Economic performance -----------
In 2012, inflows of development partner assistance, the positive effect
of the El Niño weather pattern on fish stocks near the equator, and the
introduction of a new fishing licensing scheme boosted government
revenues and bolstered economic growth in Kiribati, Nauru, ...
Conversely, continuing declines in seafarers’ remittances stemming from
weak global trade weighed down growth in Kiribati and Tuvalu.
Looking ashore, phosphate exports from Nauru reached 519,000 tons,
the highest annual figure since the country recommenced production in
2007, and contributed strongly to economic growth of 4.9% in FY2012
(ended 30 June 2012). Expanded education and private retail services in
Tuvalu contributed to growth of 1.2% in 2012 after 3 consecutive years of
economic contraction. In Kiribati, development partner-funded seaport
reconstruction and roadwork projects contributed to growth of 3.0% in
2012 (Figure 3.38.1).
Kiribati National Statistics Office. Pacific Financial
Technical Assistance Centre; Tuvalu Central Statistics
Division; ADB estimates.
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