Micronesia GDP Trends from 1995 to 2024: A overall increase with some decline Flow

Micronesia's GDP changed from approximately $220M in 1995 to $484M in 2024, showing an overall 120.0% sharply increased during the period.
The lowest GDP was recorded in 1997 at $204M, and the highest in 2024 at $484M.
Over the 29-year span, the GDP showed a overall increase with some decline trend, with an average annual growth rate of 2.8%.
For comparison, the average annual growth rate of Marshall Islands was 3.8%, and that of Palau was 3.0%.

Overview of Micronesia's GDP (1995–2024)

The Gross Domestic Product (GDP) of Micronesia recorded a 120.0% sharply increased from 1995 to 2024.
The average GDP during this period was $300M, and the median was $283M.
GDP fluctuated within a range of $280M, with a standard deviation of $78M 582K.
The average annual change was $8M 491K.


Micronesia GDP from 1995 to 2024

The total market value of goods and services produced annually in Micronesia.

Change Chart

    Highest and Lowest GDP Records

    • Lowest GDP: 1997, $204M
    • Highest GDP: 2024, $484M
    • Most Recent GDP: 2024, $484M

    Notable Annual GDP Changes

    • 2022: Significant increase in GDP
    • 2020: Noticeable drop in GDP

    Overall pattern: overall increase with some decline


    Global Economic Events and Micronesia's GDP

    COVID-19 Pandemic (2020)

    • Period: From 2019 to 2020
    • GDP Change: $394M → $372M
    • Outcome: declined

    2008 Global Financial Crisis

    • Period: From 2007 to 2009
    • GDP Change: $252M → $275M
    • Outcome: increased

    2001 Dot-com Bubble Burst

    • Period: From 2000 to 2001
    • GDP Change: $230M → $236M
    • Outcome: increased

    1998 Asian Financial Crisis

    • Period: From 1997 to 1998
    • GDP Change: $204M → $217M
    • Outcome: increased

    Key Economic Indicators of Micronesia (1995–2024)

    yearNominal GDPGDP per CapitaPPP per CapitaPPP GDPGDP GrowthCurrent AccountSavingsFiscal BalancePopulation
    1995
    $ 220M
    $ 2,079.64
    $ 2,043.79
    $ 216M
    0 %
    -9.243 %
    0 %
    2.621 %
    106,000 people
    1996
    $ 217M
    $ 2,042.84
    $ 2,006.99
    $ 213M
    -3.339 %
    -19.516 %
    0 %
    5.011 %
    106,000 people
    1997
    $ 204M
    $ 1,923.70
    $ 1,910.29
    $ 203M
    -6.211 %
    -31.544 %
    0 %
    5.021 %
    106,000 people
    1998
    $ 217M
    $ 2,033
    $ 1,981.89
    $ 211M
    2.837 %
    -25.498 %
    0 %
    -1.654 %
    107,000 people
    1999
    $ 217M
    $ 2,034.56
    $ 2,027.82
    $ 216M
    1.129 %
    -21.368 %
    0 %
    -3.93 %
    107,000 people
    2000
    $ 230M
    $ 2,145.79
    $ 2,164.53
    $ 232M
    4.625 %
    -14.915 %
    0 %
    -2.727 %
    107,000 people
    2001
    $ 236M
    $ 2,215.08
    $ 2,259.68
    $ 241M
    1.82 %
    -17.816 %
    0 %
    -5.289 %
    107,000 people
    2002
    $ 238M
    $ 2,233.03
    $ 2,311.26
    $ 246M
    0.443 %
    -10.259 %
    0 %
    7.512 %
    106,000 people
    2003
    $ 241M
    $ 2,270.19
    $ 2,405
    $ 255M
    1.763 %
    -6.102 %
    0 %
    2.846 %
    106,000 people
    2004
    $ 236M
    $ 2,225.29
    $ 2,397.44
    $ 254M
    -3.19 %
    -18.833 %
    0 %
    -15.403 %
    106,000 people
    2005
    $ 246M
    $ 2,329.63
    $ 2,536.80
    $ 268M
    2.314 %
    -10.279 %
    0 %
    -5.478 %
    106,000 people
    2006
    $ 249M
    $ 2,367.17
    $ 2,623.31
    $ 275M
    -0.199 %
    -15.801 %
    0 %
    -5.29 %
    105,000 people
    2007
    $ 252M
    $ 2,412.27
    $ 2,661.70
    $ 278M
    -1.724 %
    -10.889 %
    0 %
    -3.378 %
    104,000 people
    2008
    $ 258M
    $ 2,483.69
    $ 2,656.68
    $ 276M
    -2.583 %
    -19.287 %
    0 %
    -1.334 %
    104,000 people
    2009
    $ 275M
    $ 2,656.61
    $ 2,716.61
    $ 281M
    1.098 %
    -21.578 %
    0 %
    2.19 %
    103,000 people
    2010
    $ 291M
    $ 2,826.04
    $ 2,821.24
    $ 290M
    2.066 %
    -17.922 %
    0 %
    0.749 %
    103,000 people
    2011
    $ 307M
    $ 2,960.26
    $ 2,965.43
    $ 307M
    3.784 %
    -19.547 %
    0 %
    -0.243 %
    104,000 people
    2012
    $ 323M
    $ 3,107.84
    $ 2,962.63
    $ 308M
    -1.694 %
    -13.747 %
    0 %
    1.229 %
    104,000 people
    2013
    $ 313M
    $ 3,012.69
    $ 2,903.64
    $ 301M
    -3.676 %
    -10.081 %
    0 %
    3.323 %
    104,000 people
    2014
    $ 314M
    $ 3,033.93
    $ 2,887.16
    $ 299M
    -2.586 %
    6.212 %
    0 %
    11.686 %
    103,000 people