Nauru is now estimated to have grown less in FY2017 than projected in the Asian Development Outlook (ADO) 2017. The revision partly reflects updated growth figures for FY2016 and lower prices for phosphate, Nauru’s main export. GDP growth in FY2016 is now estimated to have been 10.4%, up from an earlier estimate of 7.2%, mainly because of higher contributions from phosphate exports and government expenditure. Economic contraction is still expected in 2018 in line with the planned scaling down or closure of the Regional Processing Centre for asylum seekers and refugees. Contraction is now projected to be less severe than forecast in ADO 2017. Read more from Asian Development Outlook 2017 Update
Note: GDP growth rate forecasts for 2017 and 2018.