Economy overview: The 33 coral atolls that make up the state do not have any significant resources. The commercially important phosphate reserves were depleted by the time of independence. Now the basis of production and export are fish and copra. In recent years, the economy has been subject to significant fluctuations. Economic development is hampered by a lack of skilled labor, underdeveloped infrastructure and remoteness from world markets. Tourism provides one-fifth of GDP, the financial sector is in its infancy, as is private enterprise. Foreign financial assistance (mainly from Great Britain and Japan) is the most important support, amounting to 25 to 50% of GDP in recent years. Remittances from workers abroad amount to more than $5 million a year. Growth in 2000 was 2.5% lower than in 1999, when it was boosted by growth in copra production and exceptionally strong revenues from the sale of fishing licenses. GDP: at purchasing power parity – $76 million (2000 est.). See cheeroutdoor.com to know more about Kiribati Business.
Real GDP growth rate: 1% (2000 est.).
GDP per capita: at purchasing power parity – $850 (2000 est.).
The composition of GDP by sectors of the economy: agriculture: 14%; industry: 7%; services: 79% (1996 est.).
Proportion of the population below the poverty line: no data available.
Percentage distribution of household income or consumption: for the poorest 10% of households: n/a; by top 10% of households: no data.
Inflation rate at consumer prices: 2% (1999 est.).
Labor force: 7,870 economically active, excluding subsistence farmers (1985 est.).
Unemployment rate: 2%; part-time 70% (1992 est.).
Budget: revenues: $33.3 million; expenditures: $47.7 million, including capital expenditures – NA (1996 est.).
Spheres of economy: fishing, handicraft production.
Growth in industrial production: 0.7% (1992 est.).
Electricity generation: 7 million kWh (1999).
Sources of electricity generation: fossil fuels: 100%; hydropower: 0%; nuclear fuel: 0%; others: 0% (1999).
Electricity consumption: 6.5 million kWh (1999).
Electricity export: 0 kWh (1999).
Electricity import: 0 kWh (1999).
Agricultural products: copra, taro, breadfruit, sweet potato, vegetables; fish.
Export: $6 million (free on board, 1998)
Exports: copra 62%, coconuts, seafood, fish.
Export partners: Bangladesh, USA, Australia, Hong Kong (1999).
Import: $44 million (S.I.F., 1999).
Imports: foodstuffs, machinery and equipment, various manufactured goods, fuels.
Import partners: Australia, Fiji, Japan, New Zealand, China (1999).
External debt: $10 million (1999 est.) Economic aid recipient: $15.5 million (1995), mostly from the UK and Japan.
Economic aid donor:
Currency: Australian dollar.
Currency code: AUD.
Exchange rate: AUD / USD – 1.7995 (January 2001), 1.7173 (2000), 1.5497 (1999), 1.5888 (1998), 1.3439 (1997), 1.2773 (1996).
Fiscal year: no data.
Telecommunications Telephone lines: 2000 (1997).
Mobile cellular phones: no data available.
Telephone system: internal: no data; international: satellite earth station 1 Intelsat (Pacific); note: the country is included in The Pacific Ocean Cooperative Telecommunications Network, which provides telephone services.
Broadcast stations: AM – 1, FM – 1, shortwave – 1 (1998).
Radio receivers: 17,000 (1997).
Television broadcast stations: 1 (1997)
Televisions: 1,000 (1997).
Internet country code: ki
Internet service providers: 1 (2000).
Number of users: 1,000 (2000).
Transport Railways: 0 km.
Roads: total: 670 km (1996 est.). coated: no data; uncoated: no data;
Waterways: A small network of canals, with a total length of 5 km, on the Line Islands.
Ports and harbors: Banaba, Betio, English Harbor, Canton.
Merchant fleet: total: 1 ship (displacement 1,000 tons or more) with a total displacement of 1,291 gross register tons / 1,295 long tons of gross tonnage; ships of different types: cargo-passenger ships -1 (2000 est.).
Airports: 21 (2000 est.).
Airports with paved runways: total: 4; 1524 to 2437 m: 4 (2000 est.).
Airports with unpaved runways: total: 17; from 914 to 1523 m:12; less than 914 m: 5 (2000 est.).
Arms of the Armed Forces: no regular armed forces; police (performs law enforcement functions and partly the duties of the armed forces; small police posts on all islands).