27, May 2012, CEST. Welcome to the Micronesia economic statistics pages provided by the beta version of EconomyWatch.com's Econ Stats database.
Economic Indicators For: Micronesia, Federated States of (Federated States of Micronesia) › Change country
National or Regional Currency: US Dollar, US$
Year of data: 2010 › Change year
Number of Indicators Listed:
Full Dataset: From Year 1980 to 2016
Date of Last Update: 1st August 2011
Population: 106,836 (July 2011 est.)
Area: total: 702 sq km
land: 702 sq km
water: 0 sq km (fresh water only)
note: includes Pohnpei (Ponape), Chuuk (Truk) Islands, Yap Islands, and Kosrae (Kosaie)
Natural Resources: timber, marine products, deep-seabed minerals, phosphate
Capital: name: Palikir
geographic coordinates: 6 55 N, 158 09 E
time difference: UTC+11 (16 hours ahead of Washington, DC during Standard Time)
Data Sources: IMF, World Bank, UN, OECD, CIA World Factbook, Internet World Statistics, The Heritage Foundation and Transparency International
The economy of Micronesia consists primarily of subsistence farming and fishing. The islands have few mineral deposits worth exploiting, except for high-grade phosphate. The potential for a tourist industry exists, but the remote location and lack of adequate facilities hinder development.
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