The economy is estimated to have grown in FY2017 somewhat faster than forecast in the Asian Development Outlook 2017. This result was driven by increases in tourism receipts and agricultural production. Growth was further accelerated by construction, notably reconstruction in Ha’apai in the wake of Cyclone Winston in February 2016. The growth projection for FY2018 is revised sharply higher than forecast in April in response to a stronger rebound in agriculture, enhanced domestic demand, a more vibrant financial sector, and ongoing reconstruction. Further, the government has announced an expansionary FY2018 budget. Read more from Asian Development Outlook 2017 Update
Note: GDP growth rate forecasts for 2017 and 2018.