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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.)
      note: GDP numbers reflect US spending

      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%

      Population below poverty line NA%

      Household income or consumption by percentage share
      lowest 10%: NA%
      highest 10%: NA%

      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
      revenues: $57.7 million
      expenditures: $80.8 million, including capital expenditures of $17.1 million (FY98/99 est.)

      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.

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    Revised 30-Jan-03
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