Flag description: blue with a narrow, horizontal, yellow stripe
across the center and a large white 12-pointed star below the stripe
on the hoist side; the star indicates the country's location in
relation to the Equator (the yellow stripe) and the 12 points
symbolize the 12 original tribes of Nauru

Economy

Economy--overview: Revenues come from exports of phosphates, but
reserves are expected to be exhausted by the year 2000. Phosphates
have given Nauruans one of the highest per capita incomes in the
Third World. Few other resources exist, thus most necessities must
be imported, including fresh water from Australia. The
rehabilitation of mined land and the replacement of income from
phosphates are serious long-term problems. Substantial amounts of
phosphate income are invested in trust funds to help cushion the
transition. The government also has been borrowing heavily from the
trusts to finance fiscal deficits. To cut costs the government has
called a freezing of wages, a reduction of over-staffed public
service departments, privatization of numerous government agencies,
and closure of some overseas consulates.

GDP: purchasing power parity--$100 million (1993 est.)

GDP--real growth rate: NA%

GDP--per capita: purchasing power parity?$10,000 (1993 est.)

GDP--composition by sector:
agriculture: NA%
industry: NA%
services: NA%

Population below poverty line: NA%

Household income or consumption by percentage share:
lowest 10%: NA%
highest 10%: NA%

Inflation rate (consumer prices): -3.6% (1993)

Labor force--by occupation: employed in mining phosphates, public
administration, education, and transportation

Unemployment rate: 0%

Budget:
revenues: $23.4 million
expenditures: $64.8 million, including capital expenditures of $NA
(FY95/96)

Industries: phosphate mining, financial services, coconut products

Industrial production growth rate: NA%

Electricity--production: 32 million kWh (1996)

Electricity--production by source:
fossil fuel: 100%
hydro: 0%
nuclear: 0%
other: 0% (1996)

Electricity--consumption: 32 million kWh (1996)

Electricity--exports: 0 kWh (1996)

Electricity--imports: 0 kWh (1996)

Agriculture--products: coconuts

Exports: $25.3 million (f.o.b., 1991)

Exports--commodities: phosphates

Exports--partners: Australia, NZ

Imports: $21.1 million (c.i.f., 1991)

Imports--commodities: food, fuel