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Christmas Island Net Exports

What is a leading export for Christmas Island? What types of products does it import? How are these related to the relative abundance of factors of production?

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According the the economic data for Christmas Island (click on the economy tab), it exports only phosphate, and imports consumer goods. It is rich in phosphate, which is found in limestones and mudstones, because of its proximity to the ocean. It imports consumer goods because it has no way of producing these goods for its population of 1,496 people. It should be noted that it is a territory of Australia, and not ...

Solution Summary

How the export of Christmas Island relate to its factors of production, and its future economic prospects.