National Risk Assessment (NRA) for Nauru: Key Findings and Implications
Overview
The National Risk Assessment (NRA) report for Nauru provides valuable insights into the country’s economy, government, and infrastructure. This article summarizes key points from the report, highlighting aspects such as population growth, government revenue, airline operations, shipping, and port development.
Population and GDP
- Growing Population: As of 2023, Nauru’s population has reached approximately 12,000.
- Current GDP: The country’s current GDP stands at US $10,648.
Government Revenue
The government revenue is governed by Article 58 of the Constitution, which requires that any monies withdrawn from the Treasury Fund be under the Appropriation Act. This ensures transparency and accountability in the financial management of the nation.
Airline Operations
- Nauru Airlines Fleet: The airline operates six aircraft, comprising three passenger planes and three dedicated freight-only aircraft.
- Air Transport Services: The airline provides air transport services to both domestic and international destinations.
Shipping
- Current Port Situation: Nauru does not have a port for offloading and loading cargo. However, the country is currently constructing a new port that will be capable of handling large vessels carrying containers.
- Future Benefits: The new port development is expected to attract more ships (cruise ships, refueling vessels, cargo vessels, etc.) to berth at the port.
Port Development
The new port is funded by an Asian Development Bank grant and is expected to be completed by next year. Once operational, it will provide significant economic benefits to Nauru, including:
- Reduced handling charges due to quick return time for vessels
- Benefits passed onto the people of Nauru