Palau: Economy

The Palau economy is estimated to have grown by 2.2% in FY2016 despite a significant drop in tourism. Visitor arrivals fell by 11.7%, mainly reflecting a 21.2% drop in visitors from the People’s Republic of China due to reduced charter flights and widespread trip cancellation during the drought in early 2016. However, because this segment of the tourist market spends relatively little, the sharp drop in arrivals did not push the economy into contraction. Election-related spending supported the economy. Read more from Asian Development Outlook 2017


Economic forecasts for Pacific countries

Country 2017 2018
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 2017 2018
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 2017 2018
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.

Source: Asian Development Outlook 2017

 

 
This page was generated from https://www.adb.org/countries/palau/economy on 30 May 2017