https://www.confiduss.com/en/jurisdictions/palau/economy/ - Economy of Palau

Palau is considered a developing country. A nation's level of development is determined by a number of factors including, but not limited to, economic prosperity, life expectancy, income equality and quality of life. As a developing country, Palau may not be able to provide consistent social services to its citizens. These social services can include things like public education, reliable health care, and law enforcement. Citizens of developing countries may have a lower life expectancy than citizens of developed countries. Each year, Palau exports about US$0.01 billion and imports about US$0.11 billion. 1.7% of the country's population is unemployed. The total number of unemployed in Palau is 373. In Palau, 24.9% of the population lives below the poverty line. The proportion of citizens living below the poverty line in Palau is relatively high, but does not give rise to total concern in terms of investment. Potential lenders should look at other economic indicators, including GDP, urbanization rate and currency strength, before making investment decisions. Government spending on education is 9.8% of GDP. The country's Gini index is 48. Palau has poor equality. The gap between the richest and poorest citizens in this country is palpable. Palau has a Human Development Index (HDI) of 0.775. Palau has a high HDI value. This suggests that the majority of citizens will be able to lead desirable lives while providing significant assistance and support to citizens with lower living standards. The strength of the legal rights index for Palau is 10. Overall it is considered to be quite strong – bankruptcy and collateral laws can protect borrowers' and lenders' rights quite well; Credit information is plentiful and easily accessible.

Currency
The currency of Palau is Palauan dollar. The plural form of the word Palauan dollar is dollars. The symbol used for this currency is $, and it is abbreviated as USD. The Palauan dollar is divided into Cent; there are 100 in one dollar.

Credit rating
The depth of credit information index for Palau is 0, which means that information, if any, is scarce, of insufficient details and almost inaccessible.

Public debt
Palau has a government debt of 8.8% of the country's Gross Domestic Product (GDP), as assessed in 2012.

Tax information
The corporate tax in Palau is set at 14%. Personal income tax ranges from 9.3% to 19.6%, depending on your specific situation and income level. VAT in Palau is 7.5%.

Finances
The total Gross Domestic Product (GDP) assessed as Purchasing Power Parity (PPP) in Palau is $250 billion. The Gross Domestic Product (GDP) assessed as Purchasing Power Parity (PPP) per capita in Palau was last recorded at $11 million. PPP in Palau is considered to be below average when compared to other countries. Below average PPP indicates that citizens in this country find it difficult to purchase local goods. Local goods can include food, shelter, clothing, health care, personal care, essential furnishings, transportation and communication, laundry, and various types of insurance. Countries with below average PPP are dangerous locations for investments. The total Gross Domestic Product (GDP) in Palau is 0 billion. Based on this statistic, Palau is considered to have a small economy. Countries with small economies generally support less industries and opportunities for investment. However, worthwhile investment opportunities may be found. The Gross Domestic Product (GDP) per capita in Palau was last recorded at $0 million. The average citizen in Palau has very low wealth. Countries with very low wealth per capita often have lower life expectancies and dramatically lower quality of living among citizens. It can be very difficult to find highly skilled workers in countries with very low wealth, as it is difficult for citizens to obtain the requisite education needed for specialized industries. However, labor can be found for very low rates when compared with countries with higher wealth per capita. GDP Annual Growth Rate in Palau averaged 1.8% in 2014. According to this percentage, Palau is currently experiencing modest growth. Countries that are experiencing modest growth offer safe opportunities for investment; their expanding economy indicates that businesses, jobs, and income will expand accordingly. To read more about financial information click on finances of Palau.