Economic Growth

Oceania Ranking

the rate of change of real GDPSource: IMF

Current Rank	Country	Value	Latest Reading	Previous Rank	Previous Value

1	Tuvalu	4.4	2020	1	9.76
2 ↑	New Caledonia	2.1	2000	10	0.9
3 ↑	New Zealand	1.86	2020	7	1.63
4 ↑	Tonga	0.65	2020	11	0.73
5 ↑	Australia	0	2020	6	2.11
6 ↑	Micronesia	-1.77	2020	9	1.17
7 ↓	Kiribati	-1.95	2020	4	3.93
8 ↓	Samoa	-2.59	2020	3	4.38
9 ↓	Papua New Guinea	-3.5	2020	2	4.48
10 ↓	Solomon Islands	-4.32	2020	8	1.2
11 ↓	Vanuatu	-6.81	2020	5	3.91
12 ↑	Palau	-9.74	2020	13	-1.9
13 ↓	Fiji	-15.71	2020	12	-0.45

Definition of Economic Growth

Annual percentage growth rate of GDP at market prices based on constant local currency. Aggregates are based on constant 2010 U.S. dollars. 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. It is calculated without making deductions for depreciation of fabricated assets or for depletion and degradation of natural resources.