Federated States of Micronesia: Economy

Economic Trivia

The national and state governments of the country employ over half of its workforce.

Trade Source: United Nations Comtrade
Note: Top 3 trade partners are calculated by imports + exports.

Top 3 Trade Partners: Data unavailable
Top 3 Exported Goods (2013): Seafood, Fruit & Nuts, and Oil Seeds

Top Industries Source: CIA World Factbook

Tourism; Construction; Fish Processing; Specialized Aquaculture

Gross Domestic Product (GDP) Source: The World Bank

GDP, PPP (current international) $346,520,938 (2014)
GDP Growth Rate (annual %) -3.403% (2014)
GDP Per Capita, PPP (current international) $3,331 (2014)
Click on a row to display its 5-year graph on the right.

GDP Country Rank 189/193 (2014)

Economic Indicators Source: The World Bank

Inflation, consumer prices (annual %) Data unavailable
External debt stocks, total (DOD, current US$) Data unavailable
Total tax rate (% of commercial profits) 60.5% (2015)
Real Interest Rate (5 year average %) 13.688% (2013)
Manufacturing, value added (% of GDP) 0.383% (2014)
Current Account Balance (BoP, current US$) ($31,600,356) (2013)
Click on a row to display its 5-year graph on the right.

Labor and Employment Source: The World Bank

Labor Force, Total Data unavailable
Employment in Agriculture (% of total employment) Data unavailable
Employment in Industry (% of total employment) Data unavailable
Employment in Services (% of total employment) Data unavailable
Unemployment Rate Data unavailable
Click on a row to display its 5-year graph on the right.
Imports of goods and services (current US$) $89,800,000 (1983)
Exports of goods and services (current US$) $3,600,000 (1983)
Total Merchandise Trade (% of GDP) 78.913% (2014)
FDI, net inflows (BoP, current US$) $800,000 (2014)
Commercial Service Exports (current US$) $35,942,660 (2013)
Click on a row to display its 5-year graph on the right.

How to interpret the graph: The purpose of this graph is to take a snapshot of a country’s economy in comparison to other economies. For example, Federated States of Micronesia’s Exports rank is higher than (please wait...) of the countries in the dataset. For Exports, FDI and GDP measures, a higher rank (closer to 100%) indicates a stronger economy. Conversely, for Unemployment and Inflation, a lower rank (closer to 0%) indicates a stronger economy.

Due to unavailable data the following indicators have been omitted:
  • Exports
  • FDI, net inflows
  • GDP Growth Rate
  • GDP Per Capita
  • Inflation
  • Unemployment

Glossary