d to begin operations in the near future
Clipperton Island
Although 115 species of fish have been identified
in the territorial waters of Clipperton Island, the only economic
activity is tuna fishing.
Cocos (Keeling) Islands
Grown throughout the islands, coconuts are
the sole cash crop. Small local gardens and fishing contribute to
the food supply, but additional food and most other necessities must
be imported from Australia. There is a small tourist industry.
Colombia
Colombia's economy has been on a recovery trend during the
past two years despite a serious armed conflict. The economy
continues to improve thanks to austere government budgets, focused
efforts to reduce public debt levels, and an export-oriented growth
focus. Ongoing economic problems facing President URIBE range from
reforming the pension system to reducing high unemployment. New
exploration is needed to offset declining oil production. On the
positive side, several international financial institutions have
praised the economic reforms introduced by URIBE, which include
measures designed to reduce the public-sector deficit below 2.5% of
GDP. The government's economic policy and democratic security
strategy have engendered a growing sense of confidence in the
economy, particularly within the business sector. Coffee prices have
recovered from previous lows as the Colombian coffee industry
pursues greater market shares in developed countries such as the
United States.
Comoros
One of the world's poorest countries, Comoros is made up of
three islands that have inadequate transportation links, a young and
rapidly increasing population, and few natural resources. The low
educational level of the labor force contributes to a subsistence
level of economic activity, high unemployment, and a heavy
dependence on foreign grants and technical assistance. Agriculture,
including fishing, hunting, and forestry, contributes 40% to GDP,
employs 80% of the labor force, and provides most of the exports.
The country is not self-sufficient in food production; rice, the
main staple, accounts for the bulk of imports. The government -
which is hampered by internal political disputes - is struggling to
upgrade education and technical training, privatize commercial and
industrial enterprises, improve health services, diversify exports,
promote tourism, and reduce the high population growth rate
|