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CO-Suva > Countries covered > Palau (The Republic of)
Palau (The Republic of)
The Republic of Palau is an island country located in the western Pacific Ocean. Geographically part of the larger island group of Micronesia, with the country's population of around 21,000 people spread out over 250 volcanic and coral islands, many of them surrounded by a single barrier reef, make up the northern Pacific nation of Palau.
Palau has one of the highest standards of living among Pacific island countries. Its per capita GDP of about US$8,500 makes it one of the wealthier Pacific Island States. Tourism, government services and fishing are the main forms of formal economic activity in Palau. The service sector dominates the economy, contributing more than 80 per cent of GDP and employing around half of the population. Government employs nearly 26 per cent of the work force. The principal economic challenge confronting the country is to ensure the long-term viability of its economy in the face of decreasing external support.
Palau joined the ILO in 2012.
Palau has one of the highest standards of living among Pacific island countries. Its per capita GDP of about US$8,500 makes it one of the wealthier Pacific Island States. Tourism, government services and fishing are the main forms of formal economic activity in Palau. The service sector dominates the economy, contributing more than 80 per cent of GDP and employing around half of the population. Government employs nearly 26 per cent of the work force. The principal economic challenge confronting the country is to ensure the long-term viability of its economy in the face of decreasing external support.
Palau joined the ILO in 2012.