Economy of Nauru
Nauru is considered to be a developing nation. The developmental stage of a nation is determined by a number of factors including, but not limited to, economic prosperity, life expectancy, income equality, and quality of life. As a developing nation, Nauru may not be able to offer consistent social services to its citizens. These social services may include things like public education, reliable healthcare, and law enforcement. Citizens of developing nations may have lower life expectancies than citizens of developed nations. Each year, Nauru exports around $0.057 billion and imports roughly $0.126 billion. 22.9% of population in the country are unemployed. The total number of unemployed people in Nauru is 2,590. In Nauru, 0% of the population lives below the poverty line. The percentage of citizens living below the poverty line in Nauru is low, indicating that it has a stable economy. Investors should consider Nauru to be a safe location for investments and other financial ventures. The Gini Index of the country is 67. Nauru is experiencing bad inequality. The gap between the richest and poorest citizens in this country is plainly obvious and highly significant, resulting in a dramatically different standard of living for rich and poor citizens.
The currency of Nauru is Nauruan dollar. The plural form of the word Nauruan dollar is dollars. The symbol used for this currency is $, and it is abbreviated as AUD. The Nauruan dollar is divided into Cent; there are 100 in one dollar.
Credit rating is the extent to which international investors trust a country in paying debts and upholding the country's obligations in terms of crediting. There is no information on the credit rating of Nauru.
Nauru has a government debt of 34.4% of the country's Gross Domestic Product (GDP), as assessed in 2012.
The corporate tax in Nauru is set at 30%. VAT in Nauru is 0%.
The total Gross Domestic Product (GDP) assessed as Purchasing Power Parity (PPP) in Nauru is $0.06 billion. The Gross Domestic Product (GDP) assessed as Purchasing Power Parity (PPP) per capita in Nauru was last recorded at $0 million. PPP in Nauru is considered to be below average when compared to other countries. Below average PPP indicates that citizens in this country find it difficult to purchase local goods. Local goods can include food, shelter, clothing, health care, personal care, essential furnishings, transportation and communication, laundry, and various types of insurance. Countries with below average PPP are dangerous locations for investments. The total Gross Domestic Product (GDP) in Nauru is 0 billion. Based on this statistic, Nauru is considered to have a small economy. Countries with small economies generally support less industries and opportunities for investment. However, worthwhile investment opportunities may be found. The Gross Domestic Product (GDP) per capita in Nauru was last recorded at $0 million. The average citizen in Nauru has very low wealth. Countries with very low wealth per capita often have lower life expectancies and dramatically lower quality of living among citizens. It can be very difficult to find highly skilled workers in countries with very low wealth, as it is difficult for citizens to obtain the requisite education needed for specialized industries. However, labor can be found for very low rates when compared with countries with higher wealth per capita. GDP Annual Growth Rate in Nauru averaged 0% in 2014. According to this percentage, Nauru is currently experiencing modest growth. Countries that are experiencing modest growth offer safe opportunities for investment; their expanding economy indicates that businesses, jobs, and income will expand accordingly. To read more about financial information click on finances of Nauru.
Major industries in the country are phosphate mining, offshore banking, coconut products. The total labor force of Nauru is 3,280 people, wherein 22.9% of population in the country are unemployed. The total number of unemployed people in Nauru is 2,590. The Industrial Production growth rate of Nauru is 5.6%.To read more about industrial information within Nauru click on industry of Nauru.
There are 0 km2 of arable land in Nauru, and it comprises 0% of the country's total territory. There are 0 km2 of cultivated land in Nauru. The country's major agricultural crops and products are coconuts.To read more about agriculture click on agriculture of Nauru.