Nauru's GDP changed from approximately $31M in 2004 to $161M in 2024, showing an overall 419.4% sharply increased during the period.
The lowest GDP was recorded in 2007 at $23M, and the highest in 2021 at $176M.
Over the 20-year span, the GDP showed a overall increase with some decline trend, with an average annual growth rate of 8.6%.
For comparison, the average annual growth rate of Kiribati was 5.2%, and that of Tuvalu was 6.4%.
Nauru GDP from 2004 to 2024
The total market value of goods and services produced annually in Nauru.
Overview of Nauru's GDP (2004–2024)
The Gross Domestic Product (GDP) of Nauru recorded a 419.4% sharply increased from 2004 to 2024.
The average GDP during this period was $91M 380K, and the median was $97M.
GDP fluctuated within a range of $153M, with a standard deviation of $48M 953K.
The average annual change was $7M 615K.
Highest and Lowest GDP Records
- Lowest GDP: 2007, $23M
- Highest GDP: 2021, $176M
- Most Recent GDP: 2024, $161M
Notable Annual GDP Changes
- 2021: Significant increase in GDP
- 2022: Noticeable drop in GDP
Overall pattern: overall increase with some decline
Global Economic Events and Nauru's GDP
COVID-19 Pandemic (2020)
- Period: From 2019 to 2020
- GDP Change: $125M → $125M
- Outcome: remained stable
2008 Global Financial Crisis
- Period: From 2007 to 2009
- GDP Change: $23M → $44M
- Outcome: sharply increased
2001 Dot-com Bubble Burst
- Period: From 2000 to 2001
- GDP Change: $0 → $0
- Outcome: remained stable
1998 Asian Financial Crisis
- Period: From 1997 to 1998
- GDP Change: $0 → $0
- Outcome: remained stable
Key Economic Indicators of Nauru (2004–2024)
| year | Nominal GDP | GDP per Capita | PPP per Capita | PPP GDP | GDP Growth | Current Account | Savings | Fiscal Balance | Population |
|---|---|---|---|---|---|---|---|---|---|
2004 | $ 31M | $ 3,066.93 | $ 3,127.40 | $ 31M | 0 % | 0 % | 0 % | 0 % | 10,000 people |
2005 | $ 30M | $ 3,053.02 | $ 2,981.18 | $ 30M | -8.433 % | 0 % | 0 % | 0 % | 10,000 people |
2006 | $ 29M | $ 3,144.74 | $ 2,988.56 | $ 28M | -9.045 % | 0 % | 0 % | 0 % | 9,000 people |
2007 | $ 23M | $ 2,509.32 | $ 2,959.23 | $ 27M | -4.509 % | 0 % | 0 % | 0 % | 9,000 people |
2008 | $ 37M | $ 3,982.19 | $ 5,245.15 | $ 49M | 76.864 % | 53.407 % | 0 % | 0 % | 9,000 people |
2009 | $ 44M | $ 4,630.94 | $ 4,896.16 | $ 47M | -5.652 % | 64.134 % | 0 % | 0 % | 10,000 people |
2010 | $ 48M | $ 4,813.33 | $ 4,770.26 | $ 47M | -0.16 % | 47.865 % | 0 % | 0 % | 10,000 people |
2011 | $ 66M | $ 6,521.17 | $ 5,466.68 | $ 55M | 14.395 % | 28.824 % | 0 % | 0 % | 10,000 people |
2012 | $ 101M | $ 10,005.18 | $ 6,957.48 | $ 70M | 25.279 % | 34.403 % | 0 % | 0 % | 10,000 people |
2013 | $ 94M | $ 8,975.70 | $ 7,026.42 | $ 74M | 3.648 % | 51.567 % | 0 % | 0 % | 11,000 people |
2014 | $ 99M | $ 8,630.43 | $ 7,645.98 | $ 88M | 16.423 % | 29.012 % | 0 % | 0 % | 11,000 people |
2015 | $ 85M | $ 7,090.71 | $ 7,580.59 | $ 91M | 2.698 % | -19.63 % | 0 % | 0 % | 12,000 people |
2016 | $ 97M | $ 7,825.37 | $ 7,681.72 | $ 96M | 4.363 % | 4.194 % | 0 % | 0 % | 12,000 people |
2017 | $ 109M | $ 8,550.69 | $ 7,178.98 | $ 92M | -6.011 % | 12.41 % | 0 % | 0 % | 13,000 people |
2018 | $ 131M | $ 10,582.21 | $ 7,461.97 | $ 92M | -1.219 % | 7.595 % | 0 % | 0 % | 12,000 people |
2019 | $ 125M | $ 10,567.41 | $ 8,619.52 | $ 102M | 8.487 % | 4.6 % | 0 % | 0 % | 12,000 people |
2020 | $ 125M | $ 10,346.10 | $ 8,735.84 | $ 105M | 1.982 % | 2.527 % | 0 % | 0 % | 12,000 people |
2021 | $ 176M | $ 14,303.43 | $ 9,607.12 | $ 118M | 7.207 % | 3.797 % | 0 % | 0 % | 12,000 people |
2022 | $ 154M | $ 12,268.58 | $ 10,372.95 | $ 130M | 2.841 % | -0.541 % | 0 % | 0 % | 13,000 people |
2023 | $ 154M | $ 12,037.89 | $ 10,607.73 | $ 136M | 0.596 % | 3.449 % | 0 % | 0 % | 13,000 people |