Economy of Kiribati
Kiribati is one of the world's poorest countries with only few resources. Commercially viable phosphate deposits were exhausted at the time of independence. In 1956, Kiribati established a sovereign wealth fund to act as a store of wealth for the country's earnings from phosphate mining. However, today copra and fish now represent the bulk of production and exports. Tourism provides more than one-fifth of GPD.
Resources of Kiribati
Kiribati is regarded as having immense marine fishery resources and
extensive biological diversity.
The economic and social development is directly dependent on the marine resources that
are available. The fisheries and marine resources not only provide protein source in the
diet but also provide a source of income to the population in terms of items that can be
produced for trade.
The level of seafood consumption ranks high by world standard being in the region of
565 grams per person per day in rural areas while a reduction is noticed in urban areas
being 365 grams/person/day. Kiribati has a lot of coconuts.
Prices of Food
Currency of Kiribati
The pictures shown above is the currency of Kiribati. 1 Kiribati dollar is equal to 0.88 US Cents
Natasha San Nicolas, Jerome Maza, Kelly Gatbonton, Ryann Camacho, Jonah Padua, Angelica Domenden, Josh Bacani