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• GDP: US$144.7 million (2005).
• Main exports: Fish and handicrafts.
• Main imports: Fuel, food and beverages, and manufactured goods.
• Main trade partners: USA, Japan, Singapore and Korea (Rep).
• Main exports: Fish and handicrafts.
• Main imports: Fuel, food and beverages, and manufactured goods.
• Main trade partners: USA, Japan, Singapore and Korea (Rep).
Economy
Subsistence agriculture is a vital employer, with cassava, coconuts, bananas and sweet potatoes as the main crops. Fishing is valuable mainly through the sale of licences to large foreign fleets. Industry is limited to small-scale light manufacturing, such as food-processing and boat-building.
Foreign aid, mainly from the USA, completes the country’s principal sources of revenue. Tourism has grown steadily during the last decade despite the islands’ inaccessibility. In 2005, growth was at 5.5%, unemployment at 4.2% and inflation at 2.7%.
Palau is a member of the two main regional economic organisations, the South Pacific Forum and the South Pacific Commission.
Foreign aid, mainly from the USA, completes the country’s principal sources of revenue. Tourism has grown steadily during the last decade despite the islands’ inaccessibility. In 2005, growth was at 5.5%, unemployment at 4.2% and inflation at 2.7%.
Palau is a member of the two main regional economic organisations, the South Pacific Forum and the South Pacific Commission.
Conferences & Conventions
The Airai View Hotel in Koror can provide facilities for up to 150 delegates (see Business Contacts below).
Business Contacts
Palau Chamber of Commerce
PO Box 1742, Koror, Palau 96940
Tel: 488 3400.
Website: www.palauchamber.org.
Airai View Hotel (Information on Conferences/Conventions)
PO Box 8067, Koror, Palau 96940
Tel: 587 3530/1.
Website: www.airaiview.com
PO Box 1742, Koror, Palau 96940
Tel: 488 3400.
Website: www.palauchamber.org.
Airai View Hotel (Information on Conferences/Conventions)
PO Box 8067, Koror, Palau 96940
Tel: 587 3530/1.
Website: www.airaiview.com