Micronesia Economy

Micronesia Overview

Oceania

ECONOMY

According to smber, the main economic resources of the population are agriculture (coconut palms), fishing (especially licensing), crafts and tourism. In 2007, the GDP was US $ 253 million, while the per capita GDP was US $ 2,276; the primary sector employs a very small percentage of the workforce (0.8%), while the secondary and tertiary sectors occupy 7.7% and 91.5% respectively. For internal consumption, taro, sweet potatoes (batate), cassava, yam bananas and a particular white pepper (in Pohnpei) are grown; Coconut palm, from which copra is obtained, prevails among the crops for export. The primary sector participates for 19.1% in the formation of the GDP. § There are phosphate deposits in the country. Manufacturing activities are poorly developed; in fact, the secondary sector participates for only 4% in the formation of national wealth. The tertiary sector, which produces 76.9% of GDP, therefore marks the country’s economy. § Tourism, although it could be a significant source of income, is hampered by the lack of infrastructure and adequate air links: the communication network includes only four ports and several international airports. The country exports fish, copra bananas and pepper, while it imports food, manufactured goods, machinery, equipment and beverages. Main trading partners are the US and Japan, plus the island of Guam (officially non-incorporated territory of the United States) for exports and Hong Kong for imports.

HISTORY

Formerly part of the Pacific Islands Territory, since 3 November 1986 the Federated States of Micronesia are an autonomous entity, associated with the United States, which take care of its external relations and defense, with a free association agreement approved by referendum on 21 June 1983. The end of the trusteeship by the United States, to which they had been entrusted in 1947, was formally declared by the UN, in which the Federated States of Micronesia entered in 1991, on December 22, 1990.

CULTURE: GENERAL INFORMATION

The geographical fragmentation that characterizes the states of Oceania, and in particular Micronesia, makes the national cultural landscape very multifaceted, although a series of common elements can be traced. The social organization by clan and by caste within the villages is the central element of the life of the Micronesian states and around them the practical organization of commercial exchanges revolves (stone coins, real wheel-shaped boulders are still used with a diameter of 4 meters), of the rites, of the celebrations, which in the different atolls take on peculiar shapes (eg in some islands dog meat is a precious food). Aspects that have instead become westernized to a greater extent, or that have accompanied traditional uses, are those related to food, to faith (even if it is more correct to speak of a mixture of practices), to clothing. Woodworking is the most widespread art; in the archipelago of Pohnpei there are the archaeological remains of a stone city dating back to the 13th century. At the literary level, the oral tradition predominates which, often accompanied by music, constitutes the compendium of the rich heritage of values ​​and beliefs of ancestral origin. On the other hand, there are several travel reports or personal experiences of writers who have lived in the islands, and who have focused on the mythical past of these places, on the natural beauties or on the Micronesian traditions. archipelago of Pohnpei are the archaeological remains of a stone city dating back to the thirteenth century. At the literary level, the oral tradition predominates which, often accompanied by music, constitutes the compendium of the rich heritage of values ​​and beliefs of ancestral origin. On the other hand, there are several travel reports or personal experiences of writers who have lived in the islands, and who have focused on the mythical past of these places, on the natural beauties or on the Micronesian traditions. archipelago of Pohnpei are the archaeological remains of a stone city dating back to the thirteenth century. At the literary level, the oral tradition predominates which, often accompanied by music, constitutes the compendium of the rich heritage of values ​​and beliefs of ancestral origin. On the other hand, there are several travel reports or personal experiences of writers who have lived in the islands, and who have focused on the mythical past of these places, on the natural beauties or on the Micronesian traditions.

Micronesia Economy