| People | Kiribati |
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Economy - overview:
|
A remote country of 33 scattered coral atolls, Kiribati has few natural resources. Commercially viable phosphate deposits were exhausted at the time of independence from the UK in 1979. Copra and fish now represent the bulk of production and exports. The economy has fluctuated widely in recent years. Economic development is constrained by a shortage of skilled workers, weak infrastructure, and remoteness from international markets. Tourism provides more than one-fifth of GDP. Private sector initiatives and a financial sector are in the early stages of development. Foreign financial aid from UK, Japan, Australia, New Zealand, and China equals more than 10% of GDP. Remittances from seamen on merchant ships abroad account for more than $5 million each year. Kiribati receives around $15 million annually for the government budget from an Australian trust fund. |
GDP (purchasing power parity):
|
$240 million (2006 est.) |
GDP (official exchange rate):
|
$73 million (2007 est.) |
GDP - real growth rate:
|
0.3% (2005) |
GDP - per capita (PPP):
|
$1,000 (2004 est.) |
GDP - composition by sector:
|
agriculture: 8.9%
industry: 24.2%
services: 66.8% (2004) |
Investment (gross fixed):
|
void |
Population below poverty line:
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NA% |
Household income or consumption by percentage share:
|
lowest 10%: NA%
highest 10%: NA% |
Distribution of family income - Gini index:
|
void |
Inflation rate (consumer prices):
|
0.5% (2005 est.) |
Labor force:
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7,870 economically active, not including subsistence farmers (2001 est.) |
Labor force participation rate:
|
7.13 % of population |
Labor force - by occupation:
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agriculture: 2.7%
industry: 32%
services: 65.3% (2000) |
Unemployment rate:
|
2% official rate; underemployment 70% (1992 est.) |
Budget:
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revenues: $55.52 million
expenditures: $59.71 million (FY05) |
Budget revenues per capita:
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504 USD per capita |
Public debt:
|
void |
Industries:
|
fishing, handicrafts |
Industrial production growth rate:
|
0.7% (1991 est.) |
Electricity - production:
|
9 million kWh (2005) |
Electricity - production per capita:
|
82 kWh per capita |
Electricity - consumption:
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8.37 million kWh (2005) |
Electricity - consumption - per capita:
|
76 kWh per capita |
Electricity - exports:
|
0 kWh (2005) |
Electricity - imports:
|
0 kWh (2005) |
Oil - production:
|
0 bbl/day (2005 est.) |
Oil - production per capita:
|
void |
Oil - consumption:
|
220 bbl/day (2005 est.) |
Oil - consumption - per capita:
|
0.73 bbl/year per capita |
Oil - exports:
|
0 bbl/day (2004) |
Oil - imports:
|
216.4 bbl/day (2004) |
Oil - proved reserves:
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0 bbl (1 January 2006 est.) |
Natural gas - production:
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0 cu m (2005 est.) |
Natural gas - production per capita:
|
void |
Natural gas - consumption:
|
0 cu m (2005 est.) |
Natural gas - consumption - per capita:
|
void |
Natural gas - exports:
|
0 cu m (2005 est.) |
Natural gas - imports:
|
0 cu m (2005) |
Natural gas - proved reserves:
|
0 cu m (1 January 2006 est.) |
Agriculture - products:
|
copra, taro, breadfruit, sweet potatoes, vegetables; fish |
Current account balance:
|
-$19.87 million (2004) |
Current account balance - per capita:
|
-180 USD per capita |
Exports:
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$17 million f.o.b. (2004 est.) |
Exports per capita:
|
155 USD per capita |
Exports - commodities:
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copra 62%, coconuts, seaweed, fish |
Exports - partners:
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US 22.8%, Belgium 21.5%, Japan 14.3%, Samoa 7.8%, Australia 7.5%, Malaysia 6.7%, Taiwan 5.6%, Denmark 4.6% (2006) |
Imports:
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$62 million c.i.f. (2004 est.) |
Imports per capita:
|
562 USD per capita |
Imports - commodities:
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foodstuffs, machinery and equipment, miscellaneous manufactured goods, fuel |
Imports - partners:
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Australia 33%, Fiji 27.1%, Japan 18.1%, NZ 6.9% (2006) |
Reserves of foreign exchange and gold:
|
void |
Reserves of foreign exchange and gold - per capita:
|
void |
Debt - external:
|
$10 million (1999 est.) |
Debt - external - per capita:
|
91 USD per capita |
Stock of direct foreign investment - at home:
|
void |
Stock of direct foreign investment - abroad:
|
void |
Market value of publicly traded shares:
|
$NA |
Economic aid - donor:
|
void |
Economic aid - recipient:
|
$27.84 million largely from UK and Japan (2005) |
Economic aid - recipient per capita:
|
253 USD per capita |
Currency (code):
|
Australian dollar (AUD) |
Exchange rates:
|
Australian dollars per US dollar - 1.2137 (2007), 1.3285 (2006), 1.3095 (2005), 1.3598 (2004), 1.5419 (2003) |
Fiscal year:
|
NA |
|
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