!!!Nauru: Economy
Revenues of this tiny island - a coral atoll with a land area of 21 square kilometers - traditionally have come from exports of phosphates. Few other resources exist, with most necessities being imported, mainly from Australia, its former occupier and later major source of support. Primary reserves of phosphates were exhausted and mining ceased in 2006, but mining of a deeper layer of "secondary phosphate" in the interior of the island began the following year. The secondary phosphate deposits may last another 30 years. Earnings from Nauru’s export of phosphate remains an important source of income. Few comprehensive statistics on the Nauru economy exist; estimates of Nauru's GDP vary widely. \\  \\ The rehabilitation of mined land and the replacement of income from phosphates are serious long-term problems. In anticipation of the exhaustion of Nauru's phosphate deposits, substantial amounts of phosphate income were invested in trust funds to help cushion the transition and provide for Nauru's economic future. \\  \\ Although revenue sources for government are limited, the opening of the Australian Regional Processing Center for asylum seekers since 2012 has sparked growth in the economy. Revenue derived from fishing licenses under the "vessel day scheme" has also boosted government income. Housing, hospitals, and other capital plant are deteriorating. The cost to Australia of keeping the government and economy afloat continues to climb.
!!Economic Facts
||GDP (purchasing power parity)|$150.8 million (2015 est.) \\ $139.7 million (2014 est.) \\ $127 million (2013 est.)
||GDP (official exchange rate)|$150.8 million (2015 est.)
||GDP - real growth rate|8% (2015 est.) \\ 10% (2014 est.) \\ 4.5% (2013 est.)
||GDP - per capita (PPP)|$14,800 (2015 est.) \\ $13,700 (2014 est.) \\ $12,500 (2013 est.) \\ ''__note__'': data are in 2015 US dollars \\ 
||GDP - composition, by sector of origin|''agriculture'': 6.1% \\ ''industry'': 33% \\ ''services'': 60.8% (2009 est.) \\ 
||Agriculture - products|coconuts
||Industries|phosphate mining, offshore banking, coconut products
||Industrial production growth rate|NA%
||Labor force|NA
||Labor force - by occupation| \\ ''__note__'': most of the labor force is employed in phosphate mining, public administration, education, and transportation \\ 
||Unemployment rate|23% (2011 est.) \\ 90% (2004 est.)
||Population below poverty line|NA%
||Household income or consumption by percentage share|''lowest 10%'': NA% \\ ''highest 10%'': NA% \\ 
||Budget|''revenues'': $57.8 million \\ ''expenditures'': $51.8 million (2010 est.) \\ 
||Fiscal year|1 July - 30 June
||Inflation rate (consumer prices)|8% (2015 est.) \\ 5% (2015 est.)
||Exports|$125 million (2013 est.) \\ $110.3 million (2012 est.)
||Exports - commodities|phosphates
||Imports|$143.1 million (2013 est.) \\ $41.2 million (2012 est.)
||Imports - commodities|food, fuel, manufactures, building materials, machinery
||Debt - external|$33.3 million (2004 est.)
||Exchange rates|Australian dollars (AUD) per US dollar - \\ 1.352 (2016 est.) \\ 1.3291 (2015 est.) \\ 1.3291 (2014 est.) \\ 1.0358 (2013 est.) \\ 0.97 (2012 est.)