Description:
The Marshall Islands consist of two almost parallel chains of
atolls and islands, which lie west of the International Date Line.
Majuro Atoll is 2,285km (1,428 miles) west of Honolulu, 1,624km
(1,015 miles) east of Guam and 2,624km (1,641 miles) southeast of
Tokyo. The eastern Ratak (Sunrise) Chain consists of 15 atolls and
islands, and the western Ralik (Sunset) Chain consists of 16 atolls
and islands. Together these two chains comprise 1,152 islands and
islets dispersed over more than 1,900,000 sq km (500,000 sq miles)
of the central Pacific.
English (widely spoken as a second
language, both English and Marshallese are official languages), two
major Marshallese dialects from the Malayo-Polynesian family,
Japanese
Climate:
Tropical, with cooling sea breezes and frequent rain. Trade
winds blow steadily from the northeast from December through to
March. Wettest months are usually October to November. The average
temperature is 27?�C (80?�F).
Economy - overview:
The economy suffers many of the problems faced by the small,
remote island states of the Pacific. Aid subventions from the USA
remain essential, while repeated and diverse attempts to broaden the
base of the economy have met with mixed success. Agriculture is of a
subsistence nature, with coconuts, tomatoes, melons and breadfruit
as the main products.
The fishing industry is dominated by a commercial tuna operation.
The islands' international shipping registry has been a key source
of income. There were high hopes for tourism development, but plans
have since been scaled down.
There is also an offshore financial services industry. However, in
2002 the Marshall Islands were one of seven countries ��?named and
shamed' for their failure to tackle the issue of money-laundering.
Under the recent Amended Compact of Free Association, the USA will
continue providing the islands with millions of dollars in aid
annually until 2023, at which point aid will be replaced by annual
payouts from a trust fund.
Growth was recorded as 3.5% in 2005, and inflation was at 3%.
Unemployment is difficult to measure, but hovers around 30%.
The Marshall Islands is a member of the South Pacific Commission and
the South Pacific Forum.
Economy:
The economy suffers many of the problems faced by the small, remote
island states of the Pacific. Aid subventions from the USA remain
essential, while repeated and diverse attempts to broaden the base
of the economy have met with mixed success. Agriculture is of a
subsistence nature, with coconuts, tomatoes, melons and breadfruit
as the main products.
The fishing industry is dominated by a commercial tuna operation.
The islands' international shipping registry has been a key source
of income. There were high hopes for tourism development, but plans
have since been scaled down.
There is also an offshore financial services industry. However, in
2002 the Marshall Islands were one of seven countries ��?named and
shamed' for their failure to tackle the issue of money-laundering.
Under the recent Amended Compact of Free Association, the USA will
continue providing the islands with millions of dollars in aid
annually until 2023, at which point aid will be replaced by annual
payouts from a trust fund.
Growth was recorded as 3.5% in 2005, and inflation was at 3%.
Unemployment is difficult to measure, but hovers around 30%.
The Marshall Islands is a member of the South Pacific Commission and
the South Pacific Forum.
copra, fish, tourism, craft items from
shell, wood, and pearls
Exports:
Copra cake, coconut oil, handicrafts and fish.
Imports:
Food, consumer goods, machinery and petroleum products.
Main trade partners: USA, Japan, Australia and New Zealand.
Exchange rates:
http://www.worldtravelguide.net/country/164/climate/Australia-and-South-Pacific/Marshall-Islands.html
GDP :
US$144 million (2005).
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