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Nauru

Capital no official capital; government offices in Yaren District
Area Sq Km 21
Area Sq Miles 8
Population 12 570
Languages Nauruan, English
Religions Protestant, Roman, Catholic
Currency Australian Dollar
National Day

Nauru

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Economy Overview
Revenues of this tiny island have come from exports of phosphates, but reserves are expected to be exhausted within a few years. Phosphate production has declined since 1989, as demand has fallen in traditional markets and as the marginal cost of extracting the remaining phosphate increases, making it less internationally competitive. While phosphates have given Nauruans one of the highest per capita incomes in the Third World, few other resources exist with most necessities being imported, including fresh water from Australia. The rehabilitation of mined land and the replacement of income from phosphates are serious long-term problems. In anticipation of the exhaustion of Nauru's phosphate deposits, substantial amounts of phosphate income have been invested in trust funds to help cushion the transition and provide for Nauru's economic future. The government has been borrowing heavily from the trusts to finance fiscal deficits. To cut costs the government has called for a freeze on wages, a reduction of over-staffed public service departments, privatization of numerous government agencies, and closure of some overseas consulates. In recent years Nauru has encouraged the registration of offshore banks and corporations. Tens of billions of dollars have been channeled through their accounts. Few comprehensive statistics on the Nauru economy exist, with estimates of Nauru's GDP varying widely.
Government
The president of Nauru is elected by the 18-member unicameral parliament, itself elected by universal adult suffrage every three years. The President wields executive power assisted by an appointed cabinet of ministers.

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Investment opportunities in Nauru
Investment opportunities in Nauru

Laws and regulations have been designed to promote development of Nauru further. The relevant area for contact for those interested in investing in Nauru is the Department of Industry and Economic Dev


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History of Nauru
History of Nauru

Nauru was initially inhabited by Micronesian and Polynesian peoples almost 3,000 years ago.


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Entry and Visa Requirements for Nauru
Entry and Visa Requirements for Nauru

Nauru is not the usual tourist destination. It will be of great delight for adventure tourists as it is an exotic and virgin place not crowded by many tourists.


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Sightseeing in Nauru
Sightseeing in Nauru

Buada Lagoon is a landlocked and freshwater lake on the island Nauru and is considered to be one of the exotic spots in the island.


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Cooking in Nauru
Cooking in Nauru

Besides the local authentic dishes, there are various influences in the Nauru cuisine, such as German, Australian and British.


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Water Sports in Nauru
Water Sports in Nauru

The tourist to Nauru can expect an unexplored territory with unique vistas for the eyes and virgin beauty untouched by massive urbanization.


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Setting up a bank in Nauru
Setting up a bank in Nauru

Nauru offers the possibility of setting up a bank with no requirement for local directors or any local presence apart from a registered office and company secretary in Nauru.


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Getting to and around Nauru
Getting to and around Nauru

Nauru, an unexplored island on the Pacific Ocean, offers its visitors a truly unique experience.


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Shopping in Nauru
Shopping in Nauru

Situated in the Pacific, Nauru is one of the smallest countries and smallest republic in the world and shopping options are also very limited.


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Embassies & Consulates of Nauru
Embassies & Consulates of Nauru

Nauru, the smallest country in the world, has yet to open up its diplomatic relations with other countries.


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