The entire population of the island nation of Kiribati could soon be forced to relocate to a 5,000-acre plot of land in Fiji, said Kiribati President Anote Tong on Wednesday, as rising levels threaten to swallow the entire country beneath the Pacific Ocean.
Kiribati has suffered from a balance of payment deficit over the years.
Major exportable commodities of the country are fish, seaweed and copra. Its partners are Japan, US and Thailand.Important importable commodities are machines, fuel and manufactured goods.
Imports partners are Fiji, Japan, France and Australia.
The following table shows the country’s trade scenario that is the total exports and imports as the percentage of total GDP over the years.
Among various sectors of the economy, the industries have the largest contribution to the total GDP.
According to the given statistics, the average annual growth of industrial sector between 1994-04 was 17.9.
Fishing and handicrafts are the major industries of the country. Important agricultural products in the country are sweet potatoes, vegetables, fish, copra and breadfruit.
The following table shows the average annual growth rate of various sectors over the years:
Kiribati is a Lower Middle Income Country comes under East Asia and Pacific region, according to the classification made by the World Bank on the basis of income and region for year 2006.
The country has a total surface area of 730.0 square kilometers in 2004 with a total forest area of 20.0 square kilometers in 2000.
Social Indicators:
Demographic and Social Indicators of the Kiribati Economy is as follows
Kiribati is a lower middle-income economies coming under the East Asia and Pacific region as to the classification made by the World Bank on the basis of income and region for the year 2006.
Agriculture plays an important role in the country’s economy. Services constitute the largest share in the total Gross Domestic Product. Agricultural activities and fishing are the main occupations of the peoples in the country.
Major agricultural products in the country are vegetables, sweet potatoes, copra and fish. Important industries are handicrafts and fishing.
