Kingdom of the Netherlands: Aruba: 2013 Article IV Consultation: Staff Report, Informational Annex, Press Release
IMF Staff Country Reports, August 9, 2013
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- Kingdom of the Netherlands: Aruba: 2013 Article IV Consultation: Staff Report, Informational Annex, Press Release
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Bibliographic details
- Published: August 9, 2013
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781484307540.002
Economic output and recovery
- Economic output in Aruba remains 12 percent below its pre-crisis level.
- Recovery in Aruba has been slower than others in the Caribbean region.
- Robust tourism growth is an important contributor to the recovery.
External balances and sectoral developments
- The non-oil current account (CA) balance, which mostly reflects developments in the tourism sector, has improved since mid-2000, reaching a balanced position in 2012.
- The overall CA balance, after being in surplus for years, showed volatilities in recent years reflecting oil-sector developments.
- In 2012, the overall CA recorded a surplus of 5 percent of GDP.
Outlook and near-term projections
- In 2013, real output is projected to grow by 1ΒΌ percent.
- The subdued near-term recovery is expected to be supported by:
- Robust tourism growth.
- Some pickup in consumption from projected deflation.
Thematic coverage (as listed)
- Banking
- Economic sectors
- Expenditure
- External debt
- Public debt
- Revenue administration
- Tourism
IMF Staff Country Report: Kingdom of the Netherlands: Aruba: 2013 Article IV Consultation: Staff Report, Informational Annex, Press Release