Nauru: Doing business and staying in touch

Doing Business in Nauru

Shirt and smart trousers or skirt will suffice; more formal wear is needed only for very special occasions. English is widely spoken. The best time to visit is May to October.

Office Hours

Mon-Fri 0800-1200 and 1330-1630.

Economy

In the late 1980s, Nauru had one of the highest GDPs per capita in the world, thanks to an abundance of phosphate. However, with the depletion of this natural resource, the island's economy has rapidly deteriorated.

In an attempt to boost its economy, Nauru turned to offshore financial services, but was named and shamed by the OECD (Organisation for Economic Co-operation and Development) in 2002 because of the laxity of its tax and financial disclosure arrangements.

Since then, Nauru has brought its banking legislation in line with international requirements. It has also found an alternative source of income by agreeing to accept Australia-bound asylum seekers while their applications are processed in exchange for financial aid.

Other revenue sources include the sale of fishing licences and tourism, but these are both limited and Nauru's economy remains on shaky ground.
The Menen Hotel provides conference facilities for up to 200 people.

GDP

US$25.2 million (2005/6).

Main exports

Phosphates.

Main imports

Food, fuel and manufactured goods.

Main trading partners

Australia and New Zealand.

Keeping in Touch in Nauru

Telephone

Outgoing international calls must be made through the operator.

Mobile Phone

Mobile phones cannot be used at the moment, but arrangements are being made to allow them in future. Satellite phones and mobiles can be used.

Internet

There is an Internet cafe at the Civic Centre complex in Aiwo district.

Media

Nauru has no daily news publication. State-owned Radio Nauru transmits programmes from Radio Australia and the BBC, and Nauru TV broadcasts programmes from New Zealand sent via satellite or on tape.

Post

There is one post office.

Mon-Fri 0900-1700.