Kiribati - Economy
How is the economy of Kiribati? Based on the information we have, Kiribati has a lower-middle income, Pacific island economy; environmentally fragile; sizable remittances; key phosphate mining fund; tourism and fishing industries; public sector-dominated economy; recent withdrawal from Pacific Islands Forum; ongoing constitutional crisis. Key agricultural products in this country include: coconuts, bananas, vegetables, taro, tropical fruits, pork, chicken, nuts, eggs, pork offal (2022).
More about the economy of Kiribati
Labor force
Industrial production growth rate 21.11% (2021 est.)
Industries fishing, handicrafts
Population below poverty line 21.9% (2020 est.)
Taxes and other revenues 20.22% (of GDP) (2022 est.)
Fiscal year
Exchange rates
Currency Australian dollars (AUD) per US dollar -
Exchange rates 2023 1.505 (2023 est.)
Exchange rates 2022 1.442 (2022 est.)
Exchange rates 2021 1.331 (2021 est.)
Exchange rates 2020 1.453 (2020 est.)
Exchange rates 2019 1.439 (2019 est.)
Current account balance
Current account balance 2022 -$6.46 million (2022 est.)
Current account balance 2021 $20.251 million (2021 est.)
Current account balance 2020 $71.279 million (2020 est.)
Public debt
Public debt 2017 26.3% of GDP (2017 est.)
Budget
Revenues $213.334 million (2022 est.)
Expenditures $221.12 million (2022 est.)
Budget surplus (+) or deficit (-)
Remittances
Remittances 2023 5.38% of GDP (2023 est.)
Remittances 2022 10.48% of GDP (2022 est.)
Remittances 2021 4.62% of GDP (2021 est.)
Household income
Lowest 10% 4% (2019 est.)
Highest 10% 22.9% (2019 est.)
Imports
Imports 2022 $254.438 million (2022 est.)
Imports 2021 $201.984 million (2021 est.)
Imports 2020 $148.77 million (2020 est.)
Imports (partners) Taiwan 25%, China 22%, Fiji 13%, Australia 9%, South Korea 7% (2022)
Comodities Imports force ships, refined petroleum, rice, twine and rope, prepared meat (2022)
Exports
Imports 2022 $254.438 million (2022 est.)
Imports 2021 $201.984 million (2021 est.)
Imports 2020 $148.77 million (2020 est.)
Exports (partners) Thailand 55%, Philippines 15%, Japan 10%, Indonesia 8%, South Korea 4% (2022)
Comodities Exports force fish, ships, coconut oil, copra, raw sugar (2022)
Real GDP (purchasing power parity)
Real GDP (purchasing power parity) 2023 $423.828 million (2023 est.)
Real GDP (purchasing power parity) 2022 $406.41 million (2022 est.)
Real GDP (purchasing power parity) 2021 $391.315 million (2021 est.)
GDP (official exchange rate) $279.034 million (2023 est.)
Real GDP Per capita
Real GDP per capita 2023 $3,200 (2023 est.)
Real GDP per capita 2022 $3,100 (2022 est.)
Real GDP per capita 2021 $3,000 (2021 est.)
GDP - composition, by sector of origin
Agriculture 23% (2016 est.)
Industry 7% (2016 est.)
Services 70% (2016 est.)
GDP - composition, by end use
Exports of goods and services 7.4% (2023 est.)
Imports of goods and services -92.5% (2023 est.)
Youth unemployment rate (ages 15-24)
Total 22.5% (2019 est.)
Male 21.2%
Female 24.6%
All Important Facts about Kiribati

Want to know more about Kiribati? Check all different factbooks for Kiribati below.

Kiribati is found in Micronesia