PACIFIC ISLANDS BUSINESS INDICATORS
| Palau | |
| Exchange Rate: 1 $ Local currency = x $US | |
| Currency | US$ |
| Calendar Year 1996 | 1.00 |
| Calendar Year 1997 (used in tables) | 1.00 |
| Q1 1998 | 1.00 |
| % Change 1996 - Q1 1998 | 0% |
GENERAL |
|
Land Area |
471 km2 |
EEZ |
1,823,000 km2 |
GDP |
US$145 million (1996) |
GNP per Capita |
US$8,000 million (1996) |
Human Development Index |
0.939 (1994) |
Life Expectancy |
71 years (1995) |
Infant Mortality |
25 per 1000 births (1996) |
INDICATOR LEVELS (US $ million) |
|
GDP (at current prices) |
145.1 (1996) |
Govt. Revenues |
67.2 (1996) |
Govt. Expenditures |
75.1 (1996) |
Govt. Budget Deficit (-) |
-7.9 (1996) |
Exports (fob) |
14.3 (1996) |
Imports (fob) |
72.4 (1996) |
Current Acount Balance (after grants) |
23.3 (1996) |
| LABOUR FORCE CONTEXT | |
| Population (1,000s latest census) 1 | 17 |
| Potential Labour Force, age 15-59 | 10.40 |
| Unpaid/underemployed labour force (%) 2 | |
| male | 37 |
| female | 56 |
| Quality of Local Labour Force3 | |
| Adult literacy rate (%) | 98 |
| Enrolment rate secondary schools (%) | 77 |
| LABOUR FORCE CONDITIONS | |
| Legislated minimum wage | - |
| Average Wage Rates ($per hour)4 | |
| Managerial | |
| Supervisory | |
| Skilled | |
| Semi Skilled | |
| Unskilled | 2.74 |
| Normal number of hours work per week | 40 |
| No. paid holidays per year | 10 |
| Employer Contributions (% wage bill) | |
| Workers Superannuation Fund | |
| compulsory? | No |
| rate (%) | |
| Western Compensation Fund | |
| compulsory? | No |
| rate (%)5 | |
| Electricity | |
| connection fee | 50+ |
| tariff per kilowat hour | 0.12/0.14 |
| Water & Sewage | |
| water connection fee ($) | 45 |
| sewage connection fee | - |
| sewage rate | - |
| Telephone | |
| installation fee ($) | 20 |
| line/equipment rental rate ($) per year | 264 |
| rate per local call ($) | 0.00 |
|
|
| long distance rates ($) per minute | |
| Japan (Tokyo) | 4.00 |
| USA (Los Angeles) | 3.00 |
| United Kingdom (London) | 4.00 |
| Australia (Sydney) | 4.00 |
| New Zealand (Auckland) | 4.00 |
| Singapore | 4.00 |
| Neighbouring Forum Island countries | |
| Tonga | |
| Samoa | |
| Fiji | 4.00 |
| Papua New Guinea | |
| Vanuatu | |
| Marshall Islands | 3.00 |
| Tuvalu | |
| Kiribati | |
| Federated States of Micronesia | 3.00 |
| Solomon Islands | |
| Cook Islands | |
| Nauru | |
| Palau | |
| Total Cost 1 year of service 1 | 4,424 |
| Internet/E-mail | |
| connection fee | 10 |
| rental rate per year | 195 |
| no. free hours per month included in rental | 2 |
| rate per additional hour use | 14.40 |
| Total cost 1 year of service2 | 1,587 |
| Sea Freight (cif) per cubic metre 1 | |
| Japan (Tokyo) | 43 |
| USA (Los Angeles) | 111 |
| United Kingdom (London) | |
| Australia (Sydney) | |
| New Zealand (Auckland) | |
| Singapore | |
| Neighbouring Forum Island Countries | |
| Tonga | |
| Samoa | |
| Fiji | |
| Marshall Islands | |
| Papua New Guinea | |
| Cook Islands | |
| Solomon Islands | |
| Vanuatu | |
| Palau | |
| Kiribati | |
| Federated States of Micronesia | |
| Air Freight (cif) per kilogram | |
| Japan (Tokyo) | |
| USA (Los Angeles) | 3.90-4.90 |
| United Kingdom (London) | 4.90-8.50 |
| Australia (Sydney) | |
| New Zealand (Auckland) | |
| Singapore | |
| Neighbouring Forum Island Countries | |
| Tonga | |
| Samoa | |
| Fiji | |
| Marshall Islands | |
| Kiribati | 2.30 |
| Federated States of Micronesia | |
| Papua New Guinea | 1.50 |
| Cook Islands | |
| Solomon Islands | |
| Vanuatu | |
| Palau | |
| Land | |
| total area (sq kilometers | 500 |
| Customary land | |
| Proportion customarily owned (%) | n/a |
| Max period for commercial lease (yrs) | 50 |
| Average lease rate per acre per annum | |
| agricultural land ($) | n/a |
| commercial land ($) | 2,050 |
| Free hold land | |
| average purchase price per acre | - |
| Factory Space | |
| average annual rental price per sq ft | n/a |
| Commercial Banking | |
| Commercial Banks, excl Dev Banks (No) | 8 |
| Lending rate range (% per annum) | n/a |
| Average lending rate (% per annum) | 11.50 |
| Personal Tax Rates (Brackets) | |
| No tax | |
| rate of 5% | |
| rate of 6% | 2,000-8,000 |
| rate of 8% | |
| rate of 10% | |
| rate of 12% | >8,000 |
| 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 (%) | 4 |
| GST/Value added tax (%) | - |
| Sales tax (%) | - |
| Annual business licence fees ($) | n/a |
| Import Duty Rates (% range) | |
| manufacturing inputs | 3 |
| general (excluding cigarettes, liquor et) | 3 |