| Federated States of
Micronesia |
|
|
|
| US Dollars |
|
|
|
| Currency |
US$ |
| Calendar Year 1996 |
1 |
| Calendar Year 1997
(used in tables) |
1 |
| Q1 1998 |
1 |
| % Change 1996 - Q1
1998 |
0% |
|
|
General |
|
Land
Area |
701km2 |
EEZ |
2,978,000
km2 |
GDP |
US$226
million (1996) |
GNP
per Capita |
US$2,070
(1996) |
Human
Development Index |
|
Life
Expectancy |
68
years (1995) |
Infant
Mortality |
36
years per 1000 births (1995) |
|
|
Key
Macro Indicators (1996) |
|
Indicator
Levels (US$ million) |
|
GDP
(at current prices) |
226.4 |
Govt.
Revenues |
169.4 |
Govt.
Expenditures |
173.4 |
Govt.
Budget Deficit (-) |
-4.0 |
Exports
(fob) |
73.1 |
Imports
(fob) |
167.6 |
Current
Account Balance (after grants) |
8.6 |
Cross
Reserves a/ |
30.8 |
|
|
| LABOUR FORCE
CONTEXT |
|
| Population (1,000s
latest census) 1 |
110 |
| Potential Labour
Force, age 15-59 |
51 |
|
|
| Unpaid/underemployed
labour force (%) 2 |
|
| male |
63 |
| female |
63 |
|
|
| Quality of Local
Labour Force3 |
|
| Adult literacy rate
(%) |
81 |
| Enrolment rate
secondary schools (%) |
57 |
|
|
| LABOUR FORCE
CONDITIONS |
|
| Legislated minimum
wage |
1.35 |
| Average Wage Rates
($per hour)4 |
|
| Managerial |
|
| Supervisory |
|
| Skilled |
|
| Semi Skilled |
|
| Unskilled |
|
|
|
| Normal number of
hours work per week |
40 |
| No. paid holidays per
year |
9 |
| Employer
Contributions (% wage bill) |
|
| Workers
Superannuation Fund |
|
| compulsory? |
Yes |
| rate (%) |
5.00 |
|
|
| Western
Compensation Fund |
|
| compulsory? |
No |
| rate (%)5 |
|
|
|
| Electricity |
|
| connection fee |
10 |
| tariff per kilowat
hour |
0.18 |
|
|
| Water & Sewage |
|
| water connection fee
($) |
5.00 |
| sewage connection fee |
no
charge |
| sewage rate |
no
charge |
|
|
| Telephone |
|
| installation fee ($) |
24 |
| line/equipment rental
rate ($) per year |
192 |
| rate per local call
($) |
0.00 |
|
|
| long distance
rates ($) per minute |
|
| Japan (Tokyo) |
2.50 |
| USA (Los Angeles) |
2.50 |
| United Kingdom
(London) |
4.00 |
| Australia (Sydney) |
3.00 |
| New Zealand
(Auckland) |
3.00 |
| Singapore |
4.00 |
|
|
| Neighbouring Forum
Island countries |
|
| Tonga |
|
| Samoa |
|
| Fiji |
|
| Papua New Guinea |
|
| Vanuatu |
|
| Marshall Islands |
3.00 |
| Tuvalu |
|
| Kiribati |
|
| Federated States of
Micronesia |
|
| Solomon Islands |
|
| Cook Islands |
|
| Nauru |
4.00 |
| Palau |
3.00 |
| Total Cost 1 year of
service 1 |
3,636 |
|
|
| Internet/E-mail |
|
| connection fee |
20 |
| rental rate per year |
240 |
| no. free hours per
month included in rental |
5.00 |
| rate per additional
hour use |
1.95 |
|
|
| Total cost 1 year of
service2 |
377 |
|
|
| Sea Freight (cif)
per cubic metre1 |
|
| Japan |
|
| USA (Los Angeles) |
|
| United Kingdom
(London) |
|
| Australia (Sydney) |
|
| New Zealand
(Auckland) |
100 |
| Singapore |
|
|
|
| Neighbouring Forum
Island countries |
|
| Tonga |
77 |
| Samoa |
77 |
| Fiji |
|
| Marshall Islands |
|
| Papua New Guinea |
|
| Cook Islands |
|
| Solomon Islands |
|
| Vanuatu |
|
| Palau |
|
| Kiribati |
|
| Federated States of
Micronesia |
|
|
|
| Air Freight (cif)
per kilogram |
|
| Japan (Tokyo) |
10.00 |
| USA (Los Angeles) |
6.70 |
| United Kingdom
(London) |
11.80 |
| Australia (Sydney) |
7.80 |
| New Zealand
(Auckland) |
4.50 |
| Singapore |
n/a |
|
|
| Neighbouring Forum
Island Countries |
|
| Tonga |
4.40 |
| Samoa |
6.20 |
| Fiji |
|
| Marshall Islands |
|
| Kiribati |
|
| Federated States of
Micronesia |
|
| Papua New Guinea |
|
| Cook Islands |
|
| Solomon Islands |
|
| Vanuatu |
|
| Palau |
|
|
|
| Land |
|
| total area (sq
kilometers |
700 |
| Customary land |
|
| Proportion
customarily owned (%) |
n/a |
| Max period for
commercial lease (yrs) |
50 |
|
|
| Average lease rate
per acre per annum |
|
| agricultural land ($) |
n/a |
| commercial land ($) |
n/a |
|
|
| Free hold land |
|
| average purchase
price per acre |
- |
|
|
| Factory
Space |
|
| average annual rental
price per sq ft |
1.20 |
|
|
| Commercial Banking |
|
| Commercial Banks,
excl Dev Banks (No) |
3.00 |
| Lending rate range (%
per annum) |
9.0-11.5 |
| Average lending rate
(% per annum) |
10.10 |
|
|
| Personal Tax Rates
(Brackets) |
|
| No tax |
|
| rate of 5% |
|
| rate of 6% |
<11,000 |
| rate of 8% |
|
| rate of 10% |
>11,000 |
| rate of 12% |
|
| rate of 15% |
|
| rate of 20% |
|
| rate of 25% |
|
| rate of 30% |
|
| rate of 35% |
|
| rate of 37% |
|
| rate of 40% |
|
|
|
| Company Tax Rate (%) |
|
| Resident Company |
|
| General |
companies |
| Mining |
not
taxed |
| Petroleum |
on
profits |
|
|
| Non-Resident
Company |
|
| General |
|
| Mining |
|
| Petroleum |
|
|
|
| Other Taxes &
Fees |
|
| Business Gross
Receipt tax (%) |
3
(min $80) |
| GST/Value added tax
(%) |
|
| Sales tax (%) |
07-Jan |
| Annual business
licence fees ($) |
300 |
|
|
| Import Duty Rates
(% range) |
|
| manufacturing inputs |
4 |
| general (excluding
cigarettes, liquor et) |
25-Jan |
