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2001 International Monetary Fund September 2001 IMF Country Report No, 01/158 Kingdom of the Netherlands—Aruba: Statistical Appendix This Statistical Appendix on Kingdom of the Netherlands—Aruba was prepared by a staff team of the International Monetary Fund as background documentation for the periodic consultation with the member country. It is based on the information available at the time it was completed on August 1, 2001. The views expressed in this document are those of the staff team and do not necessarily reflect the views of the government of the Kingdom of the Netherlands—Aruba or the Executive Board of the IMF The policy of publication of staff reports and other documents by the IMF allows for the deletion of market-sensitive information, To assist the IMF in evaluating the publication policy, reader comments are invited and may be sent by e-mail to [email protected]. Copies of this report are available to the public from International Monetary Fund » Publication Services 700 19th Street, N.W. • Washington, D.C. 20431 Telephone: (202) 623 7430 • Telefax: (202) 623 7201 E-mail: [email protected] • Internet http://www.imf.org Price: $15.00 a copy International Monetary Fund Washington, D.C. ©International Monetary Fund. Not for Redistribution INTERNATIONAL MONETARY FUND KINGDOM OF THE NETHERLANDS—ARUBA Statistical Appendix Prepared by a staff team consisting of Caroline Kollau and Marie-Odile Louppe (both EU1) Approved by European I Department August 1, 2001 Contents Page Al. Indicators of Tourism Activity 2 A2. Estimated GDP and Components 3 A3. Components of GDP 4 A4. Real GDP 5 A5. Contributions to Real GDP Growth 6 A6. Changes in the Consumer Price Index 7 A7. Legal Minimum Wages 8 A8. Summary of Trends in Public Finance 9 A9. Public Finances 10 A10. Tax Revenue 11 A11. Tax Revenue (In percent of GDP) 12 A12. Operational Budget of the Social Insurance Bank (SVB) 13 A13. Government Debt 14 A14. Balance of Payments Summary 15 A15. Balance of Payments Summary (In percent of GDP) 16 A16. Monetary Survey 17 A17. Monetary Developments 18 A18. Changes in Sources of Broad Money 19 ©International Monetary Fund. Not for Redistribution -2- Table Al. Aruba: Indicators of Tourism Activity 1994 1995 1996 1997 1998 1999 2000 Total revenue (Af. million) 838 932 1,098 1,196 1,307 1,412 1,499 (Change in percent) 0,3 11.2 17.8 8.9 9.2 8.0 6.2 (Same, in real terms) -6,0 7.8 14.6 5.9 7.3 5.8 2.2 Stay-over visitors (thousands) 581 619 641 646 647 683 721 (Change in percent) 3.4 6.5 3.5 0.8 0.2 5.5 5.5 Visitor nights (thousands) 4,234 4,473 4714 4835 4890 5143 5248 (Change in percent) 5.1 5.7 5.4 2.6 1.1 5.2 2.0 Average stay (nights) 7.3 7.2 7.4 7.5 7.6 7.5 7.3 Expenditure per tourist per day (Af.) 198 208 233 247 267 274 286 Hotel occupancy rate (percent) 74.5 72.0 71.5 73.5 77.6 77.0 76.0 Hotel capacity 5,985 6,462 6,483 6,586 6,619 6,673 7,036 (Change in percent) L7 8.0 0.3 L6 0-5 0.8 5.4 Cruise tourists (thousands) 257 294 317 298 258 289 490 (Change in percent) 2,4 14,3 7.8 -6.0 -13.4 12.2 69.5 Contribution to foreign exchange earnings I/ 70 67 71 73 74 71 73 Sources: Central Bank of Aruba, Quarterly Bulletin; Aruba Tourism Authority; and staff estimates. I/ Tourism revenues as percentage of current account revenues, excluding oil and the free zone. ©International Monetary Fund. Not for Redistribution -3- Table A2. Aruba: Estimated GDP and Components (In millions of Aruban florins at current prices) 1994 1995 1996 1997 1998 1999 2000 Gross domestic product 2,381 2,524 2,751 2,949 3,094 3,307 3,525 Private absorption non-oil sector 1,945 2,043 2,144 2,316 2,489 2,589 2,707 Consumption 1,645 1,743 1,844 1,975 2,137 2,228 2,337 Private investment 300 300 300 341 352 360 370 Government absorption 440 490 529 549 549 588 640 Consumption 412 432 450 469 511 554 611 Investment 29 58 79 SO 38 34 28 Trade and nonfactor services, non-oil -65 -84 18 14 -23 60 102 Trade balance -644 -724 -720 -679 -839 -887 -972 Nonfactor services 579 640 738 693 815 947 1,075 Oil sector 61 74 61 70 80 70 76 Source: Staff estimates based on data supplied by the authorities. ©International Monetary Fund. Not for Redistribution -4- Table A3. Aruba: Components of GDP (In percent) 1994 1995 1996 1997 1998 1999 2000 Gross domestic product 100.0 100.0 100.0 100,0 100.0 100,0 100.0 Private absorption 81.7 81.0 77.9 78.5 80.4 78.3 76.8 Consumption 69.1 69.1 67.0 67,0 69.1 67.4 66.3 Private investment 12.6 11.9 10.9 11.6 11.4 10.9 10.5 Government absorption 18.5 19.4 19.2 18.6 17,7 17,8 18.1 Consumption 17.3 17.1 16.4 15.9 16.5 16.8 17.3 Investment 1.2 2.3 2.9 2.7 1.2 1.0 0.8 Trade and nonfactor services, non-oil -2.7 -3.3 0.6 0.5 -0.8 1.8 2.9 Trade balance -27.0 -28.7 -26.2 -23.0 -27.1 -26.8 -27.6 Nonfactor services 24.3 25.4 26.8 23.5 26.4 28.6 30.5 Oil sector 2.5 2.9 2.2 2.4 2.6 2.1 2.2 Source: Staff estimates based on data supplied by the authorities. ©International Monetary Fund. Not for Redistribution -5- Table A4. Aruba: Real GDP (In millions of Aruban florins at constant 1995 prices) 1994 1995 1996 1997 1998 1999 2000 Gross domestic product 2,461 2,524 2,665 2,774 2,856 2,985 3,060 Percent growth 8.2 2.6 5.6 4.1 3.0 4.5 2.5 Private absorption 2,010 2,043 2,077 2,179 2,298 2,337 2,350 Percent growth 12,3 1.6 1.7 4.9 5.5 1.7 0.5 Consumption 1,700 1,743 1,786 1,858 1,973 2,011 2,028 Percent growth 8.2 2.5 2.5 4.0 6.2 2,0 0.8 Investment 310 300 291 321 325 325 321 Percent growth 41.1 -3.3 -3.1 10.4 13 0,1 -1.2 Government absorption 455 490 512 517 507 531 555 Percent growth 7,4 7.7 4.5 0.9 -1.9 4.8 4.6 Consumption 426 432 436 442 472 500 531 Percent growth 15.0 1.5 0.9 1.3 6.8 6.1 6.1 Investment 30 58 76 75 35 30 25 Percent growth -45.1 96.9 30.8 -1.4 -53.4 -12.8 -19.3 Trade and nonfactor services, non-oil -67 -84 17 13 -22 54 89 Trade balance -666 -724 -698 -638 -774 -800 -844 Nonfactor services 599 640 715 651 753 854 933 Oil sector 63 74 59 66 73 64 66 Percent growth -10,4 18.8 -20,8 11.3 12,1 -13.5 4.3 Source: Staff estimates based on data supplied by the authorities. ©International Monetary Fund. Not for Redistribution -6- Table A5. Aruba: Contributions to Real GDP Growth (In percent) 1994 1995 1996 1997 1998 1999 2000 Private absorption non-oil sector 9.7 1.3 1.3 3.8 4,3 1.4 0.4 Consumption 5.7 1.7 1.7 2.7 4,1 1.4 0,6 Private investment 4.0 -0.4 -0.4 1.1 0.2 0.0 -0.1 Government absorption 1,4 1.4 0.9 0.2 -0.4 0.8 0.8 Consumption 2.4 0.3 0.2 0.2 1.1 1.0 1.0 Investment -1.1 1.2 0.7 0.0 -1.4 -0.2 -0.2 Trade and nonfactor services, non-oil -2.5 -0.7 4.0 -0.2 -1.2 2.6 1.2 Trade balance -1.4 -2.4 1.0 2.2 -4.9 -0,9 -1.5 Nonfactor services -1.1 1.7 3.0 -2.4 3.7 3.6 2.6 Oil sector -0,3 0.5 -0.6 0.2 0.3 -0.3 0.1 Growth real GDP 8.2 2.6 5.6 4.1 3.0 4.5 2.5 Memorandum Items: Nominal growth rate 15.0 6.0 9.0 7.2 4.9 6.9 6.6 GDP deflator 6.3 3,4 3.2 3.0 1.9 2.3 4.0 Source: Staff estimates based on data supplied by the authorities. ©International Monetary Fund. Not for Redistribution -7- Table A6. Aruba: Changes in the Consumer Price Index (Annual percentage change, period average) 1996 1997 1998 1999 2000 Total 3.2 3,0 1,9 2.3 4.0 Food 4.0 3.1 2,0 2.1 1.8 Beverage and tobacco 2.7 1.9 1.5 1.3 1.5 Clothing and footwear 6.4 4.9 6.3 5.5 5.6 Housing costs 1.5 5.0 0.8 2.0 8.1 Housekeeping and furnishings 3.7 1.8 2.6 3.1 3.5 Recreation and education 4.3 2.5 2.1 2.7 5.6 Miscellaneous 1.8 2.1 1.5 1.7 4.1 Medical care 6.6 2.1 0,5 0.3 0.4 Transport and communications 1.8 1.6 -0.1 0.6 3.1 United States 2.9 2.3 1.6 2.2 3,4 Curacao 3,6 3.3 1.1 0.4 5.8 Sources: Central Bank of Aruba; and IMF, 1FS.