ntial damage from storms. The government is working to improve
fiscal discipline, to support construction projects in the private
sector, to expand tourist facilities, to reduce crime, and to
protect the environment.
Wake Island
Economic activity is limited to providing services to
military personnel and contractors located on the island. All food
and manufactured goods must be imported.
Wallis and Futuna
The economy is limited to traditional subsistence
agriculture, with about 80% of labor force earnings from agriculture
(coconuts and vegetables), livestock (mostly pigs), and fishing.
About 4% of the population is employed in government. Revenues come
from French Government subsidies, licensing of fishing rights to
Japan and South Korea, import taxes, and remittances from expatriate
workers in New Caledonia.
West Bank
The West Bank - the larger of the two areas comprising the
Palestinian Authority (PA) - has experienced a general decline in
economic conditions since the second intifada began in September
2000. The downturn has been largely a result of Israeli closure
policies - the imposition of closures and access restrictions in
response to security concerns in Israel - which disrupted labor and
trading relationships. In 2001, and even more severely in 2002,
Israeli military measures in PA areas resulted in the destruction of
capital, the disruption of administrative structures, and widespread
business closures. International aid of at least $1.14 billion to
the West Bank and Gaza Strip in 2004 prevented the complete collapse
of the economy and allowed some reforms in the government's
financial operations. In 2005, high unemployment and limited trade
opportunities - due to continued closures both within the West Bank
and externally - stymied growth. Israel's and the international
community's financial embargo of the PA when HAMAS ran the PA during
March 2006 - June 2007 has interrupted the provision of PA social
services and the payment of PA salaries. Since June the Fayyad
government in the West Bank has restarted salary payments and the
provision of services but would be unable to operate absent high
levels of international assistance.
Western Sahara
Western Sahara depends on pastoral nomadism, fishing,
and phosphate mining as the principal sources of income for the
population. The territory lacks sufficient rainfall for sustainab
|