ht industry sector caters to the local market.
Tax revenues come mainly from import duties. Economic development is
hindered by dependence on relatively few commodity exports,
vulnerability to natural disasters, and long distances from main
markets and between constituent islands. GDP growth rose less than
3% on average in the 1990s. In response to foreign concerns, the
government has promised to tighten regulation of its offshore
financial center. In mid-2002 the government stepped up efforts to
boost tourism. Agriculture, especially livestock farming, is a
second target for growth. Australia and New Zealand are the main
suppliers of tourists and foreign aid.

Venezuela
Venezuela continues to be highly dependent on the
petroleum sector, accounting for roughly one-third of GDP, around
80% of export earnings, and over half of government operating
revenues. A disastrous two-month national oil strike from December
2002 to February 2003, temporarily halted economic activity. The
economy remained in depression in 2003, declining by 9.2% after an
8.9% fall in 2002. Despite continued domestic instability, output
recovered strongly in 2004, aided by high oil prices. Both inflation
and unemployment remain fundamental problems.

Vietnam
Vietnam is a densely-populated, developing country that in
the last 30 years has had to recover from the ravages of war, the
loss of financial support from the old Soviet Bloc, and the
rigidities of a centrally planned economy. Substantial progress was
achieved from 1986 to 1997 in moving forward from an extremely low
level of development and significantly reducing poverty. Growth
averaged around 9% per year from 1993 to 1997. The 1997 Asian
financial crisis highlighted the problems in the Vietnamese economy
and temporarily allowed opponents of reform to slow progress towards
a market oriented economy. GDP growth of 8.5% in 1997 fell to 6% in
1998 and 5% in 1999. Growth then rose to 7% in 2000-04 even against
the background of global recession. Since 2001, however, Vietnamese
authorities have reaffirmed their commitment to economic
liberalization and international integration. They have moved to
implement the structural reforms needed to modernize the economy and
to produce more competitive, export-driven industries. However,
equitization of state-owned enterprises and reduction in the
proportion of non-performing loans