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ECON FACTBOOK

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Economy of Micronesia

Population: 104 thousand in 20131

GDP: $335 million in 20132

GDP per capita: $3,054 nominal3 ($3,558 PPP4) in 2013

GDP growth rate: -4.0% in 20135

Industries

GDP by Industry 20126

Industry sectorValue added ($ millions) 2012Percent of total
Other activities12342.3%
Agriculture, hunting, forestry, fishing8027.7%
Wholesale, retail trade, restaurants and hotels4314.7%
Construction217.1%
Transport, storage and communication176.0%
Mining and utilities61.8%
Manufacturing10.5%
Total value added290100%

Employment

Unemployment rate: 22% in 20007

Employment by Industry 20118

Employment sectorPercent of total
Services78%
Industry21%
Agriculture1%
Total100%

Corporations

Top 10 Corporations by Revenue 20139

N/A (0 corporations on the Fortune Global 500 list)

Households

Household Wealth: N/A

Household Wealth per Adult: N/A

Gini Coefficient: .611 in 201310

Government

Central Government

Central Government Revenue: $107 million (32% of GDP) in 201011

Central Government Expenditure: $102 million (30% of GDP) in 201011

Central Government Budget Balance: +$5 million (+2% of GDP) in 201311

Central Government Public Debt: N/A

Central Government 10 Year Bond Interest Rate: N/A

Government Funds

N/A

Tax Structure

Individual Income Tax Rates and Thresholds: N/A

Corporate Tax Rate: N/A

Monetary Policy

Monetary Base (M0, United States): $3.99 trillion on Dec 24, 201412

Benchmark Interest Rate (United States): 0.25% on Dec 31 201413

Total Reserves: $84 million (25% of GDP) in 201314

Exchange Rate: 1 U.S. Dollar = 1 U.S. Dollar

Inflation: 3.4% in 201115

Financial Institutions

Top 10 Financial Institutions by Assets 201316

N/A (data not available at Relbanks.com)

International Accounts

Exports: $25 million (8% of GDP) in 201317

Imports: $133 million (40% of GDP) in 201317

Trade Balance: -$108 million (-32% of GDP) in 201317

Foreign Direct Investment Inflow: $2 million (0.5% of GDP) in 201318

Foreign Direct Investment Outflow: N/A

Foreign Aid Inflow: $115 million (34% of GDP) in 201219

Foreign Aid Outflow: N/A

References

1. Source: World Bank Indicators (Population) Go back
2. Source: World Bank Indicators (GDP) Go back
3. Source: World Bank Indicators (GDP per capita) Go back
4. Source: World Bank Indicators (GDP per capita PPP) Go back
5. Source: World Bank Indicators (GDP growth rate) Go back
6. Source: United Nations Statistics Division (GDP by industry) Go back
7. Source: CIA World Factbook (Unemployment rate) Go back
8. Source: CIA World Factbook (Employment by economic activity) Go back
9. Source: Annual reports (Corporate data) Go back
10. Source: UN Human Development Report (Gini coefficient) Go back
11. Source: CIA World Factbook (Government Budget) Go back
12. Source: Federal Reserve Bank of St. Louis (Monetary base) Go back
13. Source: Federal Reserve Bank of New York (Benchmark interest rate) Go back
14. Source: World Bank Indicators (Total reserves) Go back
15. Source: CIA World Factbook (Inflation rate) Go back
16. Source: Relbanks.com (Financial institutions by assets) Go back
17. Source: CIA World Factbook (Trade data) Go back
18. Source: World Bank Indicators (FDI data) Go back
19. Source: World Bank Indicators (Aid data) Go back