Ivan Kushnir

Economy of Micronesia Ivan Kushnir

This book about the economy of Micronesia from the 1970s to the 2010s. Source data from UN Data.

Size. In the 2010s, the gross domestic product of Micronesia was equal to $1.1 billion per year; the value of agriculture was $178.6 million; the value of manufacturing was $39.8 million.

Productivity. In the 2010s, the GDP per capita was $3 554.6, the value of agriculture per capita was $587.6, the value of manufacturing per capita was $131.1. Since the productivity is less the average below average, the economy is classified as least developed.

Growth. In the 2010s, the growth of gross domestic product was 2.8%; the growth of agriculture was 2.3%; the growth of manufacturing was 4.4%.

Structure. In the 2010s, the economy of Micronesia consisted of: services (42.8%), agriculture (17.3%), trade (17.0%), transportation (9.6%), industry (8.1%), and construction (5.2%).

Export and import. In the 2010s, the import was 2.6 times higher than the export, the net import was equal to 52.8% of the GDP.

Consumption and reproduction. The attitude of reproduction to the consumption is not better than the global average, so the share of GDP in the world will not increase.