"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.
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"