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![]() ![]() Palau Economy - 2002 https://greekorthodoxchurch.org/wfb2002/palau/palau_economy.html SOURCE: 2002 CIA WORLD FACTBOOK 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 (2001 est.)
GDP - real growth rate 1% (2001 est.) GDP - per capita purchasing power parity - $9,000 (2001 est.) GDP - composition by sector
Population below poverty line NA% Household income or consumption by percentage share
Inflation rate (consumer prices) 3.4% (2000 est.) Labor force 8,300 (1999) Labor force - by occupation agriculture 20%, industry NA%, services NA% (1990) Unemployment rate 2.3% (2000 est.) Budget
Industries tourism, craft items (from shell, wood, pearls), construction, garment making Industrial production growth rate NA% Agriculture - products coconuts, copra, cassava (tapioca), sweet potatoes Exports $11 million (f.o.b., 1999) Exports - commodities shellfish, tuna, copra, garments Exports - partners US, Japan, Singapore Imports $126 million (f.o.b., 1999) Imports - commodities machinery and equipment, fuels, metals; foodstuffs Imports - partners US Debt - external $0 (FY99/00) Economic aid - recipient $155.8 million (1995); 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
NOTE: The information regarding Palau on this page is re-published from the 2002 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Palau Economy 2002 information contained here. All suggestions for corrections of any errors about Palau Economy 2002 should be addressed to the CIA. |