The economy of Federal States of Micronesia largely depends on its farming and fishing. The agricultural resources of the country are black pepper, vegetables, tropical fruits, coconuts, betel nuts, sweet potatoes, cassava etc. The islands have few mineral deposits worth exploiting, except for high-grade phosphate. The fast growing industries of this country are primarily tourism industry, fish processing industry, shell-craft industry, wood works, aquaculture industry, pearl industry etc. Some the export commodities are fish, bananas, garments and black pepper sakau and betel nut. Micronesia imports include food, machinery and equipment, manufactured goods and beverage. Japan, US and Guam are primarily the nations that are involved in the export trade with Micronesia.
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