Flag Aruba

Product Exports (2018): $199M, Rank 173 of 222

Exports Per Capita (2018): $1.88k, Rank 171 of 219

Product Imports (2018): $1.3B, Rank 166 of 221

Imports Per Capita (2018): $12.2k, Rank 128 of 219

Service Exports (2016): $2.06B, Rank 91 of 152

Service Imports (2016): $867M, Rank 118 of 152

Overview: In 2018 Aruba was the number 173 in total exports and the number 166 in total imports. In 2018, Aruba exported $199M and imported $1.3B, resulting in a negative trade balance of -$1.1B. In 2018, Aruba's exports per capita were $1.88k and its imports per capita were $12.2k.

Trade: The top exports of Aruba are Planes, Helicopters, and/or Spacecraft ($90M), Crude Petroleum ($29M), Petroleum Gas ($15.3M), Gas Turbines ($14.4M), and Hard Liquor ($10.6M). The top imports of Aruba are Refined Petroleum ($155M), Crude Petroleum ($155M), Cars ($53M), Planes, Helicopters, and/or Spacecraft ($45.6M), and Jewellery ($38.9M).

Destinations: Aruba exports mostly to Netherlands ($110M), Nicaragua ($33.2M), Colombia ($14.6M), United States ($11.7M), and El Salvador ($11.2M), and imports mostly from United States ($616M), Colombia ($184M), Netherlands ($147M), Germany ($53.8M), and China ($35.4M).

Location: Aruba borders Dominican Republic and Venezuela by sea.

Product Exports

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Top Export (2018): Planes, Helicopters, and/or Spacecraft, $90M

Top Destination (2018): Netherlands, $110M

In 2018 Aruba exported a total of $199M, making it the number 173 exporter in the world. During the last five reported years the exports of Aruba have changed by -$433M from $632M in 2013 to $199M in 2018.

The most recent exports are led by Planes, Helicopters, and/or Spacecraft ($90M), Crude Petroleum ($29M), Petroleum Gas ($15.3M), Gas Turbines ($14.4M), and Hard Liquor ($10.6M). The most common destination for the exports of Aruba are Netherlands ($110M), Nicaragua ($33.2M), Colombia ($14.6M), United States ($11.7M), and El Salvador ($11.2M).

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Product Imports

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Top Import (2018): Refined Petroleum, $155M

Top Origin (2018): United States, $616M

In 2018 Aruba imported $1.3B, making it the number 166 trade destination in the world. During the last five reported years the imports of Aruba changed by -$1.84B from $3.14B in 2013 to $1.3B in 2018.

The most recent imports of Aruba are led by Refined Petroleum ($155M), Crude Petroleum ($155M), Cars ($53M), Planes, Helicopters, and/or Spacecraft ($45.6M), and Jewellery ($38.9M). The most common import partners for Aruba are United States ($616M), Colombia ($184M), Netherlands ($147M), Germany ($53.8M), and China ($35.4M).

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Flow

Fastest Growing Export Markets (2017 - 2018)

Fastest Growing Import Markets (2017 - 2018)

Aruba Exports Services (2016): $2.06B

Aruba Imports Services (2016): $867M

In 2016, Aruba exported $2.06B worth of services. The top services exported by Aruba in 2016 were Travel ($1.63B), Other business services ($248M), Transportation ($108M), Government services, n.i.e. ($29.2M), and Computer and information services ($22.1M).

The top services imported by Aruba in 2016 were Travel ($319M), Other business services ($258M), Transportation ($110M), Computer and information services ($60M), and Government services, n.i.e. ($44.3M).

Trade Forecasts

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This section shows forecasts for total product exports and imports for Aruba. The forecast is based in a long short-term memory model or LSTM constructed using yearly trade data.

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Tariffs by Product

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The top product import tariffs by their MFN Ad Valorem value for Aruba are Cigars, cheroots and cigarillos, containing tobacco (57%) and Cigars, cheroots, cigarettes, with tobacco substitute (57%).

Click any of the products in the bar chart to see the specific Ad Valorem Duty Rates by partner country.

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*The tariffs applied to imports for Aruba are:
136: Most Favoured Nation duty rate treatement

Economic Complexity

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Most Specialized Products by RCA Index

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Aruba has a high level of specialization in Planes, Helicopters, and/or Spacecraft (49.1), Hard Liquor (30.2), Rolled Tobacco (23), Soap (21.7), and Scrap Copper (18.6). 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

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The highest complexity exports of Aruba according to the product complexity index (PCI) are Drawing, mathematical, length measuring instruments (1.57), Machine tools except lathes to drill, bore/mill/thread (1.31), Orthopaedic appliances (1.03), Spectacles, goggles etc., corrective or protective (0.86), and Auxiliary plant for boilers (0.85). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.

Export Opportunities by Relatedness

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The top export opportunities for Aruba according to the relatedness index, are Gold (0.056), Collector's Items (0.055), Cocoa Beans (0.054), Non-fillet Frozen Fish (0.052), and Recreational Boats (0.051). Relatedness measures the distance between a country's current exports and each product. The barchart show only products that Aruba is not specialized in.

The 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 it is currently specialized in.

Diversification Frontier

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The Complexity-Relatedness diagram compares the risk and the strategic value of a country's potential export oppotunities. Relatedness is a 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 emissions.