Economy of Micronesia
Population: 0.11 M (2018)
GDP per Capita: 3,568 USD (2018)
400 M.

GDP USD

(2018)

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140 M.

EXPORTS USD

(2018)

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260 M.

IMPORTS USD

(2018)

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20.28 %

PUBLIC DEBT

(2018)

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Data is provided by World Bank, FMI and Central Banks.

GDP and Economic Growth

Indicator Value
Economic Growth 0.21 % (2018)
GDP of 2010 USD USD 0.30 B. (2018)
GDP Current USD USD 0.40 B. (2018)
GDP per Capita Current USD USD 3,568 (2018)
GDP per capita, PPP USD 3,153 (2018)
GDP per Capita, 2010 USD USD 2,729 (2018)

Government spending and balances

Indicator Value
Government Spending % GDP
Government Spending
Government Debt % GDP 20.28 % (2018)

International Trade and Investment

Indicator Value
Terms of Trade Base Year 2000 112.41 (2018)
Trade Openness 100.85 % (2018)
Exports of Goods and Services % GDP 35.47 % (2018)
Exports Goods & Services USD 0.14 B. (2018)
Exports Annual Growth Micronesia
Imports as % GDP 65.38 % (2018)
Total Imports USD 0.26 B. (2018)
Foreign Direct Investment % GDP 6.33 % (2014)
Foreign Direct Investment USD 0.02 B. (2014)
Current Account Balance % GDP USD % (2018)
Current Account Balance USD B. (2018)
Trade Balance % GDP -29.90 % (2018)
Trade Balance USD B. (2018)
Foreign Exchange Reserves incl Gold USD 0.20 B. (2018)
Remittances % GDP 6.05 % (2018)
Remittances USD 22 M. (2014)
Balance of Payments USD 22 M. (2014)

Labor Market

Indicator Value
Labor Force
Unemployment Rate
Unemployment Rate Females
Unemployment Rate Males
Youth Unemployment (ages 15-24)
Labor Force Participation Rate USD 22 M. (2014)
Labor Force (Percent Female) USD 22 M. (2014)
Female Labor Force Participation Rate USD 22 M. (2014)
Male Labor Force Participation Rate USD 22 M. (2014)
Dependent People 55.53 % (2018)

Agriculture Sector

Indicator Value
Forest Area 91.90 % (2016)
Forest Area km² 643 km² (2016)
Agricultural Land 31.43 % (2016)
Agricultural Land km² 220 km² (2016)
Employment
Value added % GDP 22.51 % (2018)
Agriculture Value added USD 0.09 B. (2018)
Crop Production Index 100.20 (2016)
Precipitation 758 mm (2012)
Arable Land 3 % (2016)
Cereal Yield 1,661 kg/hectare (2017)
Food production index 101 (2016)
Rural Population 77 % (2018)
Fertilizer use of Arable Land 101 (2016)
Livestock Production Index 102 (2016)
Economy of Micronesia

According to the World Bank and its latest published data, the economy of the Micronesia presents a growth rate of 0.21 % (2018) to the previous year.

With a population that reaches 0.11 M (2018) and a gross domestic product of USD 0.40 B. (2018), it translates a Gross Domestic Product per Capita of USD 3,568 placing its inhabitants on the threshold of an Lower middle income country (according to the World Bank's updated classification).

Micronesia also has a workforce of with an unemployment rate of , where women represent and men , the unemployment rate for young people between 15-24 years old stood at . The total number of dependent people stands at 55.53 % (2018).

The central government spent of its gross domestic product that year, which in absolute terms is . Its consolidated public debt reached 20.28 of its GDP, not exceeding the 35% risk limit used by the European Union.

Regarding its international trade, Micronesia exported USD 0.14 B. (2018), which represents 35.47 % (2018) of its gross domestic product, in that same sense its imports reached USD 0.26 B. (2018) with a direct foreign investment of USD 0.02 B. (2014).

Micronesia has a forest area of 643 km² (2016), which represents 91.90 % (2016) of its total area, an average rainfall of 758 mm (2012) per year and a population of 77 % (2018) living in rural areas. With a total area of 220 km² (2016) available for agriculture and of its employments, the agricultural sector contributes to the economy of the Micronesia about USD 0.09 B. (2018) (22.51 % (2018) of its GDP).