| People | Palau |
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Economy - overview:
|
The economy consists primarily of tourism, subsistence agriculture, and fishing. The government is the major employer of the work force, relying heavily on financial assistance from the US. The Compact of Free Association with the US, entered into after the end of the UN trusteeship on 1 October 1994, provided Palau with up to $700 million in US aid for the following 15 years, in return for furnishing military facilities. Business and tourist arrivals numbered 63,000 in 2003. The population enjoys a per capita income roughly 50% higher than that of the Philippines and much of Micronesia. Long-run prospects for the key tourist sector have been greatly bolstered by the expansion of air travel in the Pacific, the rising prosperity of leading East Asian countries, and the willingness of foreigners to finance infrastructure development. |
GDP (purchasing power parity):
|
$124.5 million
note: GDP estimates includes US subsidy (2004 est.) |
GDP (official exchange rate):
|
$145 million (2005) |
GDP - real growth rate:
|
5.5% (2005 est.) |
GDP - per capita (PPP):
|
$7,600 (2005 est.) |
GDP - composition by sector:
|
agriculture: 6.2%
industry: 12%
services: 81.8% (2003) |
Investment (gross fixed):
|
void |
Population below poverty line:
|
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):
|
2.7% (2005 est.) |
Labor force:
|
9,777 (2005) |
Labor force participation rate:
|
46.35 % of population |
Labor force - by occupation:
|
agriculture: 20%
industry: NA%
services: NA% |
Unemployment rate:
|
4.2% (2005 est.) |
Budget:
|
revenues: $72.07 million
expenditures: $72.43 million (FY04/05 est.) |
Budget revenues per capita:
|
3,417 USD per capita |
Public debt:
|
void |
Industries:
|
tourism, craft items (from shell, wood, pearls), construction, garment making |
Industrial production growth rate:
|
NA% |
Electricity - production:
|
void |
Electricity - production per capita:
|
void |
Electricity - consumption:
|
void |
Electricity - consumption - per capita:
|
void |
Electricity - exports:
|
void |
Electricity - imports:
|
void |
Oil - production:
|
void |
Oil - production per capita:
|
void |
Oil - consumption:
|
void |
Oil - consumption - per capita:
|
void |
Oil - exports:
|
void |
Oil - imports:
|
void |
Oil - proved reserves:
|
void |
Natural gas - production:
|
void |
Natural gas - production per capita:
|
void |
Natural gas - consumption:
|
void |
Natural gas - consumption - per capita:
|
void |
Natural gas - exports:
|
void |
Natural gas - imports:
|
void |
Natural gas - proved reserves:
|
void |
Agriculture - products:
|
coconuts, copra, cassava (tapioca), sweet potatoes; fish |
Current account balance:
|
$15.09 million (FY03/04) |
Current account balance - per capita:
|
716 USD per capita |
Exports:
|
$5.882 million f.o.b. (2004 est.) |
Exports per capita:
|
279 USD per capita |
Exports - commodities:
|
shellfish, tuna, copra, garments |
Exports - partners:
|
US, Japan, Singapore (2006) |
Imports:
|
$107.3 million f.o.b. (2004 est.) |
Imports per capita:
|
5,087 USD per capita |
Imports - commodities:
|
machinery and equipment, fuels, metals; foodstuffs |
Imports - partners:
|
US, Singapore, Japan, South Korea (2006) |
Reserves of foreign exchange and gold:
|
void |
Reserves of foreign exchange and gold - per capita:
|
void |
Debt - external:
|
$0 (FY99/00) |
Debt - external - per capita:
|
void |
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:
|
$23.46 million (2005) |
Economic aid - recipient per capita:
|
1,113 USD per capita |
Currency (code):
|
US dollar (USD) |
Exchange rates:
|
the US dollar is used |
Fiscal year:
|
1 October - 30 September |
|
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