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Palau

Location : Oceania, group of islands in the North Pacific Ocean, southeast of the Philippines

Capital : Koror

Languages : Palauan 64.7% official in all islands except Sonsoral (Sonsoralese and English are official), Tobi (Tobi and English are official), and Angaur (Angaur, Japanese, and English are official), Filipino 13.5%, English 9.4%, Chinese 5.7%, Carolinian 1.5%, Japanese 1.5%, other Asian 2.3%, other languages 1.5% (2000 census) 

Area : 458 sq km

Land Use: arable land: 8.7%; permanent crops: 4.35%; other: 86.95% (2001)

Natural Resources : forests, minerals (especially gold), marine products, deep-seabed minerals

Population : 20,303 (July 2005 est.)

Labour force : 9,845 (2000) 

Labour force participation rate : 48.49% of population (2000)

International Organisation participation : ACP, AsDB, FAO, G-77, IBRD, ICAO, ICRM, IDA, IFC, IFRCS, IMF, IOC, MIGA, OPCW, PIF, UN, UNCTAD, UNESCO, WHO

GDP per capita : U$9,000 (2001 est.)

GDP Real Growth Rate : 1% (2001 est.)

Industries: tourism, craft items (from shell, wood, pearls), construction, garment making 

Agriculture - products : coconuts, copra, cassava (tapioca), sweet potatoes

Exports : U$18 million f.o.b. (2001 est.)

Exports - commodities : shellfish, tuna, copra, garments

Exports - partners : US, Japan, Singapore (2000) 

Imports : U $99 million f.o.b. (2001 est.)

Imports - commodities : machinery and equipment, fuels, metals; foodstuffs

Imports - partners : US, Guam, Japan, Singapore, South Korea (2000)

QUALITATIVE TRADE PROFILE  

Palau has a services economy with over 81% of GDP being derived from services. The most important element of Palau's trade program is its Compact of Free Association with the United States.

TRADE AGREEMENTS

Bilateral

Palau has signed a Compact of Free Association with the United States

Regional

Palau is a member of the Pacific Islands Forum. It also has duty-free access to the Australian and New Zealand markets under the South Pacific Agreement on Regional Trade and Economic Co-operation (SPARTECA). Palau has signed the Cotonou Agreement and is thus currently negotiating an Economic Partnership Agreement with the EU through the Pacific configuration.

Multilateral

Palau is neither a member nor observer of the WTO.

 

Source: UNCTAD, World Fact Book