
      - Travel and tourism: 1,207.9; 1,199.0; 1,499.1; 1,567.9; 1,503.2
  - Income and current transfers: -347.5; -228.5; -301.1; -1,071.8; -405.0
    - Income: -224.0; -75.3; -116.2; -846.1; -188.3
    - Current transfers: -123.5; -153.2; -184.9; -225.7; -216.7
- Financial and capital account: 645.8; 172.2; -102.6; 321.3; 215.2
  - Financial account: 607.7; -7.3; -136.5; 288.1; 177.4
    - Direct investment: 602.3; 274.6; 272.7; 240.2; 1,097.7
    - Portfolio investment: 135.2; 74.8; 58.8; -14.1; -72.0
    - Loans to general government: -39.0; 82.0; -23.4; -5.7; -24.7
    - Banking sector (net increase in liabilities): 32.9; -3.8; -17.1; 20.1; 42.8
    - Other: -123.7; -434.9; -427.5; 47.6; -866.4
  - Capital account: 38.1; 179.5; 33.9; 33.2; 37.8
- Errors and omissions: 26.7; 45.3; 8.5; 12.8; -0.3
- Change in reserves (-=increase) 1/: -71.9; 65.0; -2.8; 39.7; -98.6
- Sources: Central Bank of Aruba; and staff estimates.
- Note: 1/ Including gold, excluding revaluation differences.

### Balance of Payments Summary (Percent of GDP) (Table A15)
- Current Account (percent of GDP): -17.3; -7.8; 2.4; -9.0; -2.7
  - Merchandise trade balance: -27.6; -17.2; -10.6; -0.2; -7.1
    - Exports of goods: 76.6; 101.5; 122.4; 149.9; 151.5
    - Imports of goods: 104.3; 118.7; 133.0; 150.2; 158.6
  - Services: 20.3; 15.7; 20.6; 17.0; 13.8
    - Exports of services: 34.8; 33.1; 37.6; 37.7; 34.7
    - Imports of services: 51.6; 51.7; 56.1; 56.1; 54.4
      - Travel and tourism: 31.2; 36.0; 35.5; 39.1; 40.6
  - Income and current transfers: -10.0; -6.3; -7.6; -25.8; -9.3
    - Income: -6.4; -2.1; -2.9; -20.3; -4.3
    - Current transfers: -3.6; -4.2; -4.6; -5.4; -5.0
- Financial and capital account: 18.6; 4.8; -2.6; 7.7; 5.0
  - Financial account: 17.5; -0.2; -3.4; 6.9; 4.1
    - Direct investment: 17.3; 7.6; 6.8; 5.8; 25.3
    - Portfolio investment: 3.9; 2.1; 1.5; -0.3; -1.7
    - Loans to general government: -1.1; 2.3; -0.6; -0.1; -0.6
    - Banking sector (net increase in liabilities): 0.9; -0.1; -0.4; 0.5; 1.0
    - Other: -3.6; -12.0; -10.7; 1.1; -20.0
  - Capital account: 1.1; 5.0; 0.9; 0.8; 0.9
- Errors and omissions: 0.8; 1.3; 0.2; 0.3; 0.0
- Change in reserves (-=increase) 1/: -2.1; 1.8; -0.1; 1.0; -2.3
- Sources: Central Bank of Aruba; and staff estimates.
- Note: 1/ Including gold, excluding revaluation differences.

### Non Oil Balance of Payments Summary (Tables A16 and A17)
- Non Oil Current Account (In percent of GDP): -323.5; -347.0; -243.8; -315.1; -566.5 (Table A16, In millions)
  - Merchandise trade balance (In millions): -994.6; -1,105.3; -1,225.9; -1,318.4; -1,389.9
    - Exports of goods (percent of GDP): 150.1; 114.2; 103.2; 110.4; 139.7 (Table A17)
    - Imports of goods (percent of GDP): 1,144.7; 1,219.5; 1,329.1; 1,428.8; 1,529.6
  - Services (percent of GDP): 991.1; 952.0; 1,239.0; 1,297.7; 1,169.0
    - Exports of services: 1,783.9; 1,863.1; 2,223.9; 2,325.0; 2,352.5
    - Imports of services: 792.8; 911.1; 984.9; 1,027.3; 1,183.5
      - Travel and tourism: 1,207.9; 1,199.0; 1,499.1; 1,567.9; 1,503.2
  - Income and current transfers (percent of GDP): -320.0; -193.7; -256.9; -294.4; -345.6
    - Income: -224.0; -74.8; -116.2; -137.2; -188.4
    - Current transfers: -96.0; -118.9; -140.7; -157.2; -157.2
- Financial and capital account (percent of GDP): 368.7; 236.7; 238.1; 262.6; 265.4
  - Financial account: 330.6; 57.2; 204.2; 229.4; 227.6
    - Direct investment: 180.2; 224.8; 197.1; 247.8; 587.6
    - Portfolio investment: 136.1; 76.3; 59.4; -13.5; -70.7
    - Loans to general government: -39.0; 82.0; -23.4; -5.7; -24.7
    - Banking sector (net increase in liabilities): 84.7; 140.2; 52.2; 71.7; 160.7
    - Other: -31.4; -466.1; -81.1; -70.9; -25.3
  - Capital account: 38.1; 179.5; 33.9; 33.2; 37.8
- Errors and omissions: 26.7; 45.3; 8.5; 12.8; -0.3
- Change in reserves (-=increase) 1/: -71.9; 65.0; -2.8; 39.7; -98.6
- Sources: Central Bank of Aruba; and staff estimates.
- Note: 1/ Including gold, excluding revaluation differences.

### Monetary Survey, 2002-06 (Table A18)
- Net foreign assets (end of period, In millions of Aruban florins): 699; 638; 658; 598; 651
  - Central bank 1/: 611; 546; 549; 510; 608
  - Commercial banks: 89; 91; 109; 88; 43
- Net domestic assets (In millions): 1,335; 1,576; 1,628; 1,829; 1,841
- Domestic credit (In millions): 1,703; 1,922; 2,039; 2,256; 2,305
  - Public sector: -62; -43; -2; 11; -47
    - Central government: 937; 791; 209; 90
    - Development aid: -71.7; -79.0; -100.7; -118.1; -136.3
  - Private sector: 1,765; 1,964; 2,060; 2,255; 2,352
    - Enterprises: 836; 926; 952; 967; 1,026
    - Consumer credit: 409; 435; 479; 529; 534
    - Housing mortgages: 491; 550; 587; 710; 753
    - Other: 285; 442; 503; 8
- Other items (net): -368; -345; -410.9; -427.1; -463.9
- Money supply (M2, end of period): 2,034; 2,214; 2,285; 2,427; 2,492
  - Money (M1): 845; 933; 961; 965; 1,055
  - Quasi-money: 1,189; 1,281; 1,325; 1,462; 1,437
- Source: CBA, Quarterly and Monthly Bulletins.
- Note: 1/ Including gold, excluding revaluation differences.

### Monetary Developments, 2002-06 (Percent change, Table A19)
- Net foreign assets (percent change): 24.4; 5.9; -8.8; 3.1; -9.1; 8.9 (2001–2006 series shown)
  - Central bank 1/: 37.8; 13.3; -10.6; 0.5; -7.2; 19.3
  - Commercial banks: -13.3; -27.3; 4.3; 18.7; -18.5; -51.1
- Net domestic assets (percent change): -2.3; 13.1; 18.1; 3.2; 12.4; 0.7
- Domestic credit (percent change): 2.1; 10.3; 12.8; 6.1; 10.7; 2.2
  - Public sector: 2/ -2,236.4; -141.2; 31.3; 50.0; 106.6; -3,435.7 (note on stock series)
    - Central government 2/: -74.0; 60.7; 306.7; 116.9; 50.5; -25.0
    - Development aid 2/: -38.5; -126.8; -11.5; -27.1; -17.3; -15.4
  - Private sector: 3.7; 12.4; 11.3; 4.9; 9.5; 4.3
    - Enterprises: 1.4; 13.0; 10.8; 2.8; 1.5; 6.2
    - Consumer credit: 2.6; 11.6; 6.2; 10.2; 10.5; 1.0
    - Housing mortgages: 11.1; 10.4; 11.9; 6.7; 21.0; 6.1
    - Other: -28.3; 55.5; 89.8; -21.8; 17.9; -23.0
- Other items (net): 19.4; 1.3; -6.3; 19.1; 3.9; 8.6
- Money supply (M2, percent change): 5.9; 10.5; 8.9; 3.2; 6.2; 2.7
  - Money (M1): 17.6; 20.5; 10.5; 3.0; 0.4; 9.4
  - Quasi-money: -0.2; 4.3; 7.7; 3.4; 10.4; -1.7
- Source: CBA, Quarterly and Monthly Bulletins.
- Notes:
  - 1/ Including gold, excluding revaluation differences.
  - 2/ Stock series is typically low and contains negative values; percent change calculations based on the convention that a less negative number or a change to a positive number constitute an increase in domestic credit to the public sector.

### Contributions to Broad Money Growth, 2002-06 (Table A20)
- Contributions to change in broad money (percent of broad money at the beginning of the period)
  - Net foreign assets: 2.1; -3.0; 0.9; -2.6; 2.2 (2002–2006)
    - Central bank 1/: 3.9; -3.2; 0.1; -1.7; 4.1
    - Commercial banks: -1.8; 0.2; 0.8; -0.9; -1.9
  - Net domestic assets: 8.4; 11.9; 2.3; 8.8; 0.5
  - Net domestic credit: 8.6; 10.7; 5.3; 9.5; 2.0
    - Public sector: -2.0; 1.0; 1.0; 1.0; -2.0
      - Central government: 0.2; 1.4; 1.9; 1.8; -1.2
      - Development aid: -2.2; -0.4; -1.0; -0.8; -0.7
    - Private sector: 10.6; 9.8; 4.3; 8.5; 4.0
      - Enterprises: 5.2; 4.4; 1.2; 0.6; 2.5
      - Consumer credit: 2.3; 1.2; 2.0; 2.2; 0.2
      - Housing mortgages: 2.5; 2.9; 1.7; 5.4; 1.8
      - Other: 0.5; 1.2; -0.5; 0.3; -0.5
  - Other items (net): -0.3; 1.1; -3.0; -0.7; -1.5
  - Broad money: 10.5; 8.9; 3.2; 6.2; 2.7
    - Money (M1): 7.8; 4.4; 1.2; 0.2; 3.7
    - Quasi-money: 2.7; 4.5; 2.0; 6.0; -1.0
- Source: CBA, Quarterly and Monthly Bulletins.
- Note: 1/ Including gold, excluding revaluation differences.

*Source: _cr0879 - Section 2 (IMF staff tables and notes).*

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_Source: https://www.imf.org/-/media/websites/imf/imported-full-text-pdf/external/pubs/ft/scr/2008/_cr0879.pdf_