Overview: The country has few national resources. Phosphate deposits were exhausted at the time of independence in 1979. Copra and fish now represent the bulk of production and exports. The economy has fluctuated widely in recent years. Real GDP declined about 8% in 1987, as the fish catch fell sharply to only one-fourth the level of 1986 and copra production was hampered by repeated rains. Output rebounded strongly in 1988, with real GDP growing by 17%. The upturn in economic growth came from an increase in copra production and a good fish catch. Following the strong surge in output in 1988, GDP remained about the same in 1989.

GDP: $34 million, per capita $500; real growth rate 0% (1989)

Inflation rate (consumer prices): 3.1% (1988)

Unemployment rate: 2% (1985); considerable underemployment

Budget: revenues $22.0 million; expenditures $12.7 million, including capital expenditures of $9.7 million (1988)

Exports: $5.1 million (f.o.b., 1988); commodities--fish 55%, copra 42%; partners--EC 20%, Marshall Islands 12%, US 8%, American Samoa 4% (1985)

Imports: $21.5 million (c.i.f., 1988); commodities--foodstuffs, fuel, transportation equipment; partners--Australia 39%, Japan 21%, NZ 6%, UK 6%, US 3% (1985)

External debt: $2.0 million (December 1987 est.)

Industrial production: growth rate NA%

Electricity: 5,000 kW capacity; 13 million kWh produced, 190 kWh per capita (1989)

Industries: fishing, handicrafts

Agriculture: accounts for 30% of GDP (including fishing); copra and fish contribute 95% to exports; subsistence farming predominates; food crops--taro, breadfruit, sweet potatoes, vegetables; not self-sufficient in food

Aid: Western (non-US) countries, ODA and OOF bilateral commitments (1970-87), $245 million

Currency: Australian dollar (plural--dollars); 1 Australian dollar ($A) = 100 cents

Exchange rates: Australian dollars ($A) per US$1--1.2784 (January 1990), 1.2618 (1989), 1.2752 (1988), 1.4267 (1987), 1.4905 (1986), 1.4269 (1985)

Fiscal year: NA

NOTE: The information regarding Kiribati on this page is re-published from the 1990 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Kiribati Economy 1990 information contained here. All suggestions for corrections of any errors about Kiribati Economy 1990 should be addressed to the CIA.