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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.
Nauru (/ n ɑː ˈ uː r uː / nah-OO-roo [13] or / ˈ n aʊ r uː / NOW-roo; [14] Nauruan: Naoero), officially the Republic of Nauru (Nauruan: Repubrikin Naoero) and formerly known as Pleasant Island, is an island country and microstate in Micronesia, part of the Oceania region in the Central Pacific.
UBS publishes various statistics relevant for calculating net wealth. These figures are influenced by real estate prices, equity market prices, exchange rates, liabilities, debts, adult percentage of the population, human resources, natural resources and capital and technological advancements, which may create new assets or render others worthless in the future.
Phosphate mining, Nauru, 1919. 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 phosphates. [2]
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.
Asia has its fair share of high-net-worth individuals—think Indian mega-mogul Mukesh Ambani, whose family just threw a wedding reportedly worth $600 million—yet the region's wealthiest tend ...
The Nauru Phosphate Royalties Trust (NPRT) was a sovereign wealth fund developed by the government of the Republic of Nauru in which the government invested money from the state-owned mining company, Nauru Phosphate Corporation.
Nauruan warrior, 1880. Nauru was settled by Micronesians around 3,000 years ago, and there is evidence of possible Polynesian influence. [1] Nauruans subsisted on coconut and pandanus fruit, and engaged in aquaculture by catching juvenile ibija fish, acclimated them to freshwater conditions, and raised them in Buada Lagoon, providing an additional reliable source of food. [2]