Palau/

The economy consists primarily of tourism, subsistence agriculture, and fishing. The government is the major employer of the work force relying heavily on financial assistance from the US. The Compact of Free Association with the US, entered into after the end of the UN trusteeship on 1 October 1994, provided Palau with up to $700 million in US aid for the following 15 years in return for furnishing military facilities. Business and tourist arrivals numbered 85,000 in 2007. The population enjoys a per capita income roughly 50% higher than that of the Philippines and much of Micronesia. Long-run prospects for the key tourist sector have been greatly bolstered by the expansion of air travel in the Pacific, the rising prosperity of leading East Asian countries, and the willingness of foreigners to finance infrastructure development.

$164 million (2008 est.)

$124.5 million (2004 est.)

GDP estimate includes US subsidy

$164 million (2008)

NA% (2009)

5.5% (2005 est.)

$8,100 (2008 est.)

$7,600 (2005 est.)

9,777 (2005)

4.2% (2005 est.)

NA%

2.7% (2005 est.)

$NA

coconuts, copra, cassava (tapioca), sweet potatoes; fish

tourism, craft items (from shell, wood, pearls), construction, garment making

NA%

$15.09 million (FY03/04)

$5.882 million (2004 est.)

shellfish, tuna, copra, garments

$107.3 million (2004 est.)

machinery and equipment, fuels, metals; foodstuffs

$0 (FY99/00)

the US dollar is used