The Central Bank of Aruba published its State of the Economy 2025 Q2 report, showing that Aruba’s economy continued to expand in the first half of 2025 but at a slower pace as the post-pandemic rebound normalized. Real GDP grew 3.3% year over year in the first half, down from 9.8% in the same period of 2024, with tourism remaining the main driver of activity. Stay-over arrivals increased 3.3%, led mainly by Latin American markets, while average length of stay declined further. Inflation stayed contained, with 12-month average inflation easing to 0.9% in June 2025. Domestic demand and investment indicators generally strengthened, including 18.9% growth in the value of new consumer credit, a sharp increase in construction permits and a 113.5% rise in the value of new commercial mortgages, although business sentiment was weaker than a year earlier despite improving from the previous quarter. Externally, the current account recorded a AWG 697.8 million surplus and international reserves covered 8.1 months of current account payments. Private sector credit expanded, nonperforming loans fell to 1.1%, the capital adequacy ratio stood at 31.8%, and government finances posted a AWG 203.4 million surplus, lowering the estimated debt-to-GDP ratio to 67.0% from 68.6% at the end of 2024.
Central Bank of Aruba2026-06-17
Central Bank of Aruba reports slower first half 2025 growth of 3.3% as tourism sustains current account and fiscal surpluses
The Central Bank of Aruba said Aruba’s economy expanded at a slower 3.3% year-over-year pace in the first half of 2025, with tourism still driving activity and 12-month average inflation easing to 0.9%. The report also showed a AWG 697.8 million current account surplus, reserves covering 8.1 months of payments, and a AWG 203.4 million fiscal surplus that lowered the debt-to-GDP ratio to 67.0%.