t; Court of Common Pleas; Land Court

Political parties and leaders:

none

Political pressure groups and leaders:

NA

International organization participation:

ACP, ADB, FAO, IAEA, IBRD, ICAO, ICRM, IDA, IFC, IFRCS, IMF, IOC,
IPU, MIGA, OPCW, PIF, Sparteca, SPC, UN, UNCTAD, UNESCO, WHO

Diplomatic representation in the US:

chief of mission: Ambassador Hersey KYOTA
chancery: 1700 Pennsylvania Avenue NW, Suite 400, Washington, DC
20006
telephone: [1] (202) 452-6814
FAX: [1] (202) 452-6281
consulate(s) general: Honolulu
consulate(s): Tamuning (Guam)

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):

$145 million (2005)

GDP - real growth rate:

5.5% (2005 est.)

GDP - per capita (PPP):

$7,600 (2005 est.)

GDP - composition by sector:

agriculture: 6.2%
industry: 12%
services: 81.8% (2003)

Labor force:

9,777 (2005)

Labor force - by occupation:

agriculture: 20%
industry: NA%
services: NA%

Unemployment rate:

4.2% (2005 est.)

Population below poverty line:

NA%

Household income or consumption by percentage share:

lowest 10%: NA%
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