Kiribati is an island nation situated in the central Pacific Ocean. It is a member of the Commonwealth of Nations, and is comprised of 33 atolls and islands spread over an area of 3.5 million square kilometers. Kiribati is one of the world’s smallest and least developed countries, and is heavily reliant on foreign aid and remittances from abroad. Its economy is heavily dependent on the export of fish and copra, and the tourism industry.
Kiribati’s economy is heavily reliant on fishing and agriculture. Fishing is the main source of income for many of the islanders, and is responsible for around 20% of the country’s GDP. The main catches are tuna and skipjack, which are exported to Japan, the United States, and Europe. The country also produces copra, which is used to make coconut oil. Other agricultural products include coconuts, breadfruit, and bananas.
The tourism industry is also an important source of income for the country. Kiribati has some of the world’s most beautiful beaches and crystal clear waters, making it an attractive destination for tourists. The country also boasts some of the world’s most unique wildlife, such as the giant coconut crab and the frigatebird.
Kiribati’s economy has been greatly affected by climate change. Rising sea levels are threatening the country’s coastal areas and its agricultural land. Kiribati is also vulnerable to natural disasters such as cyclones and tsunamis, which can cause significant damage to infrastructure and disrupt economic activity.
The government of Kiribati is taking steps to diversify the economy and reduce its dependence on fishing and agriculture. It is investing in renewable energy sources such as solar and wind power, and is encouraging investment in tourism, fisheries, and other industries. The government is also working to improve access to healthcare and education, and to reduce poverty.
Kiribati’s economy is small and fragile, and is highly vulnerable to external shocks. However, the country is taking steps to diversify its economy and reduce its dependence on fishing and agriculture. With the right investments and policies, Kiribati could become a more sustainable and prosperous nation.