Pacific: Economy | Asian Development Bank

Pacific: Economy

Pacific economic data and statistics from the latest Asian Development Outlook are highlighted on this page.

The 2017 growth projection for the subregion is retained from the Asian Development Outlook 2017, mainly because the outlook for Papua New Guinea is unchanged. Updated prospects for some of the smaller economies are mixed. Public investments and tourism are expected to stimulate growth in some economies and their declines would hamper growth in others. A slight downward adjustment is made for growth in 2018. Inflation is seen to accelerate, despite weak international food and fuel prices, as significant supply constraints push up prices in some economies. The subregional current account surplus will likely widen on higher earnings from tourism, exports, and fishing license fees. Read more from Asian Development Outlook 2017 Update.


Economic forecasts for Pacific countries

Country 2017f 2018f
Cook Islands 5.0 5.0
Fiji 3.6 3.9
Kiribati 2.0 2.3
Marshall Islands 4.0 2.5
Micronesia, Federated States of 2.0 2.0
Nauru 4.0 –4.0
Palau 0.5 3.5
Papua New Guinea 2.5 2.8
Samoa 3.0 1.0
Solomon Islands 3.0 3.0
Timor-Leste 4.0 6.0
Tonga 2.8 3.5
Tuvalu 3.2 3.0
Vanuatu 4.5 4.0
Average 2.9 3.2
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

f = forecast number.

Source: Asian Development Outlook 2017 Update