| I-KIRIBATI ECONOMY STATS: |
| Top Stats |
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Agriculture > products
copra, taro, breadfruit, sweet potatoes, vegetables; fish |
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Budget > Revenues
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$55,520,000.00 |
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[163rd of 166]
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Current account balance
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-$21,000,000.00 |
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[66th of 181]
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Debt > External
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$10,000,000.00 |
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[10th of 136]
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Economy > Overview
A remote country of 33 scattered coral atolls, Kiribati has few natural resources. Commercially viable phosphate deposits were exhausted at the time of independence from the UK in 1979. Copra and fish now represent the bulk of production and exports. The economy has fluctuated widely in recent years. Economic development is constrained by a shortage of skilled workers, weak infrastructure, and remoteness from international markets. Tourism provides more than one-fifth of GDP. Private sector initiatives and a financial sector are in the early stages of development. Foreign financial aid from UK, Japan, Australia, New Zealand, and China equals more than 10% of GDP. Remittances from seamen on merchant ships abroad account for more than $5 million each year. Kiribati receives around $15 million annually for the government budget from an Australian trust fund. |
Exchange rates
Australian dollars per US dollar - 1.3598 (2004), 1.5419 (2003), 1.8406 (2002), 1.9334 (2001), 1.7248 (2000) |
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Exports
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$17,000,000.00 |
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[51st of 189]
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Exports to US
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$700,000.00 |
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[179th of 224]
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GDP
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$70,707,830.00 |
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[171st of 203]
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GDP (purchasing power parity)
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$348,000,000.00 |
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[186th of 187]
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GDP > Composition by sector > Industry
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24.2% |
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[16th of 146]
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GDP > Real growth rate
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2% |
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[168th of 198]
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GDP growth > annual %
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0.3 annual %
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[165th of 187]
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GDP per capita, PPP > current international $
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4,596.84 PPP $
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[92nd of 169]
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Gross National Income
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$77,055,000.00 |
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[169th of 172]
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Imports of goods, services and income > BoP, current US$
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46,723,420 BoP $
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[155th of 156]
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Inflation rate (consumer prices)
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0.2% |
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[179th of 192]
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Services, etc., value added > constant 2000 US$
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31,444,990 constant 2000 US$
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[154th of 164]
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Tourist arrivals by region of origin > Europe
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133 |
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[179th of 195]
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Trade balance with US
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-$600,000.00 |
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[115th of 224]
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