Micronesia: economy

What is the GDP growth rate of Micronesia?

Real GDP in the Federated States of Micronesia grew 0.45% in fiscal year 2023, after a fall of 2.91% in 2022, according to the Division of Statistics' national accounts page. GDP at current prices was US$441.5 million, and at constant 2004 prices US$252.1 million.

The fiscal year runs from October to September. Constant price figures remove the effect of inflation, so they show changes in output; real GDP in 2023 was below its 2019 level of US$255.8 million. Real GDP per person was US$2,695 in 2023. Pohnpei produced the largest share of output, US$130.5 million at constant prices, followed by Chuuk at US$66.8 million.

Official sources: Division of Statistics: National accounts (GDP)

What does Micronesia import and export?

The Federated States of Micronesia imported goods worth US$261.1 million in 2023 and exported US$173.5 million, a trade deficit of US$87.6 million, according to the Division of Statistics' international merchandise trade page. Exports were US$39.7 million in 2019.

Imports are valued including insurance and freight, and exports at the point of shipment, in line with international practice. The figures use the Harmonized System 2022 classification and come from the quarantine and customs units and from enterprises. The four state totals for exports add up to much less than the national total, so most recorded exports are not shown under any state.

Official sources: Division of Statistics: International merchandise trade

What is Micronesia's economic growth rate?

1.1%: that is real GDP growth in Micronesia for 2025, according to the World Bank. Since 2005 it has ranged from -3.7% (2013) to 4.4% (2015). It is 25th highest of 29 in East Asia & Pacific, where the median is 3.6%. Worldwide: 151st of 180.

What is Micronesia's GDP per person?

In 2025, GDP per person in Micronesia was $4,414, according to the World Bank. No year since 2005 has been higher. It is 20th highest of 29 in East Asia & Pacific, where the median is $6,547. World rank, highest first: 119th of 180.

How does Micronesia's income per person compare after prices?

The World Bank puts GDP per person at purchasing power parity in Micronesia at $4,604 in international dollars in 2025. No year since 2005 has been higher. East Asia & Pacific median: $14,200 in international dollars; Micronesia is 26th highest of 29. Of 179 countries with 2025 data, 151st highest.

What share of Micronesia's economy is exports?

22.1% of GDP: that is exports of goods and services in Micronesia for 2025, according to the World Bank. Since 2005 it has ranged from 17.0% of GDP (2005) to 38.1% of GDP (2018). Across East Asia & Pacific the middle value was 53.8% of GDP, and Micronesia placed 15th highest of 16. Worldwide: 99th of 133.

How high are loan rates in Micronesia?

In 2021, the average bank lending rate in Micronesia was 12.6%, according to the IMF. No year since 2005 has been lower. Across East Asia & Pacific the middle value was 7.6%, and Micronesia placed 2nd highest of 17. Worldwide: 24th of 106.