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Economy Of Nauru
The economy of Nauru is tiny, based on a population in 2019 of only 11,550 people. The economy has historically been based on phosphate mining. With primary phosphate reserves exhausted by the end of the 2010s, Nauru has sought to diversify its sources of income. In 2020, Nauru's main sources of income were the sale of fishing rights in Nauru's territorial waters, and revenue from the Regional Processing Centre (an offshore Australian immigration detention facility). Nauru is dependent on foreign aid, chiefly from Australia, Taiwan and New Zealand. Economic performance In the years after independence in 1968, Nauru possessed the highest GDP per capita in the world due to its rich phosphate deposits. In anticipation of the exhaustion of its phosphate deposits, substantial amounts of the income from phosphates were invested in trust funds aimed to help cushion the transition and provide for Nauru's economic future. However, because of heavy spending from the trust funds, inc ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Nauru
Nauru ( or ; na, Naoero), officially the Republic of Nauru ( na, Repubrikin Naoero) and formerly known as Pleasant Island, is an island country and microstate in Oceania, in the Central Pacific. Its nearest neighbour is Banaba Island in Kiribati, about to the east. It further lies northwest of Tuvalu, northeast of Solomon Islands, east-northeast of Papua New Guinea, southeast of the Federated States of Micronesia and south of the Marshall Islands. With only a area, Nauru is the third-smallest country in the world behind Vatican City and Monaco, making it the smallest republic as well as the smallest island nation. Its population of about 10,000 is the world's second-smallest (not including colonies or overseas territories), after Vatican City. Settled by people from Micronesia circa 1000 BCE, Nauru was annexed and claimed as a colony by the German Empire in the late 19th century. After World War I, Nauru became a League of Nations mandate administere ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
