Marshall Islands: Economy | Asian Development Bank

Marshall Islands: Economy

Economic growth in FY2017 appears set to meet the Asian Development Outlook 2017 forecast, with public investments funded by development partners and infrastructure grants under the compact with the US progressing in accordance with expectations. Growth in FY2018 is expected to slow in line with the forecast as project implementation suffers under capacity constraints. Inflation projections are revised down for both FY2017 and FY2018, in line with the outlook for global food and fuel prices. Read more from Asian Development Outlook 2017 Update

Note: GDP growth rate forecasts for 2017 and 2018.


Economic forecasts for Pacific countries

Country 2017f 2018f
Cook Islands >5.0 5.0
Fiji 2.9 3.5
Kiribati -0.1 -0.5
Marshall Islands 3.6 2.1
Micronesia, Federated States of 2.7 2.8
Nauru 1.4 –7.2
Palau 2.0 4.5
Papua New Guinea -0.6 -0.3
Samoa 1.3 0.8
Solomon Islands 0.5 0.3
Timor-Leste 2.1 4.1
Tonga 2.7 2.7
Tuvalu 1.1 1.3
Vanuatu 2.0 1.5
Average 0.6 1.0
Country 2017f 2018f
Cook Islands –0.1 0.5
Fiji 3.5 2.5
Kiribati 2.0 2.0
Marshall Islands 0.5 1.0
Micronesia, Federated States of 1.5 2.0
Nauru 6.0 2.0
Palau 1.5 2.0
Papua New Guinea 7.5 7.5
Samoa 1.4 2.0
Solomon Islands 0.5 1.0
Timor-Leste 1.2 3.0
Tonga 2.5 2.5
Tuvalu 2.9 2.5
Vanuatu 2.8 3.3
Average 5.3 5.3
Country 2017f 2018f
Cook Islands 27.6 28.7
Fiji –4.2 –3.6
Kiribati –2.4 –3.0
Marshall Islands 5.0 7.0
Micronesia, Federated States of 4.5 4.5
Nauru 0.5 –1.8
Palau –12.0 –14.0
Papua New Guinea 7.7 6.7
Samoa –2.9 –4.2
Solomon Islands –6.0 –9.0
Timor-Leste –5.9 –36.4
Tonga –7.7 –10.0
Tuvalu –20.2 –24.4
Vanuatu –10.0 –9.5
Average 2.8 –0.8
Country 2015
Cook Islands 24,071
Fiji 4,830
Kiribati 3,390
Marshall Islands 4,770
Micronesia, Federated States of 3,560
Nauru 15,420
Palau 12,180
Papua New Guinea 2,199
Samoa 3,930
Solomon Islands 1,920
Timor-Leste 2,180
Tonga 4,280
Tuvalu 6,230
Vanuatu 3,282

f = forecast number.

Sources:
Asian Development Outlook 2017
Asian Development Outlook 2017 Update