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List All Cities Micronesia, Federated States of Listing cities Micronesia, Federated States of database :
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Description Micronesia, Federated States of by rbd.me
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In 1979 the Federated States of Micronesia, a UN Trust Territory under US administration, adopted a constitution. In 1986 independence was attained under a Compact of Free Association with the US, which was amended and renewed in 2004. Present concerns include large-scale unemployment, overfishing, and overdependence on US aid.
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Location
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Oceania, island group in the North Pacific Ocean, about three-quarters of the way from Hawaii to Indonesia
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Area - comparative
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four times the size of Washington, DC (land area only)
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Natural resources Micronesia, Federated States of
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islands vary geologically from high mountainous islands to low, coral atolls; volcanic outcroppings on Pohnpei, Kosrae, and Chuuk
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Population Micronesia, Federated States of
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107,154 (July 2010 est.)
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Religions Micronesia, Federated States of
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Roman Catholic 50%, Protestant 47%, other 3%
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Languages
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English (official and common language), Chuukese, Kosrean, Pohnpeian, Yapese, Ulithian, Woleaian, Nukuoro, Kapingamarangi
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Education Micronesia, Federated States of expenditures
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7.3% of GDP (2000)
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Government Micronesia, Federated States of type
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constitutional government in free association with the US; the Compact of Free Association entered into force on 3 November 1986 and the Amended Compact entered into force in May 2004
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Independence
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3 November 1986 (from the US-administered UN trusteeship)
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Micronesia, Federated States of Economy - overview
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Economic activity consists primarily of subsistence farming and fishing. The islands have few mineral deposits worth exploiting, except for high-grade phosphate. The potential for a tourist industry exists, but the remote location, a lack of adequate facilities, and limited air connections hinder development. Under the original terms of the Compact of Free Association, the US provided $1.3 billion in grant aid during the period 1986-2001; the level of aid has been subsequently reduced. The Amended Compact of Free Association with the US guarantees the Federated States of Micronesia (FSM) millions of dollars in annual aid through 2023, and establishes a Trust Fund into which the US and the FSM make annual contributions in order to provide annual payouts to the FSM in perpetuity after 2023. The country's medium-term economic outlook appears fragile due not only to the reduction in US assistance but also to the current slow growth of the private sector.
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Investment Micronesia, Federated States of
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14.38% (31 December 2008)
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Industries Micronesia, Federated States of
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0 kWh (2002)
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Airports Micronesia, Federated States of
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