AEIR 2018

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
Merchandise Export Growth 1 -51.1 (Mar19)-51.1 162.9
1 y-o-y, %.
Source: .

Initiatives / FTAs