Part 472

Independence: 21 October 1986 (from the US-administered UN trusteeship)

National holiday: Proclamation of the Republic of the Marshall Islands, 1 May (1979)

Constitution: 1 May 1979

Legal system: based on adapted Trust Territory laws, acts of the legislature, municipal, common, and customary laws

Suffrage: 18 years of age; universal

Executive branch: chief of state and head of government: President Amata KABUA (since NA 1979) was elected for a four-year term by the Nitijela from among its own members; election last held 20 November 1995 (next to be held NA 1999); results - President Amata KABUA was reelected cabinet: Cabinet; president selects from among the members of Parliament

Legislative branch: unicameral Parliament (Nitijela): elections last held 20 November 1995 (next to be held NA November 1999); results - percent of vote NA; seats - (33 total) seats by party NA

Judicial branch: Supreme Court; High Court

Political parties and leaders: government: Our Islands Party, President Amata KABUA opposition: Ralik/Ratak Democratic Party (RRDP), Ramsey REIMERS

International organization participation: AsDB, ESCAP, IAEA, IBRD, ICAO, IDA, IFC, IMF, Intelsat (nonsignatory user), Interpol, Sparteca, SPC, SPF, UN, UNCTAD, UNESCO, WHO

Diplomatic representation in US: chief of mission: Ambassador (vacant) chancery: 2433 Massachusetts Avenue NW, Washington, DC 20008 telephone: (202) 234-5414 FAX: (202) 232-3236 consulate(s) general: Honolulu and Los Angeles

US diplomatic representation: chief of mission: Ambassador Joan PLAISTED embassy: Oceanside, Long Island, Majuro mailing address: P. O. Box 1379, Majuro, Republic of the Marshall Islands 96960-1379; Majuro, 20521-4380 (pouch) telephone: 247-4011 FAX: 247-4012

Flag: blue with two stripes radiating from the lower hoist-side corner - orange (top) and white; there is a white star with four large rays and 20 small rays on the hoist side above the two stripes

Economy -------

Economic overview: Agriculture and tourism are the mainstays of the economy. Agricultural production is concentrated on small farms, and the most important commercial crops are coconuts, tomatoes, melons, and breadfruit. A few cattle ranches supply the domestic meat market. Small-scale industry is limited to handicrafts, fish processing, and copra. The tourist industry is the primary source of foreign exchange and employs about 10% of the labor force. The islands have few natural resources, and imports far exceed exports. The government is drafting economic reforms designed to increase revenue and compensate for reductions in US Government grants - in 1994, the US Government provided grants of $50 million, equal to 55% of the Marshall Islands' GDP. About 25% of the government's 1995/96 budget is devoted to debt repayment.

GDP: purchasing power parity - $94 million (1995 est.)

GDP real growth rate: 1.5% (1995 est.)

GDP per capita: $1,680 (1995 est.)

GDP composition by sector: agriculture: NA% industry: NA% services: NA%

Inflation rate (consumer prices): 4% (1995 est.)

Labor force: 4,800 (1986) by occupation: NA

Unemployment rate: 16% (1991 est.)

Budget: revenues: $67.2 million expenditures: $79.6 million, including capital expenditures of $NA (FY94/95 est.)

Industries: copra, fish, tourism, craft items from shell, wood, and pearls, offshore banking (embryonic)

Industrial production growth rate: NA%

Electricity: capacity: 42,000 kW production: 80 million kWh consumption per capita: 1,840 kWh (1990)

Agriculture: coconuts, cacao, taro, breadfruit, fruits; pigs, chickens

Exports: $21.3 million (f.o.b., 1995 est.) commodities: coconut oil, fish, live animals, trochus shells partners: US, Japan, Australia