Economy Of Palau

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. Business and tourist arrivals numbered 50,000 in FY00/01. The population enjoys a per capita income twice 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 - $174 million note: GDP estimate includes US subsidy (2001 est.)
GDP - real growth rate	1% (2001 est.)
GDP - per capita	purchasing power parity - $9,000 (2001 est.)
GDP - composition by sector	agriculture: NA industry: NA services: NA
Investment gross fixed
Population below poverty line	NA
Household income or consumption by percentage share	lowest 10%: NA highest 10%: NA
Distribution of family income - Gini index
Inflation rate consumer prices	3.4% (2000 est.)
Labor force	9,845 (2000)
Labor force by occupation	agriculture 20%, industry NA, services NA (1990)
Unemployment rate	2.3% (2000 est.)
Budget	revenues: $57.7 million expenditures: $80.8 million, including capital expenditures of $17.1 million (FY98/99 est.)
Public debt
Agriculture products	coconuts, copra, cassava (tapioca), sweet potatoes
Industries	tourism, craft items (from shell, wood, pearls), construction, garment making
Industrial production growth rate	NA
Electricity production
Electricity production by source	NA
Electricity consumption
Electricity exports
Electricity imports
Oil production
Oil consumption
Oil exports
Oil imports
Oil proved reserves
Natural gas production
Natural gas consumption
Natural gas exports
Natural gas imports
Natural gas proved reserves
Current account balance
Exports	$18 million f.o.b. (2001 est.)
Exports commodities	shellfish, tuna, copra, garments
Exports partners	US, Japan, Singapore (2000)
Imports	$99 million f.o.b. (2001 est.)
Imports commodities	machinery and equipment, fuels, metals; foodstuffs
Imports partners	US, Guam, Japan, Singapore, Korea (2000)
Reserves of foreign exchange gold
Debt external	$0 (FY99/00)
Economic aid recipient	$155.8 million ; note - the Compact of Free Association with the US, entered into after the end of the UN trusteeship on 1 October 1994, provides Palau with up to $700 million in US aid over 15 years in return for furnishing military facilities
Currency	US dollar (USD)
Currency code	USD
Exchange rates	the US dollar is used
Fiscal year	1 October - 30 September

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This information was reproduced in part from the CIA World Fact book.

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Economy Of Palau

Economy Of Palau

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