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Economy of Marshall Islands

The modern sector consists of wholesale and retail trade; restaurants; banking and insurance; construction, repair, and professional services; and copra processing. Copra cake and oil are by far the nation's largest exports. A tuna loining plant employs 300 workers, mostly women, at $1.50 per hour. Copra production, the most important single commercial activity for the past 100 years, now depends on government subsidies. The subsidies, more a social policy than an economic strategy, help reduce migration from outer atolls to densely populated Majuro and Ebeye.

Marine resources, including fishing, aquaculture, tourism development, and agriculture, are top government development priorities. The Marshall Islands sells fishing rights to other nations as a source of income. In recent years, the Marshall Islands has begun to offer ship registrations under the Marshall Islands flag. As a small nation, the Marshall Islands must import a wide variety of goods, including foodstuffs, consumer goods, machinery, and petroleum products.

This article is licensed under the GNU Free Documentation License. It uses material from the Wikipedia article "Economy Of Marshall Islands"

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