Micronesia FlagMicronesia

Peace, Unity, Liberty

 

General


Population: 105,681 (2014), 106,104 (2013)
Land Area: 702 sq km
Natural Resources: Forests, marine products, deep-seabed minerals, phosphate
Capital: Palikir
Political System: Constitutional Government
State Leader: Manny Mori (May 11th 2007)
Languages: English, Chuukese, Kosrean, Pohnpeian, Yapese, Ulithian, Woleaian, Nukuoro, Kapingamarangi
Currency: US Dollar (USD)
Major Religions: Roman Catholic 50%, Protestant 47%, Other 3%
Major Ethnicities: Chuukese 48.8%, Pohnpeian 24.2%, Kosraean 6.2, Yapese 5.2%, Yap outer islands 4.5%, Asian 1.8%, Polynesian 1.5%, Other 6.4%, Unknown 1.4%
Life Expectancy: 72.35 years (2014), 72.07 years (2013)

Economy


GDP Official Exchange Rate: 339 million (2013), 310 million (2011)
GDP Purchasing Power Parity: 754 million (2013) , 749.1 million (2012)
GDP Per Capita (PPP): 7,300 (2013), 7,200 (2012)
GDP Growth Rate: 0.6% (2013), 2.1% (2012)
GDP Structure: Agriculture 14%, Industry 12%, Services 74% (2011)
Labour Force By Occupation: Agriculture 0.9%, Industry 20.6%, Services 78.5% (2011)
Industries: Tourism, construction, fish processing, specialized aquaculture, craft items
Agriculture Products: Black pepper, tropical fruits and vegetables, coconuts, bananas, cassava, sakau, betel nuts, sweet potatoes; pigs, chickens, fish
Human Development Index: 0.630 (124th)(2014), 0.645 (117th)(2013)
Tourism Revenue: 13 million (2001)
Unemployment Rate: 22% (2000)

MilitaryMicronesia Map


Army Size: Responsibility of the USA
Budget: Responsibility of the USA

Current Situation

 

Micronesia is located in the Pacific Ocean. Micronesia has no natural neighbors but is located near some other island-states. Micronesia depends largely on US aid for its government expenses, the growth rate is flat. But tourism remains a potential industry, that could be developed to the benefit of the economy.

(2014) Micronesia's economic growth slowed in 2013 and it remains to be seen what steps will be taken in order to increase economic growth and lower reliance on the United States for financial support.

Thoughts & Comments

 

Sources

CIA World Factbook: Micronesia
Wikipedia: Micronesia
http://hdrstats.undp.org/en/countries/profiles/FSM.html

Updated on: November 1st, 2014