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    Palau Economy - 2003
    https://theodora.com/wfb2003/palau/palau_economy.html
    SOURCE: 2003 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
      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%


      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: 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.)


      Industries: tourism, craft items (from shell, wood, pearls), construction, garment making


      Industrial production growth rate: NA%


      Electricity - production by source: 0%


      Agriculture - products: coconuts, copra, cassava (tapioca), sweet potatoes


      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)


      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


      NOTE: The information regarding Palau on this page is re-published from the 2003 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Guinea Geography 2003 information contained here. All suggestions for corrections of any errors about Palau Economy 2003 should be addressed to the CIA.

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    https://theodora.com/wfb2003/palau/palau_economy.html

    Revised 20-Sep-03
    Copyright © 2003 Photius Coutsoukis (all rights reserved)


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