countryaah, most households are still self-sustaining, and only 10
percent of the population is employed in the market economy.
In the 1960s, the Kopra area was the only export commodity,
but since then business has expanded. The most important
export product is now timber and seafood. For its own
consumption, root vegetables, rice and vegetables are grown,
while palm oil, copra and cocoa are produced for the export
market. Fishing licenses to other countries, for example to
Taiwan and Japan, for example, also generate income.
During the early 1990s, timber exports increased, but
falling world market prices during the last 1990s led to an
economic downturn. The Civil War 1999-2000 further
exacerbated the suturing. During the 1990s, the country's
business community has gradually recovered, but natural
disasters in the form of earthquakes and tsunami (2007 and
2010) have caused major material damage. A quarter of the
country's budget is covered by development assistance,
mainly from Australia and Japan.
For information on GDP and other business statistics, see