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Country name:

conventional long form: Republic of the Marshall Islands
conventional short form: Marshall Islands
former: Marshall Islands District (Trust Territory of the Pacific Islands)

 

Capital:

Majuro. Population: 25,000 (UN estimate 2003).
 

 

Location:

Oceania, group of atolls and reefs in the North Pacific Ocean, about one-half of the way from Hawaii to Australia

 

Area:

181.4 sq km (70 sq miles).

map of Marshall Islands

Description:
The Marshall Islands consist of two almost parallel chains of atolls and islands, which lie west of the International Date Line. Majuro Atoll is 2,285km (1,428 miles) west of Honolulu, 1,624km (1,015 miles) east of Guam and 2,624km (1,641 miles) southeast of Tokyo. The eastern Ratak (Sunrise) Chain consists of 15 atolls and islands, and the western Ralik (Sunset) Chain consists of 16 atolls and islands. Together these two chains comprise 1,152 islands and islets dispersed over more than 1,900,000 sq km (500,000 sq miles) of the central Pacific.

 

Population:

61,815 ( 2007).
 

 

Languages:

English (widely spoken as a second language, both English and Marshallese are official languages), two major Marshallese dialects from the Malayo-Polynesian family, Japanese

 

Climate:
Tropical, with cooling sea breezes and frequent rain. Trade winds blow steadily from the northeast from December through to March. Wettest months are usually October to November. The average temperature is 27?�C (80?�F).

Economy - overview:
The economy suffers many of the problems faced by the small, remote island states of the Pacific. Aid subventions from the USA remain essential, while repeated and diverse attempts to broaden the base of the economy have met with mixed success. Agriculture is of a subsistence nature, with coconuts, tomatoes, melons and breadfruit as the main products.

The fishing industry is dominated by a commercial tuna operation. The islands' international shipping registry has been a key source of income. There were high hopes for tourism development, but plans have since been scaled down.

There is also an offshore financial services industry. However, in 2002 the Marshall Islands were one of seven countries ��?named and shamed' for their failure to tackle the issue of money-laundering.

Under the recent Amended Compact of Free Association, the USA will continue providing the islands with millions of dollars in aid annually until 2023, at which point aid will be replaced by annual payouts from a trust fund.

Growth was recorded as 3.5% in 2005, and inflation was at 3%. Unemployment is difficult to measure, but hovers around 30%.

The Marshall Islands is a member of the South Pacific Commission and the South Pacific Forum.

Economy:

The economy suffers many of the problems faced by the small, remote island states of the Pacific. Aid subventions from the USA remain essential, while repeated and diverse attempts to broaden the base of the economy have met with mixed success. Agriculture is of a subsistence nature, with coconuts, tomatoes, melons and breadfruit as the main products.

The fishing industry is dominated by a commercial tuna operation. The islands' international shipping registry has been a key source of income. There were high hopes for tourism development, but plans have since been scaled down.

There is also an offshore financial services industry. However, in 2002 the Marshall Islands were one of seven countries ��?named and shamed' for their failure to tackle the issue of money-laundering.

Under the recent Amended Compact of Free Association, the USA will continue providing the islands with millions of dollars in aid annually until 2023, at which point aid will be replaced by annual payouts from a trust fund.

Growth was recorded as 3.5% in 2005, and inflation was at 3%. Unemployment is difficult to measure, but hovers around 30%.

The Marshall Islands is a member of the South Pacific Commission and the South Pacific Forum.
 

Industries:

copra, fish, tourism, craft items from shell, wood, and pearls

 

Exports:
Copra cake, coconut oil, handicrafts and fish.

Imports:
Food, consumer goods, machinery and petroleum products.

Main trade partners: USA, Japan, Australia and New Zealand.

Exchange rates:
http://www.worldtravelguide.net/country/164/climate/Australia-and-South-Pacific/Marshall-Islands.html



GDP :
US$144 million (2005).
 

 

Useful links:

 

 

 

  • Trade Associations & Chamber of Commerce
 

 

 

 

 

  • Trade Fairs

 

 

 

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  Copyright By :  Kish Trade Promotion Center  2002