unbekannter Gast

Marshall Islands: Economy#

US assistance and lease payments for the use of Kwajalein Atoll as a US military base are the mainstay of this small island country. The Marshall Islands received roughly $1 billion in aid from the US during 1986-2001 under the original Compact of Free Association (Compact). In 2002 and 2003, the US and the Marshall Islands renegotiated the Compact's financial package for a 20-year period, from 2004 to 2024. Under the amended Compact, the Marshall Islands will receive roughly $1.5 billion in direct US assistance. Agricultural production, primarily subsistence, is concentrated on small farms; the most important commercial crops are coconuts and breadfruit. Industry is limited to handicrafts, tuna processing, and copra. Tourism holds some potential. The islands and atolls have few natural resources, and imports exceed exports. Under the amended Compact, the US is also funding, jointly with the Marshall Islands, a Trust Fund for the people of the Marshall Islands that will provide an income stream beyond 2024 when direct Compact aid is to end.

Economic Facts#

GDP (purchasing power parity)$486 million (2013 est.)
$475.4 million (2012 est.)
$467.2 million (2011 est.)
note: data are in 2013 US dollars
GDP - real growth rate2.3% (2013 est.)
1.9% (2012 est.)
0.8% (2011 est.)
GDP - per capita (PPP)$8,700 (2013 est.)
$8,700 (2012 est.)
$8,800 (2011 est.)
note: data are in 2013 US dollars
GDP - composition, by sector of originagriculture: 14.3%
industry: 13.9%
services: 71.8% (2011 est.)
Population below poverty lineNA%
Household income or consumption by percentage sharelowest 10%: NA%
highest 10%: NA%
Labor force - by occupationagriculture: 11%
industry: 16.3%
services: 72.7% (2011 est.)
Exports - commoditiescopra cake, coconut oil, handicrafts, fish
Agriculture - productscoconuts, tomatoes, melons, taro, breadfruit, fruits; pigs, chickens
Budgetrevenues: $105.4 million
expenditures: $104.7 million (FY09 est.)
Imports - commoditiesfoodstuffs, machinery and equipment, fuels, beverages, tobacco
Exchange ratesthe US dollar is used
Exports$50.14 million (2011 est.)
$9.1 million (2000 est.)
Debt - external$87 million (2008 est.)
$86.5 million (FY99/00 est.)
Fiscal year1 October - 30 September
Imports$118.7 million (2011 est.)
$54.7 million (2000 est.)
Industrial production growth rateNA%
Industriescopra, tuna processing, tourism, craft items (from seashells, wood, and pearls)
Inflation rate (consumer prices)12.9% (2008 est.)
3% (2005 est.)
Labor force10,480 (2011 est.)
Unemployment rate36% (2006 est.)
30.9% (2000 est.)
GDP (official exchange rate)$193 million (2013 est.)
Taxes and other revenues54.6% of GDP (FY09 est.)
Budget surplus (+) or deficit (-)0.4% of GDP (FY09 est.)