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Aruba

Capital Oranjestad
Area Sq Km 193
Area Sq Miles 75
Population 94 000
Languages Papiamento, Dutch, English
Religions Protestant, Roman, Catholic
Currency Florin
National Day

Aruba

Economy Overview
Between 1824 and 1916, the economy was based on gold mining. Subsequently, an oil refinery, opened in the mid-1920s and once among the largest in the world, was the most important commercial operation on the island until its closure in 1985. However, it was re-opened in 1990 under an agreement with an American operator to establish transhipment (mainly between Venezuela and the USA), storage and refining facilities; and oil has now reassumed its central position in the Aruban economy. In the meantime, a sizeable tourism sector grew up. More recently, it has been joined by offshore service industries including finance and data processing. Aruba's free-port status, ship bunkering and repair facilities are the island's other main sources of revenue. However, in June 2000, Aruba was identified by the Organisation for Economic Cooperation and Development (OECD) as one of 35 'tax havens' whose financial laws are believed to encourage large-scale tax evasion and money-laundering. It has until 2005 to tighten its regime or face sanctions. Light industry is limited to the production of some tobacco products, drinks and consumer goods. Agriculture is confined to small-scale activity because of poor soil quality. Aruba is classed as an Associate Overseas Territory of the European Union. The most important trading partners are the Netherlands, the USA, Colombia and Venezuela.
Government
Aruba is a separate entity within the Kingdom of the Netherlands, with a Governor appointed by the Dutch monarch, a 21-member parliament, or Staten, directly elected for a four-year term, and a Council of Ministers.

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