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Doing business & staying in touch

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.
The Airai View Hotel in Koror can provide facilities for up to 150 delegates (see Business Contacts below).

GDP: 

US$144.7 million (2005).

Main exports: 

Fish and handicrafts.

Main imports: 

Fuel, food and beverages, and manufactured goods.

Main trading partners: 

USA, Japan, Singapore and Korea (Rep).

Telephone: 

Phonecards are available and calls can be made from most hotels in Koror.

Internet: 

Access and reliability is improving but limited.

Post: 

Post office located in Koror.

Post office hours: 

Mon-Fri 0800-1600, Sat 0900 to 1000.

Press: 

• The main newspaper is Pacific Daily News (Guam).
• The local newspaper, which appears fortnightly, is Tia Belau.
• Palau Horizon newspaper appears weekly.

Television: 

• There are no television stations based in Palau, but most households receive US TV via cable and satellite.

Radio: 

• T8AA Eco Paradise is a government-run news and talk station.
• WWFM and KRFM are private stations.

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