Includes Kiribati real Gross Domestic Product growth rate, with latest forecasts and historical data, GDP per capita, GDP composition and breakdown by sector.
Browse additional economic indicators and data sets, selected by Global Finance editors, to learn more about Kiribati economic outlook, debt to GDP ratio, international trade performance and population trends. Rankings of Kiribati best banks and safest banks are also available.
Basic Information
Government Type: Presidential republic
Capital City: Tarawa
GDP & Economic Information
Macroeconomy & Sovereign Data
| Central Bank | None. The Australian dolar is the official currency. |
|---|---|
| Currency |
Australian dollars (AUD) |
| International Reserves | N/A |
| Gross Domestic Product – GDP |
USD 0.2 billion (2018, estimate) |
| GDP (Purchasing Power Parity) |
Intl$ 0.2 billion (2018, estimate) |
GDP Data
| Real GDP growth |
2007 2.0% 2008 -2.1% 2009 0.8% 2010 -0.9% 2011 1.6% 2012 4.7% 2013 4.2% 2014 -0.7% 2015 10.4% 2016* 5.1% 2017* 0.3% 2018* 2.3% *Estimate |
|---|---|
| GDP per capita – current prices | USD 1,640.6 (2018, estimate) |
| GDP per capita – PPP | Intl$ 2,085.6 (2018, estimate) |
| GDP (PPP) – share of world total | N/A |
| GDP – composition by sector |
agriculture: 30.8% industry: 12.4% services: 63.4% (2017 estimate) |
| Gross domestic expenditure on R&D; (% of GDP) | N/A |
| Inflation |
2015 0.6% 2016 1.9% 2017* 0.4% 2018* 1.9% 2019 1.7% *Estimate |
Kiribati
Inflation & Debt
| Inflation |
2015 0.6% 2016 1.9% 2017* 0.4% 2018* 1.9% 2019 1.7% *Estimate |
|---|---|
| Government Bond Ratings |
Standard & Poor’s: N/A Moody’s : N/A Standard & Poor’s / Moody’s |
| Unemployment rate | N/A |
| Household saving rates | N/A |
| Public debt (General government gross debt as a % of GDP) |
2015 19.9% 2016 21.9% 2017* 21.6% 2018* 20.6% 2019 22.6% *Estimate |
| Public deficit (General government net lending/borrowing as a % of GDP) |
2015 47.4% 2016 23.2% 2017* 11.7% 2018* -2.5% 2019 -16.6% *Estimate |
| Market value of publicly traded shares | N/A |
| Largest Companies | N/A |
Import/Export
| Exports as percent of GDP (Exports of goods and services) | 13.2% (2017) |
|---|---|
| Shares in world total merchandising export | 0.0001% (2018) |
| Shares in world total commercial services export | 0.0002% (2017) |
| Total exports | USD 29.4 million (2017) |
| Export commodities | Fish, coconut products |
| Total imports | USD 194.8 million (2017 estimate) |
| Import commodities | Food, machinery and equipment, miscellaneous manufactured goods, fuel |
| Exports – major partners | Philippines 50.8%, Malaysia 17.2%, US 11.4%, Bangladesh 5.8%, Fiji 5.4% (2017) |
| Imports – major partners | Australia 29.3%, Fiji 17.3%, NZ 10.7%, China 5.8%, US 5.8%, Singapore 5.1%, Japan 4.6%, Thailand 4.1% (2017) |
Competitiveness & Trade
| Current account balance | USD 0.1 billion (2018 estimate) |
|---|---|
| Current account balance by percentage of GDP | 36.2 % (2018 estimate) |
| FDI inflows |
2013 USD 1.8 million 2014 USD 0.8 million 2015 USD 0.6 million |
| FDI Outflows |
2016 USD 0.1 million 2017 USD 0.1 million 2018 USD 0.1 million |
| Value of cross-border M&A, by country of purchaser |
2015 N/A 2016 N/A 2017 USD -30 million 2018 N/A |
| Cross-border M&A deals worth over $3 billion completed in 2014 | N/A |
| Cross-border M&A deals worth over $3 billion completed in 2015 | N/A |
| Best countries for doing business |
Economies are ranked on their ease of doing business. A high ease of doing business ranking means the regulatory environment is more conducive to the starting and operation of a local firm. Overall ranking: 164 out of 190 countries Subcategories: Starting a Business: 149 out of 190 countries Dealing with Construction Permits: 169 out of 190 countries Getting Electricity: 172 out of 190 countries Registering Property: 150 out of 190 countries Getting Credit: 173 out of 190 countries Protecting Minority Investors: 136 out of 190 countries Paying Taxes: 98 out of 190 countries Trading across Borders: 135 out of 190 countries Enforcing Contracts: 121 out of 190 countries Resolving Insolvency: 168 out of 190 countries |
| Global competitiveness ranking | N/A |
| Index of Economic Freedom |
Ranking: 168 / Score: 47.3 (Repressed) (100=totally free 0=totally repressed) |
Population & Geographic Data
| Time Zone |
UTC+1 |
|---|---|
| Total Area | 811 sq km |
| Total Population |
1990 0.07 million 2000 0.08 million 2010 0.1 million 2015 0.11 million 2020* 0.12 million *Estimate |
| Urban population as % of total population |
1960 16.3% 1980 32.2% 2000 43.1% 2018 54.1% |
| Population median age | 25 years |
| Population growth rate | 1.12% (2018 estimate) |
| Life expectancy | 66.9 years (2018 estimate) |
| % of population living on less than $3.10 a day | N/A |
| Inequality of wealth distribution (Gini index) | N/A |
| Freedom House rating |
Free Political Rights: 1 Civil Liberties: 1 (2019) (1 represents the most free, 7 the least free rating) |
| Total telephone subscribers as % of population |
Fixed: 0% Mobile: 46.6% (2018) (fixed-telephone subscribers and mobile-cellular subscribers) |
| Internet users as % of total population |
14.58 % (2017) |
Language & Religon
| Languages | I-Kiribati, English (official) |
|---|---|
| Literacy | N/A |
| Religions | Roman Catholic 57.3%, Kiribati Uniting Church 31.3%, Mormon 5.3%, Baha’i 2.1%, Seventh Day Adventist 1.9%, other 2.1% (2015 est.) |
World Rankings
| Population | 0.12 M |
|---|---|
| Mercer Cost of living index | N/A |
| C02 Emissions per capita | 0.57 metric tons per capita (2014) |
Global Finance Rankings & Awards: Asia Pacific & Kiribati
Global Finance Magazine holds several conferences and awards ceremonies throughout the year to recognize the winning financial institutions and companies in a host of categories including World’s Best Trade Finance Banks, World's Biggest Banks, World's Safest Banks, World's Best Developed & Emerging Markets Banks, World's Best Internet Banks, and World’s Best Investment Banks.
Data Sources:
IMF World Economic Outlook
UN World Population Prospects
World Inequality Report
S&P Global Ratings
Moody’s
Fitch Ratings
IMF Direction of Trade Statistics (DOTS)
UN Conference on Trade and Development (UNCTAD)
CIA The World Factbook
World Bank’s World Integrated Trade Solution
Forbes Global 2000