Micronesia (Federated States of) - Gross domestic product in current prices

460,000,000 (US dollars) in 2023

In 2023, GDP for Micronesia (Federated States of) was 460 million US dollars. GDP of Micronesia (Federated States of) increased from 46.1 million US dollars in 1974 to 460 million US dollars in 2023 growing at an average annual rate of 4.95%.

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What is GDP?

GDP at purchaser's prices 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. Data are in current U.S. dollars. Dollar figures for GDP are converted from domestic currencies using single year official exchange rates. For a few countries where the official exchange rate does not reflect the rate effectively applied to actual foreign exchange transactions, an alternative conversion factor is used.

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What is Micronesia (Federated States of) GDP?