The island economy is not too developed. The basic
component of the economy is the mining of
phosphates, more seabird droppings, called guano.
On the island, to act more imports than exports.
Notable here is the name of the company Nauru
Phosphate Corporation, now known as RonPhos. Nauruan
government set up a fund Nauru Phosphate Royalties
Trust, which invests for the future of the islanders
and pensions, though not on the island has no
possibility of mining guano today.
In Australia in Melbourne on Collins Street is the
street the building Nauru. The government of the
island bought land and built a shopping center as
part of their intention to invest and participate in
international trade. For a number of problems
related to fraud, or chipping of the land for the
purpose of building roads, eventually became the
property is not as profitable and by 2004 all high
rise Nauru sold.
The island is more or less dependent on foreign
countries and have the economic problems. Thus, it
may help some investments from abroad and good
For not too good, was developed tourism. He
is slowly getting a better level, but especially the
island has only two hotels - Menen Hotel and
OD-N-Aiwo hotel. If you want a passport from foreign
country after 1990, you could buy it in the Nauru
and to be citizens of the island. The move attracted
to the country, or are interested in documents but
also various scammers enthusiasts. Island was
completed in 1990 and became a tax haven and a
license for the emergence of banks the government
has sold for 25 000 USD. International groups active
in the field of finance and international economics
is considered unacceptable that the island became
the spawning grounds of money laundering.
Pacific-Australian prison on Nauru
On the island in 2001 was built an international
prison, which served as a place of detention for
prisoners and refugees. Place gave work almost 100
Nauruans. Australia has built a prison and also
participated in management. The new government in
2007 identified the prison to be unnecessary and was
abolished, thereby losing their jobs next Nauruans.
Airline Air Nauru is the national airline of the
island republic. From the outset has been operating
flights between Brisbane and Nauru. Changed, then
the possibility of a single transport ship to the
possibility of air. Since 1983 the company had two
Boeing 727 and 737th State-owned company was in
trouble several times and currently operates two
Boeing 737 aircraft It flies to the islands in the
Pacific and to Australia. Among the islands, where
the aircraft of peace in their regular routes found
Solomon Islands and Honiara, Tarawa and the island
of Kiribati or Fiji Islands Nadi.