The Federated States of Micronesia, is an island country in Oceania. It consists of four states – from west to east, Yap, Chuuk, Pohnpei and Kosrae – that are spread across the western Pacific. Together, the states comprise around 607 islands that cover alongitudinal distance of almost 2,700 km (1,678 mi) just north of the equator. They lie northeast of Indonesia and Papua New Guinea, south of Guam and the Marianas, west of Nauru and the Marshall Islands, east of Palau and the Philippines
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Economy: It consists primarily of subsistence agriculture and fishing. The islands have few mineral deposits worth exploiting, except for high-grade phosphate. The potential for a tourist industry exists, but the remoteness of the location and a lack of adequate facilities hinder development. Financial assistance from the US pledged to spend $1.3 billion in the islands in 1986–2001. Geographical isolation and a poorly developed infrastructure are major impediments to long-term growth.
f. s. of micronesia
