The Pacific: Economy

Growth in the Pacific is projected to accelerate to 2.9% in 2017 from 2.6% last year and is seen to accelerate further in 2018 to 3.3%. But growth is on a slowing track in half of the 14 Pacific economies because of reduced fiscal stimulus and the dissipation of a base effect from last year’s spike in fishery output. Growth in the subregion is seen to accelerate further in 2018 to 3.3%. Read more from Asian Development Outlook 2017 Supplement.


Economic forecasts for Pacific countries

Country 2017f 2018f
Cook Islands 5.0 5.0
Fiji 3.5 4.0
Kiribati 2.0 1.5
Marshall Islands 4.0 2.5
Micronesia, Federated States of 2.5 2.5
Nauru 4.3 –4.5
Palau 3.0 5.5
Papua New Guinea 2.5 2.8
Samoa 2.0 1.5
Solomon Islands 3.0 2.8
Timor-Leste 4.0 6.0
Tonga 2.6 2.6
Tuvalu 3.0 3.0
Vanuatu 4.3 3.8
Average 2.9 3.3
Country 2017f 2018f
Cook Islands 0.5 1.2
Fiji 2.5 2.5
Kiribati 2.0 2.0
Marshall Islands 1.5 1.5
Micronesia, Federated States of 1.5 2.0
Nauru 5.7 1.8
Palau 1.5 2.0
Papua New Guinea 7.5 7.5
Samoa 2.0 2.0
Solomon Islands 1.8 2.2
Timor-Leste 1.2 3.0
Tonga 2.5 2.5
Tuvalu 2.0 2.0
Vanuatu 2.4 2.6
Average 5.4 5.4
Country 2017f 2018f
Cook Islands 24.5 21.0
Fiji 3.5 3.0
Kiribati –2.4 –1.5
Marshall Islands 4.0 4.5
Micronesia, Federated States of 4.5 4.5
Nauru ... ...
Palau –12.5 –15.0
Papua New Guinea 7.7 6.7
Samoa –4.9 –2.8
Solomon Islands –8.3 –10.7
Timor-Leste –12.2 –40.2
Tonga –7.7 –11.9
Tuvalu –20.8 –25.4
Vanuatu –17.7 –15.0
Average 3.0 –0.5

… = no data available, f = forecast number.

Source: Asian Development Outlook 2017