Region: Oceania-Micronesia

Capital: Tarawa

Population: 100,798 (July 2004 est.)

Surface area: 726 sq km

Currency: Australian dollar

GDP per capita: purchasing power parity - $800 (2001 est.)

Background:
The Gilbert Islands were granted self-rule by the UK in 1971 and complete independence in 1979 under the new name of Kiribati. The US relinquished all claims to the sparsely inhabited Phoenix and Line Island groups in a 1979 treaty of friendship with Kiribati.

Economy – Overview
A remote country of 33 scattered coral atolls, Kiribati has few natural resources. Commercially viable phosphate deposits were exhausted at the time of independence from the UK in 1979. Copra and fish now represent the bulk of production and exports. The economy has fluctuated widely in recent years. Economic development is constrained by a shortage of skilled workers, weak infrastructure, and remoteness from international markets. Tourism provides more than one-fifth of GDP. The financial sector is at an early stage of development as is the expansion of private sector initiatives. Foreign financial aid from UK, Japan, Australia, New Zealand, and China is a critical supplement to GDP, equal to 25%-50% of GDP in recent years. Remittances from workers abroad account for more than $5 million each year.

United Nations Membership Date: 14 September 1999