[ Nominal GDP in billion of USD ]
Year -
$0.47 billion
Micronesia GDP expanded from 1970 to 2024, increasing from $0.02 billion to $0.47 billion.The compound annual growth rate (CAGR) averaged 6.02% over the period. The economy recorded its peak level in 2024 and its lowest level in 1970. Growth volatility remained high. The maximum drawdown reached 9.09%, indicating the largest cyclical decline from peak levels. The country experienced 5 recession episode(s) during the observed period.
| Metric | Nominal GDP (Current USD) | GDP (PPP, Int$) |
|---|---|---|
| Latest Year | 2024 | 2024 |
| Latest GDP | $ 0.47 Billions | $ 0.49 Int Billions |
| Growth (YoY) | 6.785% | 3.154% |
| Net Change vs Previous Year | $ 0.03 Billion | $ 0.02 Int Billion |
| % of World GDP | 0.00% | 0.00% |
| Meaning | Nominal GDP (Current USD, exchange-rate based) | GDP (PPP, cost-of-living adjusted) |
| Nominal | PPP | |||||
|---|---|---|---|---|---|---|
| Year | Bil $ | Net Chg | % Chg | Int Bil $ | Net Chg | % Chg |
| 1960 | - | - | - | - | - | - |
| 1961 | - | - | - | - | - | - |
| 1962 | - | - | - | - | - | - |
| 1963 | - | - | - | - | - | - |
| 1964 | - | - | - | - | - | - |
| 1965 | - | - | - | - | - | - |
| 1966 | - | - | - | - | - | - |
| 1967 | - | - | - | - | - | - |
| 1968 | - | - | - | - | - | - |
| 1969 | - | - | - | - | - | - |
| 1970 | 0.02 | - | - | - | - | - |
| 1971 | 0.02 | 0 | 9.541 % | - | - | - |
| 1972 | 0.03 | 0 | 15.231 % | - | - | - |
| 1973 | 0.03 | 0.01 | 38.726 % | - | - | - |
| 1974 | 0.05 | 0.01 | 32.376 % | - | - | - |
| 1975 | 0.05 | 0 | 0.052 % | - | - | - |
| 1976 | 0.05 | 0 | 1.505 % | - | - | - |
| 1977 | 0.05 | 0 | 1.052 % | - | - | - |
| 1978 | 0.05 | 0.01 | 13.426 % | - | - | - |
| 1979 | 0.06 | 0.01 | 12.326 % | - | - | - |
| 1980 | 0.06 | 0 | 6.497 % | - | - | - |
| 1981 | 0.08 | 0.01 | 19.141 % | - | - | - |
| 1982 | 0.08 | 0 | 4.686 % | - | - | - |
| 1983 | 0.08 | 0 | 5.065 % | - | - | - |
| 1984 | 0.08 | 0 | 0.673 % | - | - | - |
| 1985 | 0.1 | 0.02 | 20.379 % | - | - | - |
| 1986 | 0.11 | 0.01 | 10.083 % | - | - | - |
| 1987 | 0.12 | 0 | 4.001 % | - | - | - |
| 1988 | 0.12 | 0.01 | 6.855 % | - | - | - |
| 1989 | 0.14 | 0.01 | 8.42 % | - | - | - |
| 1990 | 0.15 | 0.01 | 8.876 % | 0.17 | - | - |
| 1991 | 0.17 | 0.02 | 12.908 % | 0.19 | 0.02 | 11.06 % |
| 1992 | 0.18 | 0.01 | 7.16 % | 0.2 | 0.01 | 6.378 % |
| 1993 | 0.2 | 0.02 | 11.398 % | 0.22 | 0.02 | 10.704 % |
| 1994 | 0.2 | 0 | 2.067 % | 0.22 | 0 | 1.589 % |
| 1995 | 0.22 | 0.02 | 8.607 % | 0.25 | 0.02 | 9.258 % |
| 1996 | 0.22 | 0 | -1.539 % | 0.24 | 0 | -1.569 % |
| 1997 | 0.2 | -0.01 | -5.61 % | 0.23 | -0.01 | -4.594 % |
| 1998 | 0.22 | 0.01 | 5.931 % | 0.24 | 0.01 | 3.993 % |
| 1999 | 0.22 | 0 | 0.313 % | 0.25 | 0.01 | 2.56 % |
| 2000 | 0.23 | 0.01 | 5.717 % | 0.26 | 0.02 | 6.995 % |
| 2001 | 0.24 | 0.01 | 2.949 % | 0.27 | 0.01 | 4.113 % |
| 2002 | 0.24 | 0 | 0.536 % | 0.28 | 0.01 | 2.004 % |
| 2003 | 0.24 | 0 | 1.387 % | 0.29 | 0.01 | 3.772 % |
| 2004 | 0.24 | -0.01 | -2.246 % | 0.29 | 0 | -0.587 % |
| 2005 | 0.25 | 0.01 | 4.401 % | 0.3 | 0.02 | 5.522 % |
| 2006 | 0.25 | 0 | 1.089 % | 0.31 | 0.01 | 2.879 % |
| 2007 | 0.25 | 0 | 1.379 % | 0.32 | 0 | 0.939 % |
| 2008 | 0.26 | 0.01 | 2.426 % | 0.31 | 0 | -0.707 % |
| 2009 | 0.27 | 0.02 | 6.404 % | 0.32 | 0.01 | 1.722 % |
| 2010 | 0.29 | 0.02 | 5.82 % | 0.33 | 0.01 | 3.307 % |
| 2011 | 0.31 | 0.02 | 5.56 % | 0.35 | 0.02 | 5.925 % |
| 2012 | 0.32 | 0.02 | 5.228 % | 0.35 | 0 | 0.136 % |
| 2013 | 0.31 | -0.01 | -3.107 % | 0.34 | -0.01 | -2.037 % |
| 2014 | 0.31 | 0 | 0.379 % | 0.34 | 0 | -0.889 % |
| 2015 | 0.31 | 0 | -1.216 % | 0.36 | 0.02 | 5.403 % |
| 2016 | 0.33 | 0.01 | 4.78 % | 0.36 | 0.01 | 1.902 % |
| 2017 | 0.36 | 0.03 | 10.462 % | 0.38 | 0.01 | 4.006 % |
| 2018 | 0.39 | 0.03 | 9.192 % | 0.39 | 0.01 | 2.291 % |
| 2019 | 0.39 | 0 | 0.51 % | 0.41 | 0.02 | 5.799 % |
| 2020 | 0.37 | -0.02 | -5.355 % | 0.41 | 0 | -0.366 % |
| 2021 | 0.39 | 0.02 | 5.014 % | 0.44 | 0.03 | 7.807 % |
| 2022 | 0.42 | 0.02 | 6.219 % | 0.46 | 0.02 | 4.016 % |
| 2023 | 0.44 | 0.03 | 6.133 % | 0.48 | 0.02 | 4.068 % |
| 2024 | 0.47 | 0.03 | 6.785 % | 0.49 | 0.02 | 3.154 % |
Between 1970 to 2024, Micronesia experienced the following economic phases:
The most remarkable growth occurred in 1973 with an increase of 38.726%, while the largest decline was in 1997 at -5.61%.