AEIR 2019/2020

The economy grew at a slower pace in 2018, to 2.3%, compared with the previous 3-year 5.2% average. This was due to a significant slowdown in fishing revenue growth—from 10.0% in 2017 to 0.7% in 2018. On the positive side, public spending and development partner projects helped compensate. The Kiribati economy will likely grow 2.3% in 2019 and 2020, as continued infrastructure spending offsets the slowdown in fishing revenue growth. In October 2018, Kiribati secured a grant from development partners that will provide South Tarawa, the capital, a seawater desalination plant and a solar photovoltaic plant, as well as rehabilitate and expand the water supply network.

Source: Asian Development Outlook 2019, ADB.
Latest Month-Ago Year-Ago
Headline Inflation Rate 1 0.6 (Dec15)1.5 3.1
Merchandise Export Growth 1 271.1 (Jan20)1.0 63.8
Exchange Rate Index 2 84.1 (Apr20)82.8 94.7
1 y-o-y, %.
2 Monthly average, January 2006 = 100, $/local currency.
Source: .

Initiatives / FTAs