Nauru - Economy
How is the economy of Nauru? Based on the information we have, Nauru has a upper-middle-income Pacific island country; phosphate resource exhaustion made island interior uninhabitable; licenses fishing rights; houses Australia’s Regional Processing Centre; former tax haven; largely dependent on foreign subsidies. Key agricultural products in this country include: coconuts, tropical fruits, pork, eggs, pork offal, pork fat, chicken, papayas, vegetables, cabbages (2022).
More about the economy of Nauru
| Labor force | |
|---|---|
| Industrial production growth rate | 4.3% (2014 est.) |
| Industries | phosphate mining, offshore banking, coconut products |
| Population below poverty line | |
| Taxes and other revenues | 44.35% (of GDP) (2020 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 2018 | $8.406 million (2018 est.) |
| Current account balance 2017 | $14.11 million (2017 est.) |
| Current account balance 2016 | $2.079 million (2016 est.) |
| Public debt | |
| Public debt 2017 | 62% of GDP (2017 est.) |
| Budget | |
| Revenues | $199.728 million (2020 est.) |
| Expenditures | $132.607 million (2020 est.) |
| Budget surplus (+) or deficit (-) | |
| Remittances | |
| Remittances 2018 | 4.99% of GDP (2018 est.) |
| Remittances 2017 | 9.46% of GDP (2017 est.) |
| Remittances 2016 | 12.04% of GDP (2016 est.) |
| Imports | |
| Imports 2021 | $94.2 million (2021 est.) |
| Imports 2020 | $103 million (2020 est.) |
| Imports 2019 | $88.2 million (2019 est.) |
| Imports (partners) | Australia 47%, China 17%, Japan 12%, Fiji 11%, NZ 2% (2022) |
| Comodities Imports force | ships, plastic products, other foods, cars, refined petroleum (2022) |
| Exports | |
| Imports 2021 | $94.2 million (2021 est.) |
| Imports 2020 | $103 million (2020 est.) |
| Imports 2019 | $88.2 million (2019 est.) |
| Exports (partners) | Thailand 59%, Philippines 19%, South Korea 11%, India 3%, Japan 2% (2022) |
| Comodities Exports force | fish, phosphates, gas turbines, power equipment, plastic products (2022) |
| Real GDP (purchasing power parity) | |
| Real GDP (purchasing power parity) 2023 | $145.958 million (2023 est.) |
| Real GDP (purchasing power parity) 2022 | $144.937 million (2022 est.) |
| Real GDP (purchasing power parity) 2021 | $141.875 million (2021 est.) |
| GDP (official exchange rate) | $154.128 million (2023 est.) |
| Real GDP Per capita | |
| Real GDP per capita 2023 | $11,400 (2023 est.) |
| Real GDP per capita 2022 | $11,400 (2022 est.) |
| Real GDP per capita 2021 | $11,300 (2021 est.) |
| GDP - composition, by end use | |
| Exports of goods and services | 54.7% (2022 est.) |
| Imports of goods and services | -113.2% (2022 est.) |
All Important Facts about Nauru
Want to know more about Nauru? Check all different factbooks for Nauru below.
