Diplomatic representation from the US:
chief of mission: Charge d'Affaires Mark BEZNER embassy: Koror (no street address) mailing address: P. O. Box 6028, Republic of Palau 96940 telephone: [680] 488-2920, 2990 FAX: [680] 488-2911
Flag description:
light blue with a large yellow disk (representing the moon) shifted slightly to the hoist side
Economy
Palau
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.
GDP (purchasing power parity):
$124.5 million note: GDP estimates includes US subsidy (2004 est.)
GDP (official exchange rate):