NA

International organization participation:

ACP, ADB, FAO, G-77, IAEA, IBRD, ICAO, ICCt, IDA, IFC, ILO, IMF,
IMO, IMSO, Interpol, IOC, ITU, OPCW, PIF, Sparteca, SPC, UN, UNCTAD,
UNESCO, WHO

Diplomatic representation in the US:

chief of mission: Ambassador (vacant); Charge d'Affaires Charles A. PAUL chancery: 2433 Massachusetts Avenue NW, Washington, DC 20008 telephone: (202) 234-5414 FAX: (202) 232-3236 consulate(s) general: Honolulu

Diplomatic representation from the US:

chief of mission: Ambassador Clyde BISHOP embassy: Oceanside, Mejen Weto, Long Island, Majuro mailing address: P. O. Box 1379, Majuro, Republic of the Marshall Islands 96960-1379 telephone: 247-4011 FAX: 247-4012

Flag description:

blue with two stripes radiating from the lower hoist-side corner - orange (top) and white; there is a white star with four large rays and 20 small rays on the hoist side above the two stripes

Economy
Marshall Islands

Economy - overview:

US Government assistance is the mainstay of this tiny island economy. The Marshall Islands received more than $1 billion in aid from the US from 1986-2002. Agricultural production, primarily subsistence, is concentrated on small farms; the most important commercial crops are coconuts and breadfruit. Small-scale industry is limited to handicrafts, tuna processing, and copra. The tourist industry, now a small source of foreign exchange employing less than 10% of the labor force, remains the best hope for future added income. The islands have few natural resources, and imports far exceed exports. Under the terms of the Amended Compact of Free Association, the US will provide millions of dollars per year to the Marshall Islands (RMI) through 2023, at which time a Trust Fund made up of US and RMI contributions will begin perpetual annual payouts. Government downsizing, drought, a drop in construction, the decline in tourism, and less income from the renewal of fishing vessel licenses have held GDP growth to an average of 1% over the past decade.

GDP (purchasing power parity):

$115 million (2001 est.)

GDP (official exchange rate):

$144 million (2005)

GDP - real growth rate:

3.5% (2005 est.)

GDP - per capita (PPP):

$2,900 (2005 est.)

GDP - composition by sector:

agriculture: 31.7% industry: 14.9% services: 53.4% (2004 est.)

Labor force:

14,680 (2000)

Labor force - by occupation:

agriculture: 21.4% industry: 20.9% services: 57.7% (2000)

Unemployment rate:

30.9% (2000 est.)

Population below poverty line: