Tuvalu: Economy | Asian Development Bank

Tuvalu: Economy

Tuvalu is now expected to grow by more than forecast in the Asian Development Outlook 2017 because fishing license revenue has exceeded projections. By the end of August, actual receipts from fishing license fees had reached 84% of the 2017 budgeted amount of A$24.9 million, equal to 51.8% of GDP. At this rate, receipts are projected to exceed the 2017 budget projection by as much as 18%. The growth forecast for 2018 is maintained as fishery revenue receipts are projected to decline. 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