Oceania > Palau > Economy

View full size

Agriculture > products coconuts, copra, cassava, sweet potatoes
Budget > Revenues	$57,700,000.00		[155th of 166]
Current account balance	$15,090,000.00		[61st of 181]
Debt > External	$0.00		[122nd of 136]
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. The Compact of Free Association with the US, entered into after the end of the UN trusteeship on 1 October 1994, provided Palau with up to $700 million in US aid for the following 15 years in return for furnishing military facilities. Business and tourist arrivals numbered 63,000 in 2003. The population enjoys a per capita income roughly 50% higher than 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.
Exchange rates	the US dollar is used
Exports	$5,882,000.00		[55th of 189]
Exports to US	$1,500,000.00		[170th of 224]
GDP	$157,250,800.00		[168th of 203]
GDP (purchasing power parity)	$124,500,000.00		[14th of 187]
GDP > Composition by sector > Industry	12%		[138th of 146]
GDP > Real growth rate	5.5%		[78th of 198]
GDP growth > annual %	5.5 annual %		[64th of 187]
Gross National Income	$132,216,000.00		[167th of 172]
Inflation rate (consumer prices)	2.7%		[131st of 192]
International tourism, number of arrivals	86,000		[127th of 190]
International tourism, number of departures	9,000		[101st of 103]
Tourist arrivals	74,000		[124th of 152]
Tourist arrivals by region of origin > Europe	2,390		[171st of 195]
Trade balance with US	$2,900,000.00		[74th of 224]

Related links:

• Forum discussion > Economy
• Looking for Information on the U.S. Economy? Check out StateMaster
• Stay updated with current stat feeds! Subscribe to the Economy RSS / Atom feeds
•  Subscribe to our popular Economy factoids RSS / Atom feeds
• Save this page on  del.icio.us / furl / your bookmarks

More facts and figures on Palau