Oceania > Nauru > Economy

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Agriculture > products	coconuts
Asian countries by GDP per capita > GDP Per capita	$5,000.00		[27th of 54]
Budget > Expenditures	$13,500,000.00		[165th of 165]
Budget > Revenues	$13,500,000.00		[166th of 166]
Debt > External	$33,300,000.00		[96th of 136]
Economic aid > Recipient	$20,000,000.00		[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		[172nd of 189]
Exports > Commodities	phosphates
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
GDP	$60,000,000.00		[196th of 203]
GDP (purchasing power parity)	$60,000,000.00		[179th of 187]
Imports	$20,000,000.00		[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]

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