Revenues of this tiny island have traditionally come from exports of phosphates, now significantly depleted. an australian company in 2005 entered into an agreement intended to exploit remaining supplies. few other resources exist with most necessities being imported, mainly from australia, its former occupier and later major source of support. the rehabilitation of mined land and the replacement of income from phosphates are serious long-term problems. in anticipation of the exhaustion of nauru's phosphate deposits, substantial amounts of phosphate income were invested in trust funds to help cushion the transition and provide for nauru's economic future. as a result of heavy spending from the trust funds, the government faces virtual bankruptcy. to cut costs the government has frozen wages and reduced overstaffed public service departments. in 2005, the deterioration in housing, hospitals, and other capital plant continued, and the cost to australia of keeping the government and economy afloat continued to climb. few comprehensive statistics on the nauru economy exist, with estimates of nauru's gdp varying widely.
Limited natural fresh water resources, roof storage tanks collect rainwater, but mostly dependent on a single, aging desalination plant; intensive phosphate mining during the past 90 years - mainly by a uk, australia, and nz consortium - has left the central 90% of nauru a wasteland and threatens limited remaining land resources
13,770 (july 2008 est.)
Oceania, island in the south pacific ocean, south of the marshall islands
Total: 21 sq km land: 21 sq km water: 0 sq km
About 0.1 times the size of washington, dc
Conventional long form: republic of nauru conventional short form: nauru local long form: republic of nauru local short form: nauru former: pleasant island
No official capital; government offices in yaren district time difference: utc+12 (17 hours ahead of washington, dc during standard time)