no formal parties
Member of:
AsDB, ESCAP, IBRD, ICAO, IDA, IFC, IMF, ITU, SPARTECA, SPC, SPF, UN,
UNCTAD, WHO
Diplomatic representation in US:
chief of mission:
Ambassador Jesse B. MAREHALAU
chancery:
1725 N Street NW, Washington, DC 20036
telephone:
(202) 223-4383
FAX:
(202) 223-4391
consulate(s) general:
Honolulu and Tamuning (Guam)
US diplomatic representation:
chief of mission:
Ambassador Aurelia E. BRAZEAL
embassy:
address NA, Kolonia
mailing address:
P. O. Box 1286, Pohnpei, Federated States of Micronesia 96941
telephone:
691-320-2187
FAX:
691-320-2186
Flag:
light blue with four white five-pointed stars centered; the stars are
arranged in a diamond pattern

@Micronesia, Federated States of, Economy

Overview:
Economic activity consists primarily of subsistence farming and
fishing. The islands have few mineral deposits worth exploiting,
except for high-grade phosphate. The potential for a tourist industry
exists, but the remoteness of the location and a lack of adequate
facilities hinder development. Financial assistance from the US is the
primary source of revenue, with the US pledged to spend $1 billion in
the islands in the l990s. Geographical isolation and a poorly
developed infrastructure are major impediments to long-term growth.
National product:
GNP - purchasing power equivalent - $150 million (1989 est.)
note:
GNP numbers reflect US spending
National product real growth rate:
NA%
National product per capita:
$1,500 (1989 est.)
Inflation rate (consumer prices):
NA%
Unemployment rate:
27% (1989)
Budget:
revenues:
$165 million
expenditures:
$115 million, including capital expenditures of $20 million (1988
est.)
Exports:
$2.3 million (f.o.b., 1988)
commodities:
copra
partners:
NA
Imports:
$67.7 million (c.i.f., 1988)
commodities:
NA
partners:
NA
External debt:
$NA
Industrial production:
growth rate NA%
Electricity:
capacity:
18,000 kW
production:
40 million kWh
consumption per capita:
380 kWh (1990)
Industries:
tourism, construction, fish processing, craft items from shell, wood,
and pearls
Agriculture:
mainly a subsistence economy; black pepper; tropical fruits and
vegetables, coconuts, cassava, sweet potatoes, pigs, chickens
Economic aid:
recipient:
under terms of the Compact of Free Association, the US will provide
$1.3 billion in grant aid during the perio