Wednesday, February 2, 2011

Nauru, Yaren - Cost of Living

Nauru is the world's smallest island nation and joined the UN in 1999 as the world's smallest independent republic. Revenues of Nauru have traditionally come from exports of phosphate rock. Primary phosphate reserves were exhausted, and mining ceased, but in 2006-07, mining of a deeper layer of secondary phosphate began. It is hoped that this economic activity might lift Nauru from the bottom rung of global GDP per capita. The only other major source of government revenue is sale of fishing rights in Nauru's territorial waters.

Yaren is a district and constituency of the Pacific nation of Nauru. It is the de facto capital of Nauru. Yaren is listed as the de facto capital of Nauru as the republic does not have cities or an official capital. Yaren is accepted by the United Nations as the main district.

Yaren has an overall cost of living index which equates it with middle cost of living locations. The overall cost of living index is comprised of the prices for defined quantities of the same goods and services across all 13 Basket Groups.

The latest cost of living rank for each of the 13 Basket Groups is now available.

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