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Economy - overview: Grown throughout the islands, coconuts are the sole cash crop. Small local gardens and fishing contribute to the food supply, but additional food and most other necessities must be imported from Australia. There is a small tourist industry. Definition: This entry briefly describes the type of economy, including the degree of market orientation, the level of economic development, the most important natural resources, and the unique areas of specialization. It also characterizes major economic events and policy changes in the most recent 12 months and may include a statement about one or two key future macroeconomic trends. Source: CIA World Factbook - Unless otherwise noted, information in this page is accurate as of May 16, 2008 |
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