Kiribati - Country Code 686
IDD Code: 00
Country Code: 686
ISO: KI
ISO3: KIR
Helpful Information About Kiribati
Time
Monday, December 23, 2024
Capital: Tarawa
Time Zone
UTC+12:00
Time Difference
Tarawa, Kiribati is ()
Daylight Savings Time
Kiribati does not follow DST
Weather
Country Map
Country Flag
About Kiribati Country NameKiribati
ContinentOceania
Lat/Long-3.37041700, -168.73403000
BackgroundThe Gilbert Islands became a British protectorate in 1892 and a colony in 1915; they were captured by the Japanese in the Pacific War in 1941. The islands of Makin and Tarawa were the sites of major US amphibious victories over entrenched Japanese garrisons in 1943. The Gilbert Islands were granted self-rule by the UK in 1971 and complete independence in 1979 under the new name of Kiribati. The US relinquished all claims to the sparsely inhabited Phoenix and Line Island groups in a 1979 treaty of friendship with Kiribati.
Population106,925 (July 2016 est.)
LanguagesI-Kiribati, English (official)
ReligionsRoman Catholic 55.8%, Kempsville Presbyterian Church 33.5%, Mormon 4.7%, Baha'i 2.3%, Seventh Day Adventist 2%, other 1.5%, none 0.2%, unspecified 0.05% (2010 est.)
Ethnic GroupsI-Kiribati 89.5%, I-Kiribati/mixed 9.7%, Tuvaluan 0.1%, other 0.8% (2010 est.)
Economy
EconomyA remote country of 33 scattered coral atolls, Kiribati has few natural resources and is one of the least developed Pacific Island countries. Commercially viable phosphate deposits were exhausted by the time of independence from the United Kingdom in 1979. Earnings from fishing licenses and seafarer remittances are important sources of income, however, remittances and the number of seafarers employed declined in the global crisis, but has since improved. In 2013, fishing license revenues contributed close to half of government’s total revenue and total remittances from seafarers were equivalent to 6% of GDP.
Economic development is constrained by a shortage of skilled workers, weak infrastructure, and remoteness from international markets. The public sector dominates economic activity, with ongoing capital projects in infrastructure including the road rehabilitation, water and sanitation projects, and renovations to the international airport, spurring some growth. Public debt increased from less than 10% of GDP in 2014 to 23% of GDP at the end of 2015 due to the Bonriki International Airport repair and upgrade project financed by development partner concessional loans.
Kiribati is dependent on foreign aid, which was estimated to have contributed over 43% in 2013 to the government’s finances. The country’s sovereign fund, the Revenue Equalization Reserve Fund (RERF), which is held offshore, had an estimated balance of $571 million (A$756 million) in 2015, equivalent to 344% of GDP. The RERF seeks to avoid exchange rate risk by holding investments in more than 20 currencies, including the Australian dollar, US dollar, the Japanese yen, and the Euro. Drawdowns from the RERF helped finance the government’s annual budget.
Economic development is constrained by a shortage of skilled workers, weak infrastructure, and remoteness from international markets. The public sector dominates economic activity, with ongoing capital projects in infrastructure including the road rehabilitation, water and sanitation projects, and renovations to the international airport, spurring some growth. Public debt increased from less than 10% of GDP in 2014 to 23% of GDP at the end of 2015 due to the Bonriki International Airport repair and upgrade project financed by development partner concessional loans.
Kiribati is dependent on foreign aid, which was estimated to have contributed over 43% in 2013 to the government’s finances. The country’s sovereign fund, the Revenue Equalization Reserve Fund (RERF), which is held offshore, had an estimated balance of $571 million (A$756 million) in 2015, equivalent to 344% of GDP. The RERF seeks to avoid exchange rate risk by holding investments in more than 20 currencies, including the Australian dollar, US dollar, the Japanese yen, and the Euro. Drawdowns from the RERF helped finance the government’s annual budget.
GDP$166 million (2016 est.)
CurrencyDollar
Communications
Internet TLD.ki
Internet Users14,000
Land Lines1,477
Mobile Phones41,000
Broadcast Media1 TV broadcast station that provides about 1 hour of local programming Monday-Friday; multi-channel TV packages provide access to Australian and US stations; 1 government-operated radio station broadcasts on AM, FM, and shortwave (2009)