Reference and Encyclopedia Resource 

AllRefer Channels :: Health | Yellow Pages | | Reference

June 19, 2024  

You are here : > Reference > World > Countries > Palau > Palau - Economy

Palau: Economy

Economy 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.
purchasing power parity - $174 million
note: $174 million $174 million 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%
Population below poverty line:
Household income or consumption by percentage share:
lowest 10%: NA%
highest 10%: NA%
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.)
revenues: $57.7 million
expenditures: $80.8 million, including capital expenditures of $17.1 million (FY 98/99 est.)
tourism, craft items (from shell, wood, pearls), construction, garment making
Industrial production growth rate:
Electricity - production by source:
Agriculture - products:
coconuts, copra, cassava (tapioca), sweet potatoes
$18 million f.o.b. (2001 est.)
Exports - commodities:
shellfish, tuna, copra, garments
Exports - partners:
US, Japan, Singapore (2000)
$99 million f.o.b. (2001 est.)
Imports - commodities:
machinery and equipment, fuels, metals; foodstuffs
Imports - partners:
US, Guam, Japan, Singapore, Korea (2000)
Debt - external:
$0 (FY 99/00)
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
US dollar (USD)
Currency code:
Exchange rates:
the US dollar is used
Fiscal year:
1 October - 30 September

Also See:

Background & Country Profile
Transnational Issues & International Disputes


Source: The CIA World Fact Book 2003

Content on this web site is provided for informational purposes only. We accept no responsibility for any loss, injury or inconvenience sustained by any person resulting from information published on this site. We encourage you to verify any critical information with the relevant authorities.

About Us | Contact Us | Terms of Use | Privacy  
Copyright 2013 All Rights reserved.
Site best viewed in 800 x 600 resolution.