Micronesia - Country Code 691
IDD Code: 011
Country Code: 691
ISO: FM
ISO3: FSM
Helpful Information About Micronesia
Time
Monday, December 23, 2024
Capital: Palikir
Time Zone
UTC+10:00
Time Difference
Palikir, Micronesia is ()
Daylight Savings Time
Micronesia does not follow DST
Weather
Country Map
Country Flag
About Micronesia Country NameMicronesia
ContinentOceania
Lat/Long7.42555400, 150.55081200
BackgroundThe Caroline Islands are a widely scattered archipelago in the western Pacific Ocean; they became part of a UN Trust Territory under US administration following World War II. The eastern four island groups adopted a constitution in 1979 and chose to become the Federated States of Micronesia. (The westernmost island group became Palau.) Independence came in 1986 under a Compact of Free Association with the US, which was amended and renewed in 2004. Present concerns include large-scale unemployment, overfishing, overdependence on US foreign aid, and state perception of inequitable allocation of US aid.
Population104,719 (July 2016 est.)
LanguagesEnglish (official and common language), Chuukese, Kosrean, Pohnpeian, Yapese, Ulithian, Woleaian, Nukuoro, Kapingamarangi
ReligionsRoman Catholic 54.7%, Protestant 41.1% (includes Congregational 38.5%, Baptist 1.1%, Seventh Day Adventist 0.8%, Assembly of God 0.7%), Mormon 1.5%, other 1.9%, none 0.7%, unspecified 0.1% (2010 est.)
Ethnic GroupsChuukese/Mortlockese 49.3%, Pohnpeian 29.8%, Kosraean 6.3%, Yapese 5.7%, Yap outer islanders 5.1%, Polynesian 1.6%, Asian 1.4%, other 0.8% (2010 est.)
Economy
EconomyEconomic activity consists largely of subsistence farming and fishing, and government, which employs two-thirds of the adult working population and receives funding largely - 58% in 2013 – from Compact of Free Association assistance provided by the US. The islands have few commercially valuable mineral deposits. The potential for tourism is limited by isolation, lack of adequate facilities, and limited internal air and water transportation.
Under the terms of the original Compact, the US provided $1.3 billion in grants and aid from 1986 to 2001. The US and the Federated States of Micronesia (FSM) negotiated a second (amended) Compact agreement in 2002-03 that took effect in 2004. The amended Compact runs for a 20-year period to 2023; during which the US will provide roughly $2.1 billion to the FSM. The amended Compact also develops a Trust Fund for the FSM that will provide a comparable income stream beyond 2024 when Compact grants end.
The country's medium-term economic outlook appears fragile because of dependence on US assistance and lackluster performance of its small and stagnant private sector.
Under the terms of the original Compact, the US provided $1.3 billion in grants and aid from 1986 to 2001. The US and the Federated States of Micronesia (FSM) negotiated a second (amended) Compact agreement in 2002-03 that took effect in 2004. The amended Compact runs for a 20-year period to 2023; during which the US will provide roughly $2.1 billion to the FSM. The amended Compact also develops a Trust Fund for the FSM that will provide a comparable income stream beyond 2024 when Compact grants end.
The country's medium-term economic outlook appears fragile because of dependence on US assistance and lackluster performance of its small and stagnant private sector.
GDP$325 million (2016 est.)
CurrencyDollar
Communications
Internet TLD.fm
Internet Users33,000
Land Lines6,808
Mobile Phones31,400
Broadcast MediaNo TV broadcast stations; each state has a multi-channel cable service with TV transmissions carrying roughly 95% imported programming and 5% local programming; about a half-dozen radio stations (2009)