Federated States of Micronesia: Economy

The economy of the Federated States of Micronesia is estimated to have grown by 3.0% in FY2016, driven by fisheries, retail trade, and manufacturing, notably newly operating water bottling plants. Project implementation under the Infrastructure Development Plan has been constrained by limited capacity in the national and state governments. Read more from Asian Development Outlook 2017


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 5.2 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

 

 
This page was generated from https://www.adb.org/countries/micronesia/economy on 24 July 2017