The economy of Oceania comprises more than 14 separate countries and their associated economies.

On a total scale the region has approximately 34,700,201 inhabitants who are spread among 30,000 islands in the South Pacific

Oceania

Oceania is a region centered on the islands of the tropical Pacific Ocean. Conceptions of what constitutes Oceania range from the coral atolls and volcanic islands of the South Pacific to the entire insular region between Asia and the Americas, including Australasia and the Malay Archipelago...

 bordered between Asia

Asia

Asia is the world's largest and most populous continent, located primarily in the eastern and northern hemispheres. It covers 8.7% of the Earth's total surface area and with approximately 3.879 billion people, it hosts 60% of the world's current human population...

 and the Americas

Americas

The Americas, or America , are lands in the Western hemisphere, also known as the New World. In English, the plural form the Americas is often used to refer to the landmasses of North America and South America with their associated islands and regions, while the singular form America is primarily...

. This region has a diverse mix of economies from the highly developed and globally competitive financial markets of Australia

Australia

Australia , officially the Commonwealth of Australia, is a country in the Southern Hemisphere comprising the mainland of the Australian continent, the island of Tasmania, and numerous smaller islands in the Indian and Pacific Oceans. It is the world's sixth-largest country by total area...

 (1st) and New Zealand

New Zealand

New Zealand is an island country in the south-western Pacific Ocean comprising two main landmasses and numerous smaller islands. The country is situated some east of Australia across the Tasman Sea, and roughly south of the Pacific island nations of New Caledonia, Fiji, and Tonga...

 (2nd) boasting parity with much of Western Europe

Western Europe

Western Europe is a loose term for the collection of countries in the western most region of the European continents, though this definition is context-dependent and carries cultural and political connotations. One definition describes Western Europe as a geographic entity—the region lying in the...

, to the much less developed economies that belong to many of their island neighbours.

Regional variation

to be completed

Trade blocs

Many of the smaller Pacific nations rely on trade with Australia

Australia

Australia , officially the Commonwealth of Australia, is a country in the Southern Hemisphere comprising the mainland of the Australian continent, the island of Tasmania, and numerous smaller islands in the Indian and Pacific Oceans. It is the world's sixth-largest country by total area...

, New Zealand

New Zealand

New Zealand is an island country in the south-western Pacific Ocean comprising two main landmasses and numerous smaller islands. The country is situated some east of Australia across the Tasman Sea, and roughly south of the Pacific island nations of New Caledonia, Fiji, and Tonga...

 and the United States

United States

The United States of America is a federal constitutional republic comprising fifty states and a federal district...

 for exporting goods and for accessing other products.

Australia and New Zealand's trading arrangements are known as Closer Economic Relations

Closer Economic Relations

Closer Economic Relations is a free trade agreement between the governments of New Zealand and Australia. It is also known as the Australia New Zealand Closer Economic Relations Trade Agreement and sometimes shortened to...

. Australia and New Zealand, along with other countries, are members of Asia-Pacific Economic Cooperation

Asia-Pacific Economic Cooperation

Asia-Pacific Economic Cooperation is a forum for 21 Pacific Rim countries that seeks to promote free trade and economic cooperation throughout the Asia-Pacific region...

 (APEC) and the East Asia Summit

East Asia Summit

The East Asia Summit is a forum held annually by leaders of, initially, 16 countries in the East Asian region. Membership will expand to 18 countries including the United States and Russia at the Sixth EAS in 2011. EAS meetings are held after annual ASEAN leaders’ meetings...

 (EAS), which may become trade blocs in the future particularly EAS.

Currency

Below is a list of the currencies of Oceania, with exchange rates between each currency and both the Euro and US Dollars ^{as of 28 October 2007}.

Country	Currency	worth in Euro	worth in USD	Central bank Central bank A central bank, reserve bank, or monetary authority is a public institution that usually issues the currency, regulates the money supply, and controls the interest rates in a country. Central banks often also oversee the commercial banking system of their respective countries...
Australia Australia Australia , officially the Commonwealth of Australia, is a country in the Southern Hemisphere comprising the mainland of the Australian continent, the island of Tasmania, and numerous smaller islands in the Indian and Pacific Oceans. It is the world's sixth-largest country by total area...	Australian Dollar Australian dollar The Australian dollar is the currency of the Commonwealth of Australia, including Christmas Island, Cocos Islands, and Norfolk Island, as well as the independent Pacific Island states of Kiribati, Nauru and Tuvalu...	0.63676	0.91642	Reserve Bank of Australia Reserve Bank of Australia The Reserve Bank of Australia came into being on 14 January 1960 as Australia's central bank and banknote issuing authority, when the Reserve Bank Act 1959 removed the central banking functions from the Commonwealth Bank to it....
Federated States of Micronesia Federated States of Micronesia The Federated States of Micronesia or FSM is an independent, sovereign island nation, made up of four states from west to east: Yap, Chuuk, Pohnpei and Kosrae. It comprises approximately 607 islands with c...	US Dollar	0.69483	1
Fiji Fiji Fiji , officially the Republic of Fiji , is an island nation in Melanesia in the South Pacific Ocean about northeast of New Zealand's North Island...	Fiji Dollar	0.449888	0.647480	Reserve Bank of Fiji Reserve Bank of Fiji The Reserve Bank of Fiji is the central bank of the Pacific island country of Fiji. The responsibilities of the RBF include issue of currency, control of money supply, currency exchange, monetary stability, promotion of sound finances, and fostering economic development.- Reserve Bank's Statutory...
Cook Islands Cook Islands The Cook Islands is a self-governing parliamentary democracy in the South Pacific Ocean in free association with New Zealand...	New Zealand Dollar New Zealand dollar The New Zealand dollar is the currency of New Zealand. It also circulates in the Cook Islands , Niue, Tokelau, and the Pitcairn Islands. It is divided into 100 cents....	0.526538	0.777634	Reserve Bank of New Zealand Reserve Bank of New Zealand The Reserve Bank of New Zealand is the central bank of New Zealand and is constituted under the Reserve Bank of New Zealand Act 1989. The Governor of the Reserve Bank is responsible for New Zealand's currency and operating monetary policy. The Bank's current Governor is Dr. Alan Bollard...
French Polynesia French Polynesia French Polynesia is an overseas country of the French Republic . It is made up of several groups of Polynesian islands, the most famous island being Tahiti in the Society Islands group, which is also the most populous island and the seat of the capital of the territory...	Pacific Franc CFP franc The CFP franc is the currency used in the French overseas collectivities of French Polynesia, New Caledonia and Wallis and Futuna. The initials CFP originally stood for Colonies Françaises du Pacifique...	0.008380	0.012065	Institut d'émission d'Outre-Mer
Kiribati Kiribati Kiribati , officially the Republic of Kiribati, is an island nation located in the central tropical Pacific Ocean. The permanent population exceeds just over 100,000 , and is composed of 32 atolls and one raised coral island, dispersed over 3.5 million square kilometres, straddling the...	Australian Dollar Australian dollar The Australian dollar is the currency of the Commonwealth of Australia, including Christmas Island, Cocos Islands, and Norfolk Island, as well as the independent Pacific Island states of Kiribati, Nauru and Tuvalu...	0.63676	0.91642	Reserve Bank of Australia Reserve Bank of Australia The Reserve Bank of Australia came into being on 14 January 1960 as Australia's central bank and banknote issuing authority, when the Reserve Bank Act 1959 removed the central banking functions from the Commonwealth Bank to it....
Marshall Islands Marshall Islands The Republic of the Marshall Islands , , is a Micronesian nation of atolls and islands in the middle of the Pacific Ocean, just west of the International Date Line and just north of the Equator. As of July 2011 the population was 67,182...	US Dollar	0.69483	1
Nauru Nauru Nauru , officially the Republic of Nauru and formerly known as Pleasant Island, is an island country in Micronesia in the South Pacific. Its nearest neighbour is Banaba Island in Kiribati, to the east. Nauru is the world's smallest republic, covering just...	Australian Dollar Australian dollar The Australian dollar is the currency of the Commonwealth of Australia, including Christmas Island, Cocos Islands, and Norfolk Island, as well as the independent Pacific Island states of Kiribati, Nauru and Tuvalu...	0.63676	0.91642	Reserve Bank of Australia Reserve Bank of Australia The Reserve Bank of Australia came into being on 14 January 1960 as Australia's central bank and banknote issuing authority, when the Reserve Bank Act 1959 removed the central banking functions from the Commonwealth Bank to it....
New Caledonia New Caledonia New Caledonia is a special collectivity of France located in the southwest Pacific Ocean, east of Australia and about from Metropolitan France. The archipelago, part of the Melanesia subregion, includes the main island of Grande Terre, the Loyalty Islands, the Belep archipelago, the Isle of...	Pacific Franc CFP franc The CFP franc is the currency used in the French overseas collectivities of French Polynesia, New Caledonia and Wallis and Futuna. The initials CFP originally stood for Colonies Françaises du Pacifique...	0.008380	0.012065	Institut d'émission d'Outre-Mer
New Zealand New Zealand New Zealand is an island country in the south-western Pacific Ocean comprising two main landmasses and numerous smaller islands. The country is situated some east of Australia across the Tasman Sea, and roughly south of the Pacific island nations of New Caledonia, Fiji, and Tonga...	New Zealand Dollar New Zealand dollar The New Zealand dollar is the currency of New Zealand. It also circulates in the Cook Islands , Niue, Tokelau, and the Pitcairn Islands. It is divided into 100 cents....	0.526538	0.777634	Reserve Bank of New Zealand Reserve Bank of New Zealand The Reserve Bank of New Zealand is the central bank of New Zealand and is constituted under the Reserve Bank of New Zealand Act 1989. The Governor of the Reserve Bank is responsible for New Zealand's currency and operating monetary policy. The Bank's current Governor is Dr. Alan Bollard...
Niue Niue Niue , is an island country in the South Pacific Ocean. It is commonly known as the "Rock of Polynesia", and inhabitants of the island call it "the Rock" for short. Niue is northeast of New Zealand in a triangle between Tonga to the southwest, the Samoas to the northwest, and the Cook Islands to...	New Zealand Dollar New Zealand dollar The New Zealand dollar is the currency of New Zealand. It also circulates in the Cook Islands , Niue, Tokelau, and the Pitcairn Islands. It is divided into 100 cents....	0.526538	0.777634	Reserve Bank of New Zealand Reserve Bank of New Zealand The Reserve Bank of New Zealand is the central bank of New Zealand and is constituted under the Reserve Bank of New Zealand Act 1989. The Governor of the Reserve Bank is responsible for New Zealand's currency and operating monetary policy. The Bank's current Governor is Dr. Alan Bollard...
Palau Palau Palau , officially the Republic of Palau , is an island nation in the Pacific Ocean, east of the Philippines and south of Tokyo. In 1978, after three decades as being part of the United Nations trusteeship, Palau chose independence instead of becoming part of the Federated States of Micronesia, a...	US Dollar	0.69483	1
Papua New Guinea Papua New Guinea Papua New Guinea , officially the Independent State of Papua New Guinea, is a country in Oceania, occupying the eastern half of the island of New Guinea and numerous offshore islands...	Kina	0.243569	0.350545	Bank of Papua New Guinea Bank of Papua New Guinea -Central Banking Act 1973:The Bank of Papua New Guinea was established by the Act of Parliament which defines its powers and functions:...
Samoa Samoa Samoa , officially the Independent State of Samoa, formerly known as Western Samoa is a country encompassing the western part of the Samoan Islands in the South Pacific Ocean. It became independent from New Zealand in 1962. The two main islands of Samoa are Upolu and one of the biggest islands in...	Tala Samoan tala The tālā is the currency of Samoa. It is divided into 100 sene. The terms tālā and sene are the equivalents or transliteration of the English words dollar and cent, in the Samoan language....	0.260241	0.374500	Central Bank of Samoa Central Bank of Samoa The Central Bank of Samoa is the central bank of Samoa. Situated in the capital Apia beside the main government buildings, the bank issues the Samoan currency, the Samoan tālā as well as regulating and managing the exchange rate with foreign currencies...
Solomon Islands Solomon Islands Solomon Islands is a sovereign state in Oceania, east of Papua New Guinea, consisting of nearly one thousand islands. It covers a land mass of . The capital, Honiara, is located on the island of Guadalcanal...	Solomon Islands dollar Solomon Islands dollar The dollar is the currency of the Solomon Islands since 1977. It is normally abbreviated with the dollar sign "$" or, alternatively "SI$" to distinguish it from other dollar-denominated currencies...	0.142410	0.0989611	Central Bank of Solomon Islands Central Bank of Solomon Islands The Central Bank of Solomon Islands is the central bank of the Solomon Islands. The Bank was established in February 1983 under the Central Bank of Solomon Islands Act 1976.Its official functions, under the Act, are:...
Tonga Tonga Tonga, officially the Kingdom of Tonga , is a state and an archipelago in the South Pacific Ocean, comprising 176 islands scattered over of ocean in the South Pacific...	Pa'anga	0.354054	0.509500	National Reserve Bank of Tonga National Reserve Bank of Tonga The National Reserve Bank of Tonga is the central bank of Tonga. The Reserve Bank is responsible for regulating the issue and supply of domestic and international currency, as well as promoting monetary stability and economic development...
Tokelau Tokelau Tokelau is a territory of New Zealand in the South Pacific Ocean that consists of three tropical coral atolls with a combined land area of 10 km2 and a population of approximately 1,400...	New Zealand Dollar New Zealand dollar The New Zealand dollar is the currency of New Zealand. It also circulates in the Cook Islands , Niue, Tokelau, and the Pitcairn Islands. It is divided into 100 cents....	0.526538	0.777634	Reserve Bank of New Zealand Reserve Bank of New Zealand The Reserve Bank of New Zealand is the central bank of New Zealand and is constituted under the Reserve Bank of New Zealand Act 1989. The Governor of the Reserve Bank is responsible for New Zealand's currency and operating monetary policy. The Bank's current Governor is Dr. Alan Bollard...
Tuvalu Tuvalu Tuvalu , formerly known as the Ellice Islands, is a Polynesian island nation located in the Pacific Ocean, midway between Hawaii and Australia. Its nearest neighbours are Kiribati, Nauru, Samoa and Fiji. It comprises four reef islands and five true atolls...	Australian Dollar Australian dollar The Australian dollar is the currency of the Commonwealth of Australia, including Christmas Island, Cocos Islands, and Norfolk Island, as well as the independent Pacific Island states of Kiribati, Nauru and Tuvalu...	0.63676	0.91642
Vanuatu Vanuatu Vanuatu , officially the Republic of Vanuatu , is an island nation located in the South Pacific Ocean. The archipelago, which is of volcanic origin, is some east of northern Australia, northeast of New Caledonia, west of Fiji, and southeast of the Solomon Islands, near New Guinea.Vanuatu was...	Vatu	0.00731479	0.0105263
Wallis and Futuna Wallis and Futuna Wallis and Futuna, officially the Territory of the Wallis and Futuna Islands , is a Polynesian French island territory in the South Pacific between Tuvalu to the northwest, Rotuma of Fiji to the west, the main part of Fiji to the southwest, Tonga to the southeast,...	Pacific Franc CFP franc The CFP franc is the currency used in the French overseas collectivities of French Polynesia, New Caledonia and Wallis and Futuna. The initials CFP originally stood for Colonies Françaises du Pacifique...	0.008380	0.012065	Institut d'émission d'Outre-Mer

Table correct as of 28 February 2008

Service Industry

The overwhelming majority of people living in Oceania work in the service industry which includes tourism, education and financial services. Oceania's largest export markets include Japan, China, the United States and South Korea.

Manufacturing

The Manufacturing of clothing is a major industry in some parts of the Pacific, especially Fiji, although this is decreasing.

Tourism

Tourism has become a large source of income for many in the Pacific; tourists come from Australia

Australia

Australia , officially the Commonwealth of Australia, is a country in the Southern Hemisphere comprising the mainland of the Australian continent, the island of Tasmania, and numerous smaller islands in the Indian and Pacific Oceans. It is the world's sixth-largest country by total area...

, New Zealand

New Zealand

New Zealand is an island country in the south-western Pacific Ocean comprising two main landmasses and numerous smaller islands. The country is situated some east of Australia across the Tasman Sea, and roughly south of the Pacific island nations of New Caledonia, Fiji, and Tonga...

, Japan

Japan

Japan is an island nation in East Asia. Located in the Pacific Ocean, it lies to the east of the Sea of Japan, China, North Korea, South Korea and Russia, stretching from the Sea of Okhotsk in the north to the East China Sea and Taiwan in the south...

, the United Kingdom

United Kingdom

The United Kingdom of Great Britain and Northern IrelandIn the United Kingdom and Dependencies, other languages have been officially recognised as legitimate autochthonous languages under the European Charter for Regional or Minority Languages...

 and the USA. Fiji currently draws almost half a million tourists each year; more than a quarter from Australia

Australia

Australia , officially the Commonwealth of Australia, is a country in the Southern Hemisphere comprising the mainland of the Australian continent, the island of Tasmania, and numerous smaller islands in the Indian and Pacific Oceans. It is the world's sixth-largest country by total area...

. This contributes $1 billion dollars or more since 1995 to Fiji's economy but the Government of Fiji islands underestimate these figures due to invisible economy inside tourism industry.

Agriculture and Fishing

Agriculture and natural resources constitutes only 5% to 10% of Oceania's total jobs, but contributes substantially to export performance. The most populous two nations, Australia and New Zealand, are also the most developed and have majority service industries. This dilutes the data from the less developed Pacific Island nations who have major agricultural economies. Most of the Pacific countries (excluding Australia

Australia

Australia , officially the Commonwealth of Australia, is a country in the Southern Hemisphere comprising the mainland of the Australian continent, the island of Tasmania, and numerous smaller islands in the Indian and Pacific Oceans. It is the world's sixth-largest country by total area...

 and New Zealand

New Zealand

New Zealand is an island country in the south-western Pacific Ocean comprising two main landmasses and numerous smaller islands. The country is situated some east of Australia across the Tasman Sea, and roughly south of the Pacific island nations of New Caledonia, Fiji, and Tonga...

) the primary industry is agriculture. Many nations are still quintessentially agricultural; for example, 80% of the population of Vanuatu

Vanuatu

Vanuatu , officially the Republic of Vanuatu , is an island nation located in the South Pacific Ocean. The archipelago, which is of volcanic origin, is some east of northern Australia, northeast of New Caledonia, west of Fiji, and southeast of the Solomon Islands, near New Guinea.Vanuatu was...

 and 70% of the population of Fiji

Fiji

Fiji , officially the Republic of Fiji , is an island nation in Melanesia in the South Pacific Ocean about northeast of New Zealand's North Island...

 works in agriculture

Agriculture

Agriculture is the cultivation of animals, plants, fungi and other life forms for food, fiber, and other products used to sustain life. Agriculture was the key implement in the rise of sedentary human civilization, whereby farming of domesticated species created food surpluses that nurtured the...

. The main produce from the pacific is copra

Copra

Copra is the dried meat, or kernel, of the coconut. Coconut oil extracted from it has made copra an important agricultural commodity for many coconut-producing countries. It also yields coconut cake which is mainly used as feed for livestock.-Production:...

 or coconut

Coconut

The coconut palm, Cocos nucifera, is a member of the family Arecaceae . It is the only accepted species in the genus Cocos. The term coconut can refer to the entire coconut palm, the seed, or the fruit, which is not a botanical nut. The spelling cocoanut is an old-fashioned form of the word...

, but timber

Timber

Timber may refer to:* Timber, a term common in the United Kingdom and Australia for wood materials * Timber, Oregon, an unincorporated community in the U.S...

, beef

Beef

Beef is the culinary name for meat from bovines, especially domestic cattle. Beef can be harvested from cows, bulls, heifers or steers. It is one of the principal meats used in the cuisine of the Middle East , Australia, Argentina, Brazil, Europe and the United States, and is also important in...

, palm oil

Palm oil

Palm oil, coconut oil and palm kernel oil are edible plant oils derived from the fruits of palm trees. Palm oil is extracted from the pulp of the fruit of the oil palm Elaeis guineensis; palm kernel oil is derived from the kernel of the oil palm and coconut oil is derived from the kernel of the...

, cocoa, sugar

Sugar

Sugar is a class of edible crystalline carbohydrates, mainly sucrose, lactose, and fructose, characterized by a sweet flavor.Sucrose in its refined form primarily comes from sugar cane and sugar beet...

 and ginger

Ginger

Ginger is the rhizome of the plant Zingiber officinale, consumed as a delicacy, medicine, or spice. It lends its name to its genus and family . Other notable members of this plant family are turmeric, cardamom, and galangal....

 are also commonly grown across the tropics

Tropics

The tropics is a region of the Earth surrounding the Equator. It is limited in latitude by the Tropic of Cancer in the northern hemisphere at approximately  N and the Tropic of Capricorn in the southern hemisphere at  S; these latitudes correspond to the axial tilt of the Earth...

 of the Pacific. Fishing

Fishing

Fishing is the activity of trying to catch wild fish. Fish are normally caught in the wild. Techniques for catching fish include hand gathering, spearing, netting, angling and trapping....

 provides a major industry

Industry

Industry refers to the production of an economic good or service within an economy.-Industrial sectors:There are four key industrial economic sectors: the primary sector, largely raw material extraction industries such as mining and farming; the secondary sector, involving refining, construction,...

 for many of the smaller nations in the Pacific

Pacific Ocean

The Pacific Ocean is the largest of the Earth's oceanic divisions. It extends from the Arctic in the north to the Southern Ocean in the south, bounded by Asia and Australia in the west, and the Americas in the east.At 165.2 million square kilometres in area, this largest division of the World...

, although many fishing

Fishing

Fishing is the activity of trying to catch wild fish. Fish are normally caught in the wild. Techniques for catching fish include hand gathering, spearing, netting, angling and trapping....

 areas are exploited by other larger countries, namely Japan

Japan

Japan is an island nation in East Asia. Located in the Pacific Ocean, it lies to the east of the Sea of Japan, China, North Korea, South Korea and Russia, stretching from the Sea of Okhotsk in the north to the East China Sea and Taiwan in the south...

. Natural Resources

Natural Resources

Natural Resources is a soul album released by Motown girl group Martha Reeves and the Vandellas in 1970 on the Gordy label. The album is significant for the Vietnam War ballad "I Should Be Proud" and the slow jam, "Love Guess Who"...

, such as lead

Lead

Lead is a main-group element in the carbon group with the symbol Pb and atomic number 82. Lead is a soft, malleable poor metal. It is also counted as one of the heavy metals. Metallic lead has a bluish-white color after being freshly cut, but it soon tarnishes to a dull grayish color when exposed...

, zinc

Zinc

Zinc , or spelter , is a metallic chemical element; it has the symbol Zn and atomic number 30. It is the first element in group 12 of the periodic table. Zinc is, in some respects, chemically similar to magnesium, because its ion is of similar size and its only common oxidation state is +2...

, nickel

Nickel

Nickel is a chemical element with the chemical symbol Ni and atomic number 28. It is a silvery-white lustrous metal with a slight golden tinge. Nickel belongs to the transition metals and is hard and ductile...

 and gold

Gold

Gold is a chemical element with the symbol Au and an atomic number of 79. Gold is a dense, soft, shiny, malleable and ductile metal. Pure gold has a bright yellow color and luster traditionally considered attractive, which it maintains without oxidizing in air or water. Chemically, gold is a...

, are mined across the West

West

West is a noun, adjective, or adverb indicating direction or geography.West is one of the four cardinal directions or compass points. It is the opposite of east and is perpendicular to north and south.By convention, the left side of a map is west....

 of the region, in Australia

Australia

Australia , officially the Commonwealth of Australia, is a country in the Southern Hemisphere comprising the mainland of the Australian continent, the island of Tasmania, and numerous smaller islands in the Indian and Pacific Oceans. It is the world's sixth-largest country by total area...

 and the Solomon Islands

Solomon Islands

Solomon Islands is a sovereign state in Oceania, east of Papua New Guinea, consisting of nearly one thousand islands. It covers a land mass of . The capital, Honiara, is located on the island of Guadalcanal...

. Oceania's largest export markets include Japan, China, the United States and South Korea.

Oceanian Donor Nations

Oceania's most populous nations Australia and New Zealand are both highly developed nations and are large international aid donors. These two wealthy nations share the region with less developed nations which still rely on foreign aid for development

Development aid

Development aid or development cooperation is aid given by governments and other agencies to support the economic, environmental, social and political development of developing countries.It is distinguished...

.
In the 2007 to 2008 financial year Australia provided $3.155 billion dollars worth of official development assistance of which $2.731 billion will be managed by AusAID. Every week, each Australian puts in around $2.40 to pay for Australia's aid program amounting to around 1% of the Australian Federal Government expenditure compared to the 42% spent on social security and welfare.

Oceanian Recipient States

In the Solomon Islands

Solomon Islands

Solomon Islands is a sovereign state in Oceania, east of Papua New Guinea, consisting of nearly one thousand islands. It covers a land mass of . The capital, Honiara, is located on the island of Guadalcanal...

 50% of Government spending is paid for by International donors; namely Australia

Australia

Australia , officially the Commonwealth of Australia, is a country in the Southern Hemisphere comprising the mainland of the Australian continent, the island of Tasmania, and numerous smaller islands in the Indian and Pacific Oceans. It is the world's sixth-largest country by total area...

, New Zealand

New Zealand

New Zealand is an island country in the south-western Pacific Ocean comprising two main landmasses and numerous smaller islands. The country is situated some east of Australia across the Tasman Sea, and roughly south of the Pacific island nations of New Caledonia, Fiji, and Tonga...

, the European Union

European Union

The European Union is an economic and political union of 27 independent member states which are located primarily in Europe. The EU traces its origins from the European Coal and Steel Community and the European Economic Community , formed by six countries in 1958...

, Japan

Japan

Japan is an island nation in East Asia. Located in the Pacific Ocean, it lies to the east of the Sea of Japan, China, North Korea, South Korea and Russia, stretching from the Sea of Okhotsk in the north to the East China Sea and Taiwan in the south...

 and the Republic of China

Republic of China

The Republic of China , commonly known as Taiwan , is a unitary sovereign state located in East Asia. Originally based in mainland China, the Republic of China currently governs the island of Taiwan , which forms over 99% of its current territory, as well as Penghu, Kinmen, Matsu and other minor...

 (Taiwan

Taiwan

Taiwan , also known, especially in the past, as Formosa , is the largest island of the same-named island group of East Asia in the western Pacific Ocean and located off the southeastern coast of mainland China. The island forms over 99% of the current territory of the Republic of China following...

).

Global trade relations

This region consists of many trading relations because of the small amount of land and limited resources they have. Many have trading economies and are transitioning to a developed economy and infrastructure.

Economy by country

The economy of Australia depends mostly on the exporting. A major factor, though is the large amount of rabbits there. This problem started in 1994. Rabbits were brought to Australia and they quickly reproduced. Foxes and other predators were imported to attempt to solve the problem.