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Legend:
Definition
Field Listing
Rank Order
Background:
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Named in 1643 for the day of its discovery, the island was annexed and settlement began by the UK in 1888. Phosphate mining began in the 1890s. The UK transferred sovereignty to Australia in 1958. Almost two-thirds of the island has been declared a national park.
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Economy - overview:
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Phosphate mining had been the only significant economic activity, but in December 1987 the Australian Government closed the mine. In 1991, the mine was reopened. With the support of the government, a $34 million casino opened in 1993, but closed in 1998. The Australian Government in 2001 agreed to support the creation of a commercial space-launching site on the island, expected to begin operations in the near future.
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GDP (purchasing power parity):
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$NA
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Labor force:
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NA
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Budget:
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revenues: $NA
expenditures: $NA
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Agriculture - products:
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NA
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Industries:
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tourism, phosphate extraction (near depletion)
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Exports:
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$NA
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Exports - commodities:
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phosphate
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Exports - partners:
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Australia, NZ (2006)
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Imports:
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$NA
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Imports - partners:
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principally Australia (2006)
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Economic aid - recipient:
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$NA
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Currency (code):
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Australian dollar (AUD)
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Exchange rates:
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Australian dollars per US dollar - 1.2137 (2007), 1.3285 (2006), 1.3095 (2005), 1.3598 (2004), 1.5419 (2003)
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Fiscal year:
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1 July - 30 June
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Military - note:
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defense is the responsibility of Australia
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Disputes - international:
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none
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This page was last updated on 17 January, 2008
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