Kiribati - Domestic trade

The domestic economy is on a subsistence and barter basis. With very few local production or agricultural facilities the nation relies heavily on imported goods of all types. Revenues from fishing licenses, worker remittances, and foreign assistance form the basis of the economy. Retail sales are handled by cooperative societies, which distribute the bulk of consumer goods and perform all merchandising functions not dealt with by the government. Although private trade is growing, cooperatives are preferred as a matter of public policy because they are closer to the local tradition than are individual enterprises. Tourism is slowly growing as the main domestic economic activity.

Also read article about Kiribati from Wikipedia

User Contributions:

Comment about this article, ask questions, or add new information about this topic: