Nauru: Economy | Asian Development Bank

Nauru: Economy

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.


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