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Country name:

conventional long form: Republic of Nauru
conventional short form: Nauru
former: Pleasant Island

 

Capital:

There is no capital. Government offices are in Yaren district. Population: 672 (1992).
 

Location:

Oceania, island in the South Pacific Ocean, south of the Marshall Islands

 

Area:

21.3 sq km (8.2 sq miles).
 

map of nauru

 

Description:
Nauru, the world’s smallest republic, is an oval-shaped outcrop, situated in the Central Pacific, west of Kiribati, surrounded by a reef which is exposed at low tide. Although there is no deep-water harbour on the island, offshore moorings are reputedly the deepest in the world. A century of phosphate mining has stripped four-fifths of the land area, and has left the central plateau, which rises to 56m (213ft), infertile and unpopulated: a barren terrain of jagged coral pinnacles which stand 15m (49ft) high. The island has a fertile coastal strip 150 to 300m (492 to 984ft) wide, where there are coconut palms, pandanus trees and indigenous hardwoods such as the tomano. On the land surrounding Buada lagoon, bananas, pineapples and some vegetables are grown. Some secondary vegetation grows over the coral pinnacles which intersperse the island’s beaches.

Population:

10,131 (2006 estimate).
 

 

Languages:

Nauruan (official, a distinct Pacific Island language), English widely understood, spoken, and used for most government and commercial purposes

 

Economy - overview:

In the late 1980s, Nauru had one of the highest GDPs per capita in the world, thanks to an abundance of phosphate. However, with the depletion of this natural resource, the island's economy has rapidly deteriorated. In an attempt to boost its economy, Nauru turned to offshore financial services, but was named and shamed by the OECD (Organisation for Economic Co-operation and Development) in 2002 because of the laxity of its tax and financial disclosure arrangements. Since then, Nauru has brought its banking legislation in line with international requirements. It has also found an alternative source of income by agreeing to accept Australia-bound asylum seekers while their applications are processed in exchange for financial aid. Other revenue sources include the sale of fishing licences and tourism, but these are both limited and Nauru's economy remains on shaky ground.

Economy:

In the late 1980s, Nauru had one of the highest GDPs per capita in the world, thanks to an abundance of phosphate. However, with the depletion of this natural resource, the island's economy has rapidly deteriorated. In an attempt to boost its economy, Nauru turned to offshore financial services, but was named and shamed by the OECD (Organisation for Economic Co-operation and Development) in 2002 because of the laxity of its tax and financial disclosure arrangements. Since then, Nauru has brought its banking legislation in line with international requirements. It has also found an alternative source of income by agreeing to accept Australia-bound asylum seekers while their applications are processed in exchange for financial aid. Other revenue sources include the sale of fishing licences and tourism, but these are both limited and Nauru's economy remains on shaky ground.
 

 

Industries:

phosphate mining, offshore banking, coconut products

 

Exports:
Phosphates

Imports:
Food, fuel and manufactured goods.
• Main trade partners: Australia and New Zealand.

Exchange rates:
The Australian Dollar (AUD; symbol A$) is legal tender. For further information, see the Australia section.
http://www.worldtravelguide.net/country/184/business/Australia-and-South-Pacific/Nauru.html


GDP :
US$25.2 million (2005/6).

 

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  Copyright By :  Kish Trade Promotion Center  2002