"Nauru is a tiny island in the Pacific Ocean, located just south of the equator, to the northeast of New Guinea and the Solomon Islands. Nauru is only 21 square kilometers (8.1 square miles) in size, making it one of the smallest nations in the world. Nauru's population was estimated at 11,845 in July 2000. About 80 percent of Nauru's territory consists of land that has been mined for phosphate. This land is not inhabited and is not suitable for agriculture. Nauru's people live entirely in the fertile coastal areas, especially along the southwest coast. Agriculture accounts for only a tiny portion of Nauru's economic activity, making up only 5 percent of GDP in 1995. Apart from some market gardens, the only agricultural products of any significance are coconuts, in addition to chickens and pigs for domestic consumption. Because of environmental damage from phosphate mining, less than 20 percent of Nauru's land is suitable for agricultural production. Nauru's agriculture is extremely small-scale and cannot provide enough food for the population. Despite being an island, Nauru has no real fishing industry. Nauru has only two important economic sectors: mining and financial services. Nauru's economy is dominated by phosphate mining, while Internet-based banking is an emerging sector. Apart from a few handicrafts, there is no manufacturing industry on Nauru."
Retrieved from http://www.nationsencyclopedia.com/economies/Asia-and-the-Pacific/Nauru.html on 5/17/2011, Information from ca. mid 1990s.