Oceania > Marshall Islands > Economy

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Agriculture > products coconuts, tomatoes, melons, taro, breadfruit, fruits; pigs, chickens
Budget > Revenues	$42,000,000.00		[17th of 166]
Debt > External	$86,500,000.00		[119th of 136]
Economy > Overview US Government assistance is the mainstay of this tiny island economy. The Marshall Islands received more than $1 billion in aid from the US from 1986-2002. Agricultural production, primarily subsistence, is concentrated on small farms; the most important commercial crops are coconuts and breadfruit. Small-scale industry is limited to handicrafts, tuna processing, and copra. The tourist industry, now a small source of foreign exchange employing less than 10% of the labor force, remains the best hope for future added income. The islands have few natural resources, and imports far exceed exports. Under the terms of the Amended Compact of Free Association, the US will provide millions of dollars per year to the Marshall Islands (RMI) through 2023, at which time a Trust Fund made up of US and RMI contributions will begin perpetual annual payouts. Government downsizing, drought, a drop in construction, the decline in tourism, and less income from the renewal of fishing vessel licenses have held GDP growth to an average of 1% over the past decade.
Exchange rates the US dollar is the legal tender
Exports	$9,100,000.00		[11th of 189]
Exports to US	$15,500,000.00		[127th of 224]
GDP	$154,500,000.00		[169th of 203]
GDP (purchasing power parity)	$115,000,000.00		[6th of 187]
GDP > Composition by sector > Industry	14.9%		[30th of 146]
GDP > Real growth rate	3.5%		[125th of 198]
GDP growth > annual %	3.5 annual %		[109th of 187]
GDP per capita > constant LCU	1155.81
Gross National Income	$114,854,000.00		[168th of 172]
Imports	$54,700,000.00		[12th of 185]
Inflation rate (consumer prices)	3%		[117th of 192]
International tourism, number of arrivals	9,000		[147th of 190]
Tourist arrivals	6,000		[149th of 152]
Tourist arrivals by region of origin > Europe	160		[178th of 195]
Trade balance with US	-$8,500,000.00		[132nd of 224]

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