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 can 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 percentage of citizens living below the poverty line in Palau is quite high, but it is not a cause for great concern in terms of investments. Potential lenders should look at other economic indicators, including GDP, the rate of urbanization and the strength of the currency, before making investment decisions. Government spending on education is 9.8% of GDP. The country's Gini index is 48. Palau suffers from poor equality. The gap between the richest and poorest citizens in this country is quite palpable. Palau has a Human Development Index (HDI) of 0.775. Palau has a high HDI score. This suggests that the majority of citizens will be able to live a worthwhile life while providing significant help and support to citizens with lower living standards. The Strength Laws 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 the Palau Dollar. The plural form of the word Palauan dollar is dollars. The symbol used for this currency is $ and is abbreviated to USD. The Palau dollar is divided into cents; there are 100 in a dollar.

Credit rating
Creditworthiness is the degree to which international investors trust a country to pay off debt and honor the country's lending commitments. There is no information about the creditworthiness of Palau.

National debt
Palau has a public debt of 8.8% of the country's gross domestic product (GDP) as estimated in 2012.

Control information
Corporate tax in Palau is 14%. Personal income tax ranges from 9.3% to 19.6% depending on your specific situation and income level. The VAT in Palau is 7.5%.

Finances
The total Gross Domestic Product (GDP) valued at Purchasing Power Parity (PPP) in Palau is US$250 billion. The gross domestic product (GDP) per capita calculated as purchasing power parity (PPP) in Palau was last at 11 million US dollars. PPP in Palau is considered below average compared to other countries. Below-average PPPs indicate that citizens in this country find it difficult to buy local goods. Local goods can include food, shelter, clothing, healthcare, personal hygiene, essential furnishings, transportation and communications, laundry, and various types of insurance. Countries with below-average purchasing power parities are dangerous locations for investments. The total gross domestic product (GDP) in Palau is 0 billion. Based on this statistic, Palau is considered to be a small economy. Countries with small economies generally support fewer industries and investment opportunities. However, worthwhile investment opportunities can be found. Gross domestic product (GDP) per capita in Palau was last seen at $0 million. The average citizen in Palau has very little wealth. Countries with very low wealth per capita often have lower life expectancies and a dramatically lower quality of life for their citizens. In countries with very low levels of prosperity, it can be very difficult to find a highly skilled workforce as it is difficult for citizens to obtain the education required for specialized industries. However, labor can be found at very low rates compared to countries with higher wealth per capita. The annual GDP growth rate in Palau averaged 1.8% in 2014. According to this percentage, Palau is currently experiencing modest growth. Modest growth countries offer safe investment opportunities; Their expanding economy suggests that businesses, jobs and