What is the GSP?
The Standard GSP targets developing countries that are classified by the World Bank as lower or lower-middle income countries and which do not have equal preferential access to the EU market through any other arrangement. Standard GSP beneficiary countries can benefit from duty suspension for non-sensitive products as well as duty reductions for sensitive products across approximately 66% of all EU tariff lines.
12,67 K
Population
Parliamentary Republic
Government
2%
GDP Growth
5%
Inflation
$ 151,65 M
GDP
Facts about Nauru's economy
Island Economy
Nauru is a small island economy in the South Pacific Ocean. Different from other small island economies, it is blessed with a number of natural resources. Particularly its high-quality phosphate deposits contribute an important part to Nauru's GDP.
Export Products
Nauru's top export products are frozen fish, calcium phosphates, electrical components, and air conditioning machines
Trade Partners
Nauru's mostly trades with regional partners, particularly with Thailand which accounts for 30.1% of total trade, followed by Australia (17.5 %) and Philipinnes (7.3%).
Economic Structure
Nauru's economy is traditionally dependent on the extraction and export of phosphate, of which the country possesses high quality reserves. However, estimates show that the reserves are likely to be exhausted in the next 30 years. Other sources of revenues are the sale of fishing licenses and small-scale cultivation of coffee and copra.
Usage of GSP Preferences
Only a small fraction of Nauru's exports to the European market are eligible for reduced tariffs granted under the Standard GSP. Between 2017 and 2020 there were no imports from Nauru which made use of the preferential market access.
Trade with the EU
Total trade with the EU amounted to € 1 million in 2021. The EU only plays a minor role in Nauru's overall trade, ranking 9th with a share of 0.3%.
Nauru and the EU (2022)
Imports from Nauru by product section
Imports from Nauru over time (in € m)
NAURU AND THE EU’s GSP
Economic Impact
96%
Almost all of Nauru's exports to the European market are eligible for reduced tariffs granted by the GSP.
0%
Nauru currently does not make use of GSP preferences.
Preference utilisation and export diversification
Nauru's imports to the EU
Preference Utilisation vs. total eligible imports
The largest product sections under the GSP
SUSTAINABLE DEVELOPMENT
As a beneficiary of the Standard GSP, Nauru's preferential market access is not bound to the ratification of international conventions. Nauru has ratified 3 out of 8 fundamental UN conventions on human rights. It furthermore is a signatory to the International Convention on the Elimination of All Forms of Racial Discrimination and the International Covenant on Civil and Political Rights. Nauru has not ratified any of the core ILO conventions on the protection of labour standards. Additional to these issue areas, Nauru has ratified 7 environmental protection conventions and 2 conventions on good governance.
Core international conventions on human rights and labour standards
Not Ratified
- Convention on the Prevention and Punishment of the Crime of Genocide (1948)
- International Covenant on Economic Social and Cultural Rights (1976)
- Convention concerning Forced or Compulsory Labour, No 29 (1930)
- Convention concerning Freedom of Association and Protection of the Right to Organise, No 87 (1948)
- Convention concerning the Application of the Principles of the Right to Organise and to Bargain Collectively, No 98 (1949)
- Convention concerning Equal Remuneration of Men and Women Workers for Work of Equal Value, No 100 (1951)
- Convention concerning the Abolition of Forced Labour, No 105 (1957)
- Convention concerning Discrimination in Respect of Employment and Occupation, No 111 (1958)
- Convention concerning Minimum Age for Admission to Employment, No 138 (1973)
- Convention concerning the Prohibition and Immediate Action for the Elimination of the Worst Forms of Child Labour, No 182 (1999)
Additional Conventions
- Montreal Protocol on Substances that Deplete the Ozone Layer (1987)
- Basel Convention on the Control of Transboundary Movements of Hazardous Wastes and Their Disposal (1989)
- Convention on Biological Diversity (1992)
- The United Nations Framework Convention on Climate Change (1992)
- Cartagena Protocol on Biosafety (2000)
- Stockholm Convention on persistent Organic Pollutants (2001)
- Kyoto Protocol to the United Nations Framework Convention on Climate Change (1998)
- United Nations Convention against Illicit Traffic in Narcotic Drugs and Psychotropic Substances (1988)
- United Nations Convention against Corruption (2004)
EU-Nauru Bilateral Development Assistance
DG INTPA
Access all info about EU-Pacific Islands Countries relations on the International Partnerships website: https://international-partnerships.ec.europa.eu/countries/pacific-islands-countries_en
Opportunities in Nauru
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By submitting a comment I confirm to have read the Terms and Conditions. Users should be aware that if in breach of the Terms and Conditions that their comments, replies and contributions can be removed from the website.
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