Country Profiles
Federated States of Micronesia W enzhou Fuzhou
Okino-tori -shima
Luzon Strait
DS
Wake Island The Federated States of Micronesia commercial fishing fleets pay over US$20 (FSM) is a group of 607 small islands million annually for the right to operate in Luzon in the Western Pacific subregion of the FSM territorial waters. Saipan sameManila name, about 6000 km southwest of Hagåtña AExports of marine products account M RSHA South China Hawai’i and just above the Equator. While GUAM for nearly 85% LL of export revenue. The Eniwetak Sea IS L the country’s total land area amounts to n e S e a presence of high-grade T A E T S S O D F E T AN phosphate in the i RA E Kwajalein D pp E i only 702 sq km, its Exclusive Economic EEZ is another potential revenue source. E S I N A l F O R i C I h M P Yap No Zone covers over 2.9 million sq km of the Sulu Sea Koror Pacific Ocean. Melekeok King Palikir Contact Majuro Carolin FSM is an independent country in a Pal e Isla nds Compact of Free Association withPALAU the Department of Economic Affairs United States, first signed in 1986, and KIRIBATI PO Box PS-12, Palikir, Pohnpei 96941 (Gilbert Tarawa relies heavily on US assistance. The value Islands) Howland Island Federated States of Micronesia Equator Tel: +691 320 2646 of imports is six times that of exports and Baker Island Yaren Banaba Fax: +691 320 5854 the tradeSULAWESI deficit was as high as 50% of the NAURU KIRIB Ce r a m S e a eland Wewak Rawak Email: invest@fsminvest.fm A TI New Ir GDP in 2004. Bismarck Sea ESIA (Phoen e www.fsminvest.fm l l U FSM’s current Mori Government was PAPUA NEW GUINEA vi Kepulauan VA Bougan Madang Aru frameworks. Around 15,000 tourists Banda Sea appointed after elections in March 2007. SOLOMON LU Lae New Britain currently visit the country each year. ISLANDS Kepulauan The tourism sector, particularly ecoSolomon Sea Tanimbar Funafuti Tokelau FSM’s EEZ straddles the migratory Honiara tourism and diving, are considered to EAST TIMOR Arafura Santa Cruz Sea Torres Guadalcanal Port Moresby tuna path and the fishing industry has been have good potential Timor but Sea the prevailing Islands Strait boosted by the construction of cold storage SAMOA tourism investment climate is weakened by Mata-Utu Rotuma Ashmore and Americ VAN Islands facilities and processing plants. Foreign Samoa poorCartier public infrastructure and regulatory
T
Co ral
(AUSTRALIA)
110,899 (2009)
aI
UA T
Coral Sea
NE W C ALE D
s
ds lan
Population:
Se
Capital: Palikir Surface Area:
702 sq km, EEZ 2.9 million sq km
U
Port Vila
ON IA
FIJI
Vanua Levu
Wallis and Futuna
Apia
Suva Data compiled with the Viti assistance of Pacific Levu Islands Trade & Invest (Sydney). Nuku’alofa Ceva-i-Ra
TONGA
Nouméa
Minerva Reef
People: Chuukese 48.8%, Pohnpeian 24.2%, Kosraean 6.2%, Yapese 5.2%, Yap outer islands AUSTRALIA 4.5%, Asian 1.8%, Polynesian 1.5%, other 6.4%, unknown 1.4% (2000 census) Time Zones: Palikir GMT +11 hours; Weno, Truk GMT +10 hours; Palikir GMT +11 hrs; Weno, Truk, Colonia, Yap GMT +10Norfolk hrs Island Lord Howe Island
Ta
sm independent democracy in association with the US an
Nominal GDP: US$235.9 million (2007) Inflation:
Sea
nd s
Isl a r Ke
m
Language: English Political Status:
500 Km
ad ec
0
New Zealand
2.9% (2009)
Currency: US dollar Major industrial sectors:
Fisheries, tourism, copra
Exports:
Fish, banana, copra, trochus shells/meat, kava and betel nut CHATHAM ISLANDS (N.Z.)
Major export markets: Japan, USA Imports: Food and live animals, mineral fuels, machines, transport and equipment, manufactured goods, textiles, beverages and tobacco Major import markets: USA, Australia, Japan WORLD BANK EASE OF DOING BUSINESS RANKING 2010:
127 of 183
54
Alofi
NIUE