Federated States of Micronesia: Economy
|
Income Level (by per capita GNI) Source: The World Bank Possible values: High Income, Upper Middle Income, Lower Middle Income and Low Income |
Lower Middle Income |
|
Level of Development
Source: United Nations Possible values: Developed, In Transition and Developing |
Data unavailable |
| 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 (2013): United States, Japan, and Australia |
| Top Industries Source: CIA World Factbook | Tourism; Construction; Fish Processing; Specialized Aquaculture |
Gross Domestic Product (GDP) [1]
| GDP, PPP (current international) | $440,113,591 (2022) |
| GDP Growth Rate (annual %) | -0.62% (2022) |
| GDP Per Capita, PPP (current international) | $3,855 (2022) |
GDP Country Rank 192/197 (2022)
Economic Indicators [1]
| Inflation, consumer prices (annual %) | 5.409% (2022) |
| External debt stocks, total (DOD, current US$) | Data unavailable |
| Total tax rate (% of commercial profits) | 60.5% (2019) |
| Real Interest Rate (5 year average %) | 10.101% (2021) |
| Manufacturing, value added (% of GDP) | 0.492% (2022) |
| Current Account Balance (BoP, current US$) | $22,407,600 (2014) |
Labor and Employment [1]
| Labor Force, Total | Data unavailable |
| Employment in Agriculture (% of total employment) | Data unavailable |
| Employment in Industry (% of total employment) | Data unavailable |
| Employment in Services (% of total employment) | Data unavailable |
| Unemployment Rate | Data unavailable |
Trade [1]
| Imports of goods and services (current US$) | $304,800,000 (2022) |
| Exports of goods and services (current US$) | $128,100,000 (2022) |
| Total Merchandise Trade (% of GDP) | 83.588% (2022) |
| FDI, net inflows (BoP, current US$) | $800,000 (2015) |
| Commercial Service Exports (current US$) | $33,420,500 (2014) |
Economic Snapshot [1]
Note: Percentile ranks are calculated using the latest available data for all countries within the last 5 years.
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.