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    Kiribati Economy - 1989

      Overview: Living standards are well below those of most countries in the region. During the 1980s economic growth has been flat. In the five years preceding 1987, real GDP declined in three of those years, ending the period with a GDP below that of 1982. The economy is dependent on tuna fish and copra exports. Resource constraints severely limit other potential exports. The small land area and poor soils prevent the production of most agricultural commodities. There is little manufacturing. Most paid employment is in the public sector.

      GDP: $24.7 million, per capita $370; real growth rate 0.5% (1987)

      Inflation rate (consumer prices): 5% (1987)

      Unemployment rate: 2% (1985); underemployment estimated to be higher

      Budget: revenues $21.2 million; expenditures $20.2 million, including capital expenditures of $7.4 million (1987)

      Exports: $2.3 million (f.o.b., 1987 est.); @m5commodities--fish 55%, copra 42%; @m5partners--EC 20%, Marshall Islands 12%, US 8%, American Samoa 4% (1985)

      Imports: $17.5 million (c.i.f., 1987 est.); @m5commodities--foodstuffs, fuel, transportation equipment; @m5partners--Australia 39%, Japan 21%, NZ 6%, UK 6%, US 3% (1985)

      External debt: $2.0 million (December 1987 est.)

      Industrial production: growth rate NA%

      Electricity: 2,750 kW capacity; 8 million kWh produced, 120 kWh per capita (1988)

      Industries: fishing, handicrafts

      Agriculture: coconuts, copra; subsistence crops of roots and tubers, vegetables, melons, bananas; pigs, chickens; domestic fishing

      Aid: Western (non-US) countries, ODA and OOF bilateral commitments (1970-86), $230 million; Australia (1970-84), $28 million

      Currency: Australian dollar (plural--dollars); 1 Australian dollar ($A) = 100 cents

      Exchange rates: Australian dollars ($A) per US$1--1.3654 (March 1988), 1.4267 (1987), 1.4905 (1986), 1.4269 (1985)

      Fiscal year: NA

      NOTE: The information regarding Kiribati on this page is re-published from the 1989 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Kiribati Economy 1989 information contained here. All suggestions for corrections of any errors about Kiribati Economy 1989 should be addressed to the CIA.

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    Revised 15-Apr-03
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