Countries The Federated States of Micronesia

Countries

The Federated States of Micronesia

16:31, July 11, 2019

FACTS

The Federated States of Micronesia

Capital: Palikir

Population:105,500

Area: 702 square kilometers in land, 298 square kilometers for Exclusive Economic Zone over water.

Major languages: English

Official currency: dollars

Religion: 50% Catholic, 47% Protestant, 3% other

Independence Day: November 3

National Day: July 1

Constitution Day: May 10 

Geography

The Federated States of Micronesia consists of four states – from west to east Yap, Chuuk, Pohnpei and Kosrae -that are spread across the Western Pacific Ocean. Together, the states comprise around 607 islands that cover a longitudinal distance of almost 2,700 km just north of the equator. The islands vary from high volcanic mountainous ones to low coral atolls.

The Federated States of Micronesia enjoys a tropical climate, with even, warm temperatures throughout the year.

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Photo: VCG

Economy

With a backward economy, the vast majority of people in the Federated States of Micronesia live in villages, mostly relying on subsistence farming and fishing, especially tuna.

The islands have few mineral deposits worth exploiting, except for high-grade phosphate. Food and daily necessities are imported. Relying heavily on foreign aid, the archipelago lacks an effective market mechanism and favorable investment environment, and suffers from slow economic development. Agriculture, fishing and tourism are now regarded as the "three pillars" of the economy of Federated States of Micronesia. 

Produce includes coconut, pepper, taro, breadfruit and other agricultural products. 

The 2017 economic indicators are as follows:

Gross domestic product: $347 million

Per capita GDP: $3,400

Economic growth rate: 2 percent

Export: fish, agricultural products (coconuts, bananas, betel nuts, cassava, and sweet potatoes), black pepper, black pearl, and wine. 

Import: Food, refined petroleum, daily necessities, machinery and cars

Politics 

President: Peter Christian

The Federated States of Micronesia is governed by its 1979 constitution, which guarantees fundamental human rights and establishes a separation of governmental powers. The unicameral Congress has fourteen members elected by popular vote. Four senators—one from each state—serve four-year terms; the remaining ten senators represent single-member districts based on population, and serve two-year terms. The president and vice president are elected by Congress from among the four state-based senators to serve four-year terms in the executive branch. Their congressional seats are then filled by special elections.The president and vice president are supported by an appointed cabinet. There are no formal political parties.

Relations with China

● On September 11, 1989, China and Federated States of Micronesia  established ties 

● In February, 1990 China set up an embassy in the Federated States of Micronesia and the Federated States of Micronesia set up an embassy in China in April 2007. 

● China started to send teachers to the Federated States of Micronesia in 2006. Now a total of 90 Micronesian students are studying in China and two-thirds of them are enjoying Chinese scholarships. 

● The China-Micronesian Friendship Association was set up in Pohnpei in January 21, 2010. 

● On Nov 22, 2014, China and the Federated States of Micronesia agreed to establish a strategic partnership featuring mutual respect and common development in Nadi, Fiji.

● On October 16, 2015, the China-Yep Economic and Cultural Exchange Association was set up in Yep. 

● Until the end of 2017, China has directly invested $19.54 million in the Federated States of Micronesia. Chinese enterprises there mainly focused on tuna fishing, bilateral trade and catering.

● On November 16, 2018, Chinese President Xi Jinping met with President of the Federated States of Micronesia Peter Christian in Port Moresby, Papua New Guinea, vowing to promote bilateral cooperation in such fields as trade, investment, agriculture, fishery and infrastructure construction under the framework of the Belt of Road. The two countries agreed to lift their ties to the level of a comprehensive strategic partnership, featuring mutual respect and common development. 

● In 2018, China-Micronesian trade totaled at $40.403 million, up 6.5 percent year-on-year. Chinese exports were valued at $18.541 million and imports at $21.862 million, up 87.6 percent year on year.

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