Economic Overview
Revenues of this tiny island have traditionally come from exports of phosphates, now significantly depleted. an australian company in 2005 entered into an agreement intended to exploit remaining supplies. few other resources exist with most necessities being imported, mainly from australia, its former occupier and later major source of support. the rehabilitation of mined land and the replacement of income from phosphates are serious long-term problems. in anticipation of the exhaustion of nauru's phosphate deposits, substantial amounts of phosphate income were invested in trust funds to help cushion the transition and provide for nauru's economic future. as a result of heavy spending from the trust funds, the government faces virtual bankruptcy. to cut costs the government has frozen wages and reduced overstaffed public service departments. in 2005, the deterioration in housing, hospitals, and other capital plant continued, and the cost to australia of keeping the government and economy afloat continued to climb. few comprehensive statistics on the nauru economy exist, with estimates of nauru's gdp varying widely.
Environmental Issues
Limited natural fresh water resources, roof storage tanks collect rainwater, but mostly dependent on a single, aging desalination plant; intensive phosphate mining during the past 90 years - mainly by a uk, australia, and nz consortium - has left the central 90% of nauru a wasteland and threatens limited remaining land resources
Government Type
Republic
Population
13,770 (july 2008 est.)
Location
Oceania, island in the south pacific ocean, south of the marshall islands
Area
Total: 21 sq km
land: 21 sq km
water: 0 sq km
About 0.1 times the size of washington, dc
Country Aliases
Conventional long form: republic of nauru
conventional short form: nauru
local long form: republic of nauru
local short form: nauru
former: pleasant island
Capital
No official capital; government offices in yaren district
time difference: utc+12 (17 hours ahead of washington, dc during standard time)
International Disputes
None
Sources: Central Intelligence Agency (CIA)
