Its overall score has increased by 0.1 point due to a higher property rights score. The Trading Economics Application Programming Interface (API) provides direct access to our data. The GDP per capita PPP is obtained by dividing the country’s gross domestic product, adjusted by purchasing power parity, by the total population. The eastern four island groups (Pohnpei, Chuuk, Yap, and Kosrae) adopted a constitution in 1979 and became the Federated States of Micronesia. Micronesia gdp per capita for 2017 was $3,290, a 9.12% increase from 2016. Data are in constant local currency.Source: World Bank national accounts data, and OECD National Accounts data files.The latest value for GDP per capita, PPP (current international $) in Micronesia was 3,553 as of 2018. Over the past 28 years, the value for this indicator has fluctuated between 3,422 in 2011 and 2,729 in 1990.Definition: GDP per capita based on purchasing power parity (PPP). 1986-2018 Data | 2019-2020 Forecast | Historical | ChartDownload historical data for 20 million indicators using your browser.Direct access to our calendar releases and historical data.
Therefore, these figures should be used with caution.
note: data are in 2017 dollars country comparison to the world (CIA rank, may be based on non-current data): 189 [see also: GDP - per capita country ranks] [see also: GDP - per capita country ranks] GDP per capita (current US$) - Micronesia, Fed. The overall tax burden equals 13.0 percent of total domestic income.
It is calculated without making deductions for depreciation of fabricated assets or for depletion and degradation of natural resources. PPP GDP is gross domestic product converted to international dollars using purchasing power parity rates. That is particularly alarming given the exceedingly large percentage of the workforce that is employed directly by the government.The widely scattered Caroline Islands in the southwestern Pacific Ocean were part of a U.N. Trust Territory under U.S. administration after World War II. This page provides - Micronesia Gdp Per Capita- actual values, historical data, forecast, chart, statistics, economic calendar and news.
GDP at purchaser's prices is the sum of gross value added by all resident producers in the economy plus any product taxes and minus any subsidies not included in the value of the products. It allows API clients to download millions of rows of historical data, to query our real-time economic calendar, subscribe to updates and receive quotes for currencies, commodities, stocks and bonds. Constant 2010 USD GDP per capita is gross domestic product divided by midyear population. Data are in current local currency.Source: World Bank national accounts data, and OECD National Accounts data files.The latest value for GDP per capita (constant 2010 US$) in Micronesia was 2,729 as of 2018. GDP is the sum of gross value added by all resident producers in the economy plus any product taxes and minus any subsidies not included in the value of the products. GDP per capita is often considered an indicator of a country's standard of living; although this is problematic because GDP per capita is not a measure of personal income. There is no system for land title insurance. GDP per capita (current LCU) The value for GDP per capita (current LCU) in Micronesia was 3,568 as of 2018. GDP per capita of Micronesia (Federated States of) increased from 2,194.77 current prices in 2000 to 3,583.73 current prices in 2019 growing at an average annual rate of 2.64%. The undeveloped investment framework does not facilitate vibrant flows of investment. Economic expansion during the past five years has been unexceptional.The lack of economic freedom in Micronesia is partly the legacy of its long-time dependence, which has had an enervating and debilitating impact on entrepreneurship and economic initiative. Data are in constant 2011 international dollars.Source: World Bank, International Comparison Program database.
Micronesia … The average applied tariff rate is 7.1 percent, and layers of nontariff barriers undercut trade flows. GDP at purchaser's prices is the sum of gross value added by all resident producers in the economy plus any product taxes and minus any subsidies not included in the value of the products. The government employs over two-thirds of the adult working population; has monopolies in fuel, telecommunications, and copra production; and is heavily dependent on U.S. subsidies.The total value of exports and imports of goods and services equals 99.0 percent of GDP.
note: GDP is supplemented by grant aid, averaging perhaps $100 million annually
Data are in current international dollars based on the 2011 ICP round.Source: World Bank, International Comparison Program database.The latest value for GDP per capita, PPP (constant 2011 international $) in Micronesia was 3,153 as of 2018.
An international dollar has the same purchasing power over GDP as the U.S. dollar has in the United States. Official corruption is a problem, but there is no government agency that is specifically assigned to combat corruption.Tax laws are administered and enforced erratically.
See how Micronesia compares to another country using any of the measures in the Index.Micronesia’s economic freedom score is 52.0, making its economy the 156th freest in the 2020 Index. The judiciary is independent, but it is also slow and weak and lacks the ability to enforce judgments properly. Its overall score has increased by 0.1 point due to a higher property rights score. Public debt is equivalent to 20.2 percent of GDP.Decreasing Micronesia’s dependence on grants and aid from the U.S. will require invigoration of the small and stagnant private sector.
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