Aruba
2020 Product Exports | Imports: $117M | $783M, 188 of 226 | 181 of 226
2020 Per Capita Product Exports | Imports: $1.1k | $7.34k, 109 of 219 | 29 of 219
2020 Service Exports | Imports : $1.36B | $803M, 53 of 65 | 59 of 65
Overview In 2020 Aruba was the number 188 economy in the world in terms of total exports and the number 181 in total imports.
Exports The top exports of Aruba are Crude Petroleum ($72.8M), Rolled Tobacco ($14.5M), Scrap Iron ($3.18M), Refined Petroleum ($2.74M), and Soap ($1.85M), exporting mostly to South Korea ($72.8M), Colombia ($9.24M), Jordan ($7.09M), Venezuela ($7.04M), and United States ($6.28M).
Imports The top imports of Aruba are Refined Petroleum ($61.1M), Rolled Tobacco ($28.4M), Packaged Medicaments ($28.2M), Cars ($21.9M), and Other Edible Preparations ($18.1M), importing mostly from United States ($342M), Netherlands ($132M), Colombia ($43.5M), China ($37.3M), and Brazil ($28.9M).
Location Aruba borders Dominican Republic and Venezuela by sea.
Latest Trends
#permalink to sectionLatest Trade
#permalink to sectionThe following section uses the most recent trade data from partners of Aruba.
Disclaimer: data is presented based on availability and only countries that use the harmonized system are being shown.
*All data is converted to USD using January 2020 exchange rates when data is reported in local currency.
Latest Data
#permalink to sectionThe data obtained is mirror data. The trade of countries that do not report current data can be reconstructed based on data reported by partner countries with current data available.
*All data is converted to USD using January 2020 exchange rates when data is reported in local currency.
Historical Data
#permalink to sectionYearly Trade
#permalink to sectionTop Export (2020): Crude Petroleum, $72.8M
Top Destination (2020): South Korea, $342M
In 2020, Aruba exported a total of $117M, making it the number 188 exporter in the world. During the last five reported years the exports of Aruba have changed by -$329M from $447M in 2015 to $117M in 2020.
The most recent exports are led by Crude Petroleum ($72.8M), Rolled Tobacco ($14.5M), Scrap Iron ($3.18M), Refined Petroleum ($2.74M), and Soap ($1.85M). The most common destination for the exports of Aruba are South Korea ($72.8M), Colombia ($9.24M), Jordan ($7.09M), Venezuela ($7.04M), and United States ($6.28M).
Market Growth
#permalink to sectionService Trade
#permalink to sectionService Trade
#permalink to sectionAruba Exports Services (2020): $1.36B
Aruba Imports Services (2020): $803M
In 2020, Aruba exported $1.36B worth of services. The top services exported by Aruba in 2020 were Travel ($1.08B), Other business services ($113M), Transportation ($51.8M), Financial services ($46.3M), and Government services, n.i.e. ($28.8M).
The top services imported by Aruba in 2020 were Travel ($303M), Other business services ($241M), Transportation ($96M), Computer and information services ($57.6M), and Financial services ($35.2M).
Economic Complexity
#permalink to sectionMost Specialized Products by RCA Index
#permalink to sectionAruba has a high level of specialization in Scrap Nickel (92.8), Rolled Tobacco (87.4), Soap (31.1), Used Clothing (18.6), and Crude Petroleum (16.2). Specialization is measured using RCA, an index that takes the ratio between Aruba observed and expected exports in each product.
Most Complex Products by PCI
#permalink to sectionThe highest complexity exports of Aruba according to the product complexity index (PCI) are X-Ray Equipment (1.61), Eyewear (1.41), Copper Pipe Fittings (1.17), Orthopedic Appliances (1.09), and Lifting Machinery (1.07). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.
Export Opportunities by Relatedness
#permalink to sectionThe top export opportunities for Aruba according to the relatedness index, are Collector's Items (0.061), Scrap Plastic (0.056), Refined Petroleum (0.055), Recreational Boats (0.054), and Perfumes (0.054). Relatedness measures the distance between a country's current exports and each product. The barchart show only products that Aruba is not specialized in.
Product Space
#permalink to sectionThe product space is a network connecting products that are likely to be co-exported. The product space can be used to predict future exports, since countries are more likely to start exporting products that are related to current exports. Relatedness measures the distance between a product, and all of the products a country currently specializes in.
Diversification Frontier
#permalink to sectionThe Complexity-Relatedness diagram compares the risk vs strategic value of a country's potential export oppotunities. Relatedness is predictive of the probability that a country increases its exports in a product. Complexity, is associated with higher levels of income, economic growth, less income inequality, and lower greenhouse emissions.
