27:
142:
134:
79:
71:
386:
programs upon the
Compact's financial provisions' expiry in 2001, the Government of the FSM in 1996 began to implement a program of economic reforms designed to reduce the role of the public sector in the economy. In addition, the advent of music startups using .fm domain names has provided a new, albeit fairly small, stream of revenue to the government.
728:
417:
Farming is mainly subsistence, and its importance is declining. The principal crops are coconuts, bananas, betel nuts, cassava, and sweet potatoes. Less than 10% of the formal labor force and less than 7% of export revenue come from the agriculture sector. Manufacturing activity is modest, consisting
394:
The fishing industry is highly important. Foreign commercial fishing fleets pay over $ 20 million annually for the right to operate in FSM territorial waters. These licensing fees account for nearly 30% of domestic budgetary revenue. Additionally, exports of marine products, mainly reexports of fish
434:
The large inflow of official assistance to FSM allows it to run a substantial trade deficit and to have a much lighter tax burden than other states in the region (11% of GDP in FSM compared to 18–25% elsewhere). The government also borrowed against future
Compact disbursements in the early 1990s,
385:
plays a central role in the economy as the administrator of the
Compact money. The national and state-level governments employ over one-half of the country's workers and provide services accounting for more than 40% of GDP. Faced with the potential decrease or cessation of some of the assistance
361:
deposits worth exploiting, except for high-grade phosphate. The potential for a tourist industry exists, but the remoteness of the location and a lack of adequate facilities hinder development. Financial assistance from the US is the primary source of revenue, with the US pledged to spend $ 1.3
769:
373:
provided FSM with around $ 2 billion in grants and services from 1986 to 2001. The
Compact's financial terms are being renegotiated for an extension period. In 2001 the U.S. provided more than $ 84 million in Compact grants—an amount equivalent to over one-third of FSM's
378:—plus more than $ 20 million through other federal programs. Total official development assistance from all sources was more than $ 100 million in 2001, with nearly 90% of that total coming from the U.S.
1058:
402:
is present but has been hampered by a lack of infrastructure. Visitor attractions include scuba diving in each state, World War II battle sites, and the ancient ruined city of
696:$ 64 million (2010); note - under terms of the Compact of Free Association, the US will provide $ 1.3 billion in grant aid during the period 1986-2001
362:
billion in the islands in 1986–2001. Geographical isolation and a poorly developed infrastructure are major impediments to long-term growth.
287:
97:
1016:
346:
824:
774:
366:
1043:
964:
950:
936:
922:
908:
894:
880:
866:
852:
838:
810:
796:
317:
269:
350:
146:
83:
732:
411:
375:
61:
703:
333:
172:
37:
187:
991:
200:
561:
1020:
1052:
655:
436:
382:
370:
619:
603:
45:
554:$ 134 million; including capital expenditures of $ 17.9 million (FY05 est.)
414:
has identified tourism as one of FSM's highest potential growth industries.
403:
168:
462:
GDP is supplemented by grant aid, averaging perhaps $ 100 million annually
26:
737:
995:
627:
615:
611:
607:
423:
407:
399:
358:
354:
642:
443:
979:
663:
651:
565:
659:
743:
623:
419:
162:
Agriculture: 26.3% Industry: 18.9% Services: 54.8% (2017 est.)
678:
food, manufactured goods, machinery and equipment, beverages
980:"Pacific Island Nations: How Viable Are Their Economies?"
410:. Some 15,000 tourists visit the islands each year. The
1044:
CIA World
Factbook - Micronesia, Federated States of
504:
Household income or consumption by percentage share:
457:
purchasing power parity - $ 277 million (2002 est.)
395:
to Japan, account for nearly 85% of export revenue.
315:
307:
299:
285:
280:
267:
259:
251:
246:
238:
222:
212:
198:
183:
166:
156:
123:
104:
93:
60:
55:
43:
33:
770:"World Economic Outlook Database, October 2019"
825:"Gini index (World Bank estimate) | Data"
474:purchasing power parity - $ 3 900 (2002 est.)
1059:Economy of the Federated States of Micronesia
8:
439:of $ 111 million in 1997 (over 50% of GDP).
332:All values, unless otherwise stated, are in
16:
764:
762:
760:
758:
756:
754:
549:$ 157.5 million ($ 74 million less grants
750:
15:
418:mainly of the export of betel nut in
7:
564:, craft items from shell, wood, and
533:two-thirds are government employees
672:$ 82.5 million f.o.b. (2010 est.)
635:$ 123 million (f.o.b., 2000 est.)
606:, tropical fruits and vegetables,
571:Industrial production growth rate:
19:the Federated States of Micronesia
14:
519:Inflation rate (consumer prices):
731: This article incorporates
726:
141:
140:
133:
132:
78:
77:
70:
69:
25:
422:and production of buttons from
74:$ 0.372 billion (nominal, 2018)
498:Population below poverty line:
347:Federated States of Micronesia
1:
345:The economic activity of the
684:US, Australia, Japan (2010)
531:Labor force - by occupation:
478:GDP - composition by sector:
775:International Monetary Fund
367:Compact of Free Association
311:$ 192.1 Million (2013 est.)
303:$ 213.8 Million (2013 est.)
263:$ 167.8 Million (2015 est.)
255:$ 39.88 Million (2015 est.)
1075:
978:Hezel, Francis X. (2012).
583:Electricity - consumption:
276:$ 15.8 Million (2013 est.)
718:1 October - 30 September
694:Economic aid - recipient:
690:$ 44 million (2010 est.)
577:Electricity - production:
329:
224:Labor force by occupation
24:
295:24.5% of GDP (2017 est.)
116:1.2% (2018) 1.5% (2019e)
601:Agriculture - products:
585:222 million kWh (2010)
579:261 million kWh (2010)
560:tourism, construction,
466:GDP - real growth rate:
365:Under the terms of the
357:. The islands have few
351:subsistence agriculture
137:$ 3,634 (nominal, 2018)
113:0.7% (2016) 2.4% (2017)
51:1 October- 30 September
984:Pacific Islands Policy
733:public domain material
676:Imports - commodities:
639:Exports - commodities:
595:Electricity - imports:
589:Electricity - exports:
412:Asian Development Bank
349:consists primarily of
1017:"Gazetteer - Patents"
965:"The World Factbook"
951:"The World Factbook"
937:"The World Factbook"
923:"The World Factbook"
909:"The World Factbook"
895:"The World Factbook"
881:"The World Factbook"
867:"The World Factbook"
853:"The World Factbook"
839:"The World Factbook"
811:"The World Factbook"
797:"The World Factbook"
712:US currency is used
704:United States dollar
539:15% (2010 estimate)
446:laws in Micronesia.
325:$ 157 Million (2016)
38:United States dollar
706:(US$ ) = 100 cents
682:Imports - partners:
649:Exports - partners:
21:
967:. 6 December 2023.
953:. 6 December 2023.
939:. 6 December 2023.
925:. 6 December 2023.
911:. 6 December 2023.
897:. 6 December 2023.
883:. 6 December 2023.
869:. 6 December 2023.
855:. 6 December 2023.
841:. 6 December 2023.
813:. 6 December 2023.
799:. 6 December 2023.
739:The World Factbook
537:Unemployment rate:
430:Taxation and trade
472:GDP - per capita:
342:
341:
230:agriculture: 5.2%
185:Population below
82:$ 0.353 billion (
1066:
1032:
1031:
1029:
1028:
1019:. Archived from
1013:
1007:
1006:
1004:
1002:
975:
969:
968:
961:
955:
954:
947:
941:
940:
933:
927:
926:
919:
913:
912:
905:
899:
898:
891:
885:
884:
877:
871:
870:
863:
857:
856:
849:
843:
842:
835:
829:
828:
821:
815:
814:
807:
801:
800:
793:
787:
786:
784:
782:
766:
747:
730:
729:
688:Debt - external:
641:fish, garments,
494:43% (2010 est.)
400:tourist industry
320:
319:Foreign reserves
290:
203:
202:Gini coefficient
190:
144:
143:
136:
135:
81:
80:
73:
72:
29:
22:
20:
1074:
1073:
1069:
1068:
1067:
1065:
1064:
1063:
1049:
1048:
1040:
1035:
1026:
1024:
1015:
1014:
1010:
1000:
998:
977:
976:
972:
963:
962:
958:
949:
948:
944:
935:
934:
930:
921:
920:
916:
907:
906:
902:
893:
892:
888:
879:
878:
874:
865:
864:
860:
851:
850:
846:
837:
836:
832:
823:
822:
818:
809:
808:
804:
795:
794:
790:
780:
778:
768:
767:
752:
736:
727:
724:
710:Exchange rates:
645:, black pepper
562:fish processing
550:
545:
521:2% (2012 est.)
511:
506:
490:
485:
480:
468:1% (2002 est.)
458:
452:
432:
392:
344:
338:
322:
318:
292:
289:Government debt
288:
281:Public finances
273:
233:
232:industry: 0.9%
231:
229:
228:services: 93.9%
225:
215:
205:
201:
191:
186:
176:
159:
152:
126:
119:
107:
89:
48:
18:
12:
11:
5:
1072:
1070:
1062:
1061:
1051:
1050:
1047:
1046:
1039:
1038:External links
1036:
1034:
1033:
1008:
970:
956:
942:
928:
914:
900:
886:
872:
858:
844:
830:
816:
802:
788:
749:
723:
720:
620:sweet potatoes
527:37,410 (2000)
451:
448:
431:
428:
391:
388:
340:
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327:
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316:
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184:
181:
180:
177:
167:
164:
163:
160:
157:
154:
153:
151:
150:
138:
129:
127:
125:GDP per capita
124:
121:
120:
118:
117:
114:
110:
108:
105:
102:
101:
100:nominal (2013)
95:
91:
90:
88:
87:
75:
66:
64:
58:
57:
53:
52:
49:
44:
41:
40:
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13:
10:
9:
6:
4:
3:
2:
1071:
1060:
1057:
1056:
1054:
1045:
1042:
1041:
1037:
1023:on 2018-09-26
1022:
1018:
1012:
1009:
997:
993:
989:
985:
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974:
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960:
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771:
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748:
745:
741:
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734:
721:
719:
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713:
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707:
705:
701:
697:
695:
691:
689:
685:
683:
679:
677:
673:
671:
667:
665:
661:
657:
656:United States
653:
650:
646:
644:
640:
636:
634:
630:
629:
625:
621:
617:
613:
609:
605:
602:
598:
597:0 kWh (2010)
596:
592:
591:0 kWh (2010)
590:
586:
584:
580:
578:
574:
572:
568:
567:
563:
559:
555:
553:
552:expenditures:
548:
544:
540:
538:
534:
532:
528:
526:
522:
520:
516:
514:
509:
505:
501:
499:
495:
493:
488:
483:
479:
475:
473:
469:
467:
463:
461:
456:
449:
447:
445:
442:There are no
440:
438:
437:external debt
429:
427:
425:
421:
415:
413:
409:
405:
401:
396:
389:
387:
384:
383:public sector
379:
377:
372:
371:United States
368:
363:
360:
356:
352:
348:
337:
335:
328:
324:
321:
314:
310:
306:
302:
298:
294:
291:
284:
279:
275:
271:
266:
262:
258:
254:
250:
245:
241:
237:
227:
221:
218:37,920 (2010)
217:
211:
207:
204:
197:
193:
189:
182:
178:
174:
170:
165:
161:
158:GDP by sector
155:
148:
139:
131:
130:
128:
122:
115:
112:
111:
109:
103:
99:
96:
92:
85:
76:
68:
67:
65:
63:
59:
54:
50:
47:
42:
39:
36:
32:
28:
23:
1025:. Retrieved
1021:the original
1011:
999:. Retrieved
987:
983:
973:
959:
945:
931:
917:
903:
889:
875:
861:
847:
833:
819:
805:
791:
779:. Retrieved
773:
738:
725:
716:Fiscal year:
715:
714:
709:
708:
699:
698:
693:
692:
687:
686:
681:
680:
675:
674:
669:
668:
648:
647:
638:
637:
632:
631:
604:black pepper
600:
599:
594:
593:
588:
587:
582:
581:
576:
575:
570:
569:
557:
556:
551:
546:
542:
541:
536:
535:
530:
529:
525:Labor force:
524:
523:
518:
517:
513:highest 10%:
512:
507:
503:
502:
497:
496:
491:
486:
482:agriculture:
481:
477:
476:
471:
470:
465:
464:
459:
454:
453:
441:
435:yielding an
433:
416:
397:
393:
380:
364:
343:
331:
242:16.2% (2010)
239:Unemployment
194:26.7% (2000)
188:poverty line
1001:1 September
996:10125/22221
558:Industries:
508:lowest 10%:
234:(2013 est.)
214:Labor force
208:40.1 (2013)
179:1.5% (2018)
46:Fiscal year
17:Economy of
1027:2008-02-18
781:20 October
722:References
450:Statistics
390:Industries
334:US dollars
106:GDP growth
56:Statistics
700:Currency:
547:revenues:
492:services:
487:industry:
404:Nan Madol
169:Inflation
145:$ 3,454 (
1053:Category
670:Imports:
633:Exports:
628:chickens
608:coconuts
426:shells.
381:The FSM
308:Expenses
300:Revenues
247:External
94:GDP rank
34:Currency
666:(2010)
643:bananas
616:tapioca
612:cassava
543:Budget:
424:trochus
408:Pohnpei
359:mineral
355:fishing
260:Imports
252:Exports
149:, 2018)
86:, 2018)
990:: 15.
566:pearls
500:22.3%
444:patent
369:, the
735:from
664:China
652:Japan
460:note:
272:stock
98:186th
1003:2022
783:2019
660:Guam
624:pigs
573:NA%
515:NA%
510:NA%
489:10%
484:47%
455:GDP:
398:The
353:and
992:hdl
744:CIA
618:),
420:Yap
406:on
376:GDP
270:FDI
173:CPI
147:PPP
84:PPP
62:GDP
1055::
986:.
982:.
772:.
753:^
742:.
702:1
662:,
658:,
654:,
626:,
622:;
610:,
1030:.
1005:.
994::
988:7
827:.
785:.
746:.
614:(
336:.
175:)
171:(
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