Economy—overview: Economic activity consists primarily of subsistence farming and fishing. The islands have few mineral deposits worth exploiting, except for high-grade phosphate. The potential for a tourist industry exists, but the remoteness of the location and a lack of adequate facilities hinder development. Financial assistance from the US is the primary source of revenue, with the US pledged to spend $1 billion in the islands in the 1990s. Geographical isolation and a poorly developed infrastructure are major impediments to long-term growth.
GDP: purchasing power parity—$220 million (1996 est.) note: GDP is supplemented by grant aid, averaging perhaps $100 million annually
GDP—real growth rate: 1% (1996 est.)
GDP—per capita: purchasing power parity?$1,760 (1996 est.)
GDP—composition by sector: agriculture: NA% industry: NA% services: NA%
Population below poverty line: NA%
Household income or consumption by percentage share:
lowest 10%: NA%
highest 10%: NA%
Inflation rate (consumer prices): 4% (1996 est.)
Labor force: NA
Labor force—by occupation: two-thirds are government employees