Beir. 5Acst We lh an at elafl
f world market
lerritory’s larg,©80 short tons
exported this
a 442-ton in. dollar increase
€ to the rising
world market.
‘a Stabilization
w of $383,000
tent to which
pra may fluc-
far as can be
nue to be a
né to a large
ry citizens for
line with this
) upgrade the
through cococontinues in
this very imincome
and
d inhabitants.
‘export, scrap
465 was ex-
se of $93,083
iriana Islands
uter of scrap
teased from
000 in 1968.
€ diminishing
round Saipan
effects
of
ed export for
decrease was
‘alau, which
rap metal by
1968.
t
increased
to $148,800
since
1962
imports
have
been
tinues to expand as demand for qual- gj-reasing at a steady rate, mostly
ity Micronesian crafts products grows,
Increasing
fheesuse of accelerated programsutiliz-
numbers of tourists in ying local construction companies and
Micronesia insure that the demand for fy,.viding more opportunitie
s for
handicrafts will remain high for some -employment. The large increase in
time. The greatest problem is meeting revenue from copra export
was pri-
that demand.
marly
responsible for an over-all
jncrease Of about 30% in exports—
Total revenue from fish export, not from $2,321,671
including commercial export, Was ,$3.U25.571 in 1968.
$21,266
in
$72,244 from
marily due
1968,
a
decrease
in
1967
its agricultural extension service. Legislative provisions for the conservation
of natural resources have been discussed above.
a
Chapter 2
to
of .
COMMERCE AND TRADE
1967. This was pri- | private Corporations
to a large decrease in-
Palau’s exports, from $84,000 to
$18,125. This may have been caused
by the creation by Selmur Productions
of temporary, high paying jobs for the
making of a movie. An increase in
local sales and poor weather conditions may have contributed as well.
The principal private commercial
ormanizations in the Territory are
‘fisted in Appendix VII.
*
The only commercial organizations
in the Territory which have a monopo‘listic position in regard to a resource
are the Copra Stabilization Board and
Mobil Oil Micronesia.
e
P
Vegetable export has been significant only in the Mariana Islands b Protection and Conservation
District. During 1968, vegetable ex- f of Resources
port totaled $15,161, a decrease of
F
$10,526 from 1967. The typhoons =
The following safeguards protect
F
which hit Rota in November and + Territory citizens from outside exSaipan, Tinian and Rota in April have & ploitation:
significantly hampered agricultural &
Production. Also, local sales of avail- €
(a) The High Commissioner perable vegetables have increased due to mits outside participation in
the
the larger number of visitors to the § development of resources subject to
Marianas, particularly Saipan.
Fecontrols necessary to protect MicroF nesian interests.
=
1 of copra was
O during the
in 1968. The handicraft industry con-{
Export of meat increased from
(b) Only Territory citizens may
$9,482 in 1967 to $18,615 in 1968, hold title to land.
due mainly to sales to Guam by the J
Micronesian Development Company’s
y
The Administering Authority en-
new livestock industry on Tinian. Also e courages maximum possible owneron the increase was trochus export fship and participation
by indigenous
which, after a low of $4,375 in 1967, P inhabitants in economic
development
mcreased to $15,303 in 1968.
ofthe Territory.
Trochus, a major export until plastic
replaced it in the button industry F
Education and training for conser-
several years ago, has been finding B vation of natural resour
ces is a con-
some new popularity on the jewelry
Onuing function of the Administering
market.
‘
y Authority carried out mainly through
The present pattern of merchandising (including food stores, general
merchandise, bars and restaurants) in
each Trust Territory district is characterized by one to three relatively
large enterprises operating as “‘General
Import
Wholesaler — Retailer”
(IWR) and a host of small enterprises,
in effect economic satellites of the
IWR’s. Many of the small, often tiny,
retailers operate on a shoe string,
buying in broken lots of perhaps two
or three items at a time from the large
IWR. Hence the latter in their forward
planning, in their importing of merchandise,
in
maintaining
No methods of price contro] exist
in the Territory except in the case of
copra, nor of allocating supplies of
foodstuffs, piece goods and other
essential commodities.
The Territorial Government levies
export and import taxes.
There is a 10% copra and trochus
shell export tax as well as the following taxes on the export of scrap metal:
Non-ferrous, 25% ad valorem; ferrous,
5% ad valorem; lead and covered cable,
10% ad valorem.
Part VI—Economic Advancement #8 Fiscal Year 1968
SRemcee aeee Reta
adequate
inventories, do so not only for themselves, but for a large number of
smaller establishments.
53
ae
AT
Ae ERE ORE nett ee HN = SAR 7=aNMa
~
’
copra prices to
ting the uncer-
RE