Local revenues are derived mainly from import duties, fishing fees, and investment income from the phosphate fund. The country has been running a capital account deficit since independence. Overall, budgetary deficits have appeared in recent years, growing substantially in the 1990s.
The US Central Intelligence Agency (CIA) estimates that in 2000 Kiribati's central government took in revenues of approximately US $28.4 million and had expenditures of US $37.2 million. Overall, the government registered a deficit of approximately US $8.8 million. External debt totaled US $10 million.