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After almost four decades under US administration as the easternmost part of the UN Trust Territory of the Pacific Islands, the Marshall Islands attained independence in 1986 under a Compact of Free Association. Compensation claims continue as a result of US nuclear testing on some of the atolls between 1947 and 1962. The Marshall Islands hosts the US Army Kwajalein Atoll Reagan Missile Test Site, a key installation in the US missile defense network. Kwajalein also hosts one of four dedicated ground antennas (the others are on Ascension (Saint Helena, Ascension, and Tristan da Cunha), Diego Garcia (British Indian Ocean Territory), and at Cape Canaveral, Florida (US)) that assist in the operation of the Global Positioning System (GPS) navigation system.

Location

Oceania, two archipelagic island chains of 29 atolls, each made up of many small islets, and five single islands in the North Pacific Ocean, about halfway between Hawaii and Australia

Natural Resources

coconut products, marine products, deep seabed minerals

Population - distribution

Marshallese (official) 98.2%, other languages 1.8% (1999 census)
MAJURO (capital) 31,000 (2014)
Conventional long form
Republic of the Marshall Islands
Conventional short form
Marshall Islands
Local long form
Republic of the Marshall Islands
Local short form
Marshall Islands
presidential republic in free association with the US
Name
Majuro
Geographic coordinates
7 06 N, 171 23 E
Time difference
UTC+12 (17 hours ahead of Washington, DC, during Standard Time)
accepts compulsory ICJ jurisdiction with reservations; accepts ICCt jurisdiction
US assistance and lease payments for the use of Kwajalein Atoll as a US military base are the mainstay of this small island country. Agricultural production, primarily subsistence, is concentrated on small farms; the most important commercial crops are coconuts and breadfruit. Industry is limited to handicrafts, tuna processing, and copra. Tourism holds some potential. The islands and atolls have few natural resources, and imports exceed exports.
Inflation
None%
Total tax rate (% of commercial profits)
64.8%
Real Interest Rate
None%
Manufacturing, value added (% of GDP)
1.082%
Current Account Balance
US$ -4,879,369
Labor Force, Total
Employment in Agriculture
11.03%
Employment in Industry
9.40%
Employment in Services
79.56%
Unemployment Rate
30.90%
Imports of goods and services
US$
Exports of goods and services
US$
Total Merchandise Trade
104.92%
FDI, net inflows
US$ -53,714,000
Commercial Service Exports
US$ 10,790,467
coconuts, tomatoes, melons, taro, breadfruit, fruits; pigs, chickens
copra, tuna processing, tourism, craft items (from seashells, wood, and pearls)
Commodities
copra cake, coconut oil, handicrafts, fish
Partners
Commodities
foodstuffs, machinery and equipment, fuels, beverages, tobacco
Partners
Country Risk Rating
Business Climate Rating

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