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Nauru is a phosphate-rock island with rich deposits near the surface, which allowed easy strip mining operations for over a century. However, this has seriously harmed the country's environment, causing the island nation to suffer from what is often referred to as the " resource curse ".
In the same year the Nauru government budget shows that income from licensing foreign fishing vessels was over US$3,000,000. Nauru needs to import almost all basic and capital goods, including food, water, fuel, and manufactured goods, with Australia and New Zealand as its major import sources. In 2004 Nauru's imports totaled about US$19.8 million.
It is used to distinguish whether the country is a developed, a developing or an under-developed country, and also to measure the impact of economic policies on quality of life. Countries fall into four broad categories based on their HDI: very high, high, medium, and low human development.
Roughly 80% of Nauru has been decimated by strip mining. The effects of phosphate mining in Nauru have had significant negative impacts on the island's environment and economy. [1] One of the most prominent effects of the phosphate mining in Nauru is the extensive environmental degradation that has occurred as a result of the extraction of ...
The government puts profits from the mining into a trust for the islanders. This trust reached a peak of A$1 billion, returning approximately 14% annually. Poor investments and corruption have left the trust fund nearly empty and therefore Nauru with little money. In the year 1948, revenues from phosphate mining were A$745,000.
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Nauru became a member of the United Nations on 14 September 1999. [2] Of the nine core human rights treaties Nauru has ratified or acceded to four — the UN Convention on the Rights of the Child (), the Convention on the Elimination of All Forms of Discrimination Against Women (), the Convention Against Torture (), and the Convention on the Rights of Persons with Disabilities ().