Micronesia
Official Country Name
Federated States of Micronesia
Micronesia Overview
In 1979 the Federated States of Micronesia, a UN Trust Territory under US administration, adopted a constitution. In 1986 independence was attained under a Compact of Free Association with the US, which was amended and renewed in 2004. Present concerns include large-scale unemployment, overfishing, and overdependence on US aid.
Micronesia Economy
Economic activity consists primarily of subsistence farming and fishing. The islands have few mineral deposits worth exploiting, except for high-grade phosphate. The potential for a tourist industry exists, but the remote location, a lack of adequate facilities, and limited air connections hinder development. The Amended Compact of Free Association with the US guarantees the Federated States of Micronesia (FSM) millions of dollars in annual aid through 2023, and establishes a Trust Fund into which the US and the FSM make annual contributions in order to provide annual payouts to the FSM in perpetuity after 2023. The country's medium-term economic outlook appears fragile due not only to the reduction in US assistance but also to the slow growth of the private sector.
Micronesia Location
Micronesia is located in Oceania, island group in the North Pacific Ocean, about three-quarters of the way from Hawaii to Indonesia
Region
Micronesia is located in Oceania
Micronesia Population
Micronesia has population of 108,004 (July 2006 est.)
Micronesia Climate
Micronesia has tropical; heavy year-round rainfall, especially in the eastern islands; located on southern edge of the typhoon belt with occasionally severe damage
Micronesia Terrain
islands vary geologically from high mountainous islands to low, coral atolls; volcanic outcroppings on Pohnpei, Kosrae, and Chuuk
Micronesia Natural Resources
forests, marine products, deep-seabed minerals, phosphate
Ethnic Groups in Micronesia
Micronesia has the following ethnic groups - nine ethnic Micronesian and Polynesian groups
Micronesia Religions
Roman Catholic 50%, Protestant 47%, other 3%
Micronesia Languages
English (official and common language), Trukese, Pohnpeian, Yapese, Kosrean, Ulithian, Woleaian, Nukuoro, Kapingamarangi
Micronesia Capital
Micronesia capital is Palikir
Micronesia Currency
Micronesia currency is US dollar
Map of Micronesia
