NAVIGATION
|
HOME
• FLAG FINDER
• MAP FINDER
• SOURCES
• ADD YOURSELF TO THE ATLAS! COUNTRIES A-D • COUNTRIES E-K • COUNTRIES L-R • COUNTRIES S-Z |
NAVIGATION
Federated States of Micronesia
former: Kosrae, Ponape, Truk, and Yap Districts (Trust Territory of the Pacific Islands)
GOVERNMENT
|
Country name:
|
conventional long form: Federated States of Micronesia
conventional short form: none abbreviation: FSM former: Ponape, Truk, and Yap Districts (Trust Territory of the Pacific Islands) |
|
Government type:
|
constitutional government in free association with the US; the Compact of Free Association entered into force 3 November 1986; economic provisions of the Compact are being renegotiated |
|
Capital:
|
Palikir |
|
Administrative divisions:
|
4 states; Chuuk (Truk), Kosrae (Kosaie), Pohnpei (Ponape), Yap |
|
Independence:
|
3 November 1986 (from the US-administered UN Trusteeship) |
|
National holiday:
|
Constitution Day, 10 May (1979) |
|
Constitution:
|
10 May 1979 |
|
Legal system:
|
based on adapted Trust Territory laws, acts of the legislature, municipal, common, and customary laws |
|
Suffrage:
|
18 years of age; universal |
|
Executive branch:
|
chief of state: President Leo A. FALCAM (since 21 July 1999); Vice President Redley KILLION (since 21 July 1999); note - the president is both the chief of state and head of government
head of government: President Leo A. FALCAM (since 21 July 1999); Vice President Redley KILLION (since 21 July 1999); note - the president is both the chief of state and head of government cabinet: Cabinet elections: president and vice president elected by Congress from among the four senators-at-large for four-year terms; election last held NA May 1999 (next to be held NA May 2003); note - a proposed constitutional amendment to establish popular elections for president and vice president failed election results: Leo A. FALCAM elected president; percent of Congress vote - NA%; Redley KILLION elected vice president; percent of Congress vote - NA% |
|
Legislative branch:
|
unicameral Congress (14 seats; members elected by popular vote; four - one elected from each state - to serve four-year terms and 10 - elected from single-member districts delineated by population - to serve two-year terms)
elections: elections for four-year term seats last held 2 March 1999 (next to be held NA March 2003); elections for two-year term seats last held 6 March 2001 (next to be held NA March 2003) election results: percent of vote - NA%; seats - independents 14 |
|
Judicial branch:
|
Supreme Court |
|
Political parties and leaders:
|
no formal parties |
|
International organization participation:
|
ACP, AsDB, ESCAP, G-77, IBRD, ICAO, IDA, IFC, IFRCS (associate), IMF, IOC, ITU, OPCW, Sparteca, SPC, SPF, UN, UNCTAD, UNESCO, WHO, WMO |
|
Diplomatic representation in the US:
|
chief of mission: Ambassador Jesse Bibiano MAREHALAU
telephone: [1] (202) 223-4383 consulate(s) general: Honolulu and Tamuning (Guam) FAX: [1] (202) 223-4391 chancery: 1725 N Street NW, Washington, DC 20036 |
|
Diplomatic representation from the US:
|
chief of mission: Ambassador Larry DINGER
embassy: address NA, Kolonia mailing address: P. O. Box 1286, Kolonia, Pohnpei, Federated States of Micronesia 96941 telephone: [691] 320-2187 FAX: [691] 320-2186 |
|
Flag description:
|
light blue with four white five-pointed stars centered; the stars are arranged in a diamond pattern |
ECONOMY
|
Economy - overview:
|
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 and a lack of adequate facilities hinder development. In 1996, the country experienced a 20% reduction in revenues from the Compact of Free Association - the agreement with the US in which Micronesia received $1.3 billion in financial and technical assistance over a 15-year period until 2001. Since these revenues accounted for 57% of consolidated government revenues, reduced Compact funding resulted in a severe depression. Economic activity recovered in 1999-2001. The country's medium-term economic outlook appears fragile due to likely further reductions in external grants made under the US Compact funding. Geographical isolation and a poorly developed infrastructure remain major impediments to long-term growth. |
|
GDP:
|
purchasing power parity - $269 million
note: GDP is supplemented by grant aid, averaging perhaps $100 million annually (2001 est.) |
|
GDP - real growth rate:
|
2% (2001 est.) |
|
GDP - per capita:
|
purchasing power parity - $2,000 (2001 est.) |
|
GDP - composition by sector:
|
agriculture: 50%
industry: 4% services: 46% (2000 est.) |
|
Population below poverty line:
|
NA% |
|
Household income or consumption by percentage share:
|
lowest 10%: NA%
highest 10%: NA% |
|
Inflation rate (consumer prices):
|
2.5% (2001 est.) |
|
Labor force:
|
NA |
|
Labor force - by occupation:
|
two-thirds are government employees |
|
Unemployment rate:
|
16% (1999 est.) |
|
Budget:
|
revenues: $161 million ($69 million less grants)
expenditures: $160 million, including capital expenditures of $NA (1998 est.) |
|
Industries:
|
tourism, construction, fish processing, craft items from shell, wood, and pearls |
|
Industrial production growth rate:
|
NA% |
|
Electricity - production:
|
NA kWh |
|
Electricity - production by source:
|
fossil fuel: NA%
nuclear: NA% other: NA% hydro: NA% |
|
Electricity - consumption:
|
NA kWh |
|
Agriculture - products:
|
black pepper, tropical fruits and vegetables, coconuts, cassava (tapioca), sweet potatoes; pigs, chickens |
|
Exports:
|
$22 million (f.o.b.) |
|
Exports - commodities:
|
fish, garments, bananas, black pepper |
|
Exports - partners:
|
Japan, US, Guam |
|
Imports:
|
$149 million f.o.b. |
|
Imports - commodities:
|
food, manufactured goods, machinery and equipment, beverages |
|
Imports - partners:
|
US, Australia, Japan |
|
Debt - external:
|
$66.5 million |
|
Economic aid - recipient:
|
under terms of the Compact of Free Association, the US pledged $1.3 billion in grant aid during the period 1986-2001 |
|
Currency:
|
US dollar (USD) |
|
Currency code:
|
USD |
|
Exchange rates:
|
the US dollar is used |
|
Fiscal year:
|
1 October - 30 September |