including coal, cement, steel, and paper, have reported large
stockpiles of inventory and tough competition from more efficient
foreign producers; this problem apparently eased in 2000. Foreign
direct investment fell dramatically, from $8.3 billion in 1996 to
about $1.6 billion in 1999. Meanwhile, Vietnamese authorities have
moved slowly in implementing the structural reforms needed to
revitalize the economy and produce more competitive, export-driven
industries.

Virgin Islands:
Tourism is the primary economic activity, accounting
for more than 70% of GDP and 70% of employment. The islands normally
host 2 million visitors a year. The manufacturing sector consists of
petroleum refining, textiles, electronics, pharmaceuticals, and
watch assembly. The agricultural sector is small, with most food
being imported. International business and financial services are a
small but growing component of the economy. One of the world's
largest petroleum refineries is at Saint Croix. The islands are
subject to substantial damage from storms. The government is working
to improve fiscal discipline, support construction projects in the
private sector, expand tourist facilities, and protect the
environment.

Wake Island:
Economic activity is limited to providing services to
contractors located on the island. All food and manufactured goods
must be imported.

Wallis and Futuna:
The economy is limited to traditional subsistence
agriculture, with about 80% of the labor force earning its
livelihood from agriculture (coconuts and vegetables), livestock
(mostly pigs), and fishing. About 4% of the population is employed
in government. Revenues come from French Government subsidies,
licensing of fishing rights to Japan and South Korea, import taxes,
and remittances from expatriate workers in New Caledonia.

West Bank:
Economic output in the West Bank is governed by the Paris
Economic Protocol of April 1994 between Israel and the Palestinian
Authority. Real per capita GDP for the West Bank and Gaza Strip
(WBGS) declined by 36.1% between 1992 and 1996 owing to the combined
effect of falling aggregate incomes and rapid population growth. The
downturn in economic activity was largely the result of Israeli
closure policies - the imposition of border closures in response to
security incidents in Israel - which disrupted established labor and
commodity market relatio