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Oceania > Nauru > Economy

NAURUAN ECONOMY STATS:   Top Stats   All Stats  
View this page with:    Just Stats   Sources   Definitions   Both  
Agriculture > products coconuts
Asian countries by GDP per capita > GDP Per capita $5,000.00 [27th of 54]
Budget > Expenditures $13,500,000.00 Time series [165th of 165]
Budget > Revenues $13,500,000.00 Time series [166th of 166]
Debt > External $33,300,000.00 Time series [96th of 136]
Economic aid > Recipient $20,000,000.00 Time series [124th of 134]
Economy > Overview
Revenues of this tiny island have traditionally come from exports of phosphates, now significantly depleted. An Australian company in 2005 entered into an agreement intended to exploit remaining supplies. Few other resources exist with most necessities being imported, mainly from Australia, its former occupier and later major source of support. The rehabilitation of mined land and the replacement of income from phosphates are serious long-term problems. In anticipation of the exhaustion of Nauru's phosphate deposits, substantial amounts of phosphate income were invested in trust funds to help cushion the transition and provide for Nauru's economic future. As a result of heavy spending from the trust funds, the government faces virtual bankruptcy. To cut costs the government has frozen wages and reduced overstaffed public service departments. In 2005, the deterioration in housing, hospitals, and other capital plant continued, and the cost to Australia of keeping the government and economy afloat continued to climb. Few comprehensive statistics on the Nauru economy exist, with estimates of Nauru's GDP varying widely.
Exchange rates
Australian dollars per US dollar - 1.3598 (2004), 1.5419 (2003), 1.8406 (2002), 1.9334 (2001), 1.7248 (2000)
Exports $64,000.00 Time series [172nd of 189]
Exports > Commodities phosphates Time series
Exports > Partners
South Africa 63.7%, South Korea 7.6%, Canada 6.6%
Exports to US $0.00 [220th of 224]
Fiscal year 1 July - 30 June Time series
GDP $60,000,000.00 Time series [196th of 203]
GDP (purchasing power parity) $60,000,000.00 Time series [179th of 187]
Imports $20,000,000.00 Time series [57th of 185]
Imports > Commodities
food, fuel, manufactures, building materials, machinery
Imports from US $200,000.00 [208th of 224]
Industries
phosphate mining, offshore banking, coconut products
Trade balance with US $200,000.00 [96th of 224]

... View all Economy stats

SOURCES: CIA World Factbook, 28 July 2005; Wikipedia: List of Asian countries by GDP per capita ; All CIA World Factbooks 18 December 2003 to 18 December 2008; US Census Bureau; World Development Indicators database and CIA World Factbook

ALTERNATIVE NAMES: Nauru, Republic of Nauru

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