|
Nauru Economy is largely dependent on the mining of Phosphates.
Phosphate is the main exporting commodity of Nauru from which it earned $93 million in the year 1984. The commodities imported by Nauru are fuel, machinery, food, building materials and manufactures from which it earned $73 million in 1984.
The revenue of Nauru economy is also earned by selling fishing rights in the territorial water of Nauru.
In the year 2004 by exporting Phosphate Nauru earned US$640,000.
According to 2005 reports, per capita income in the economy of Nauru was $5,000. In the year 2004 GDP intensity of Nauru was US$1 million. Every year Nauru gets around US$20 million foreign assistance from Australia.
A significant event took place in the year 2004 that marks a turning point in the economic condition of Nauru. Nauru House was sold in Melbourne for repaying debts. This show that in the past several miscalculated investments was made in Nauru that led to loss.
For more information on Nauru economy log into the following sections:
|
