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%.
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.
Nauru GDP from 2004 to 2024
The total market value of goods and services produced annually in Nauru.
Data Source: International Monetary Fund
Image Source: Freepik from www.flaticon.com
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 |
