Editing Economy of Nauru

{{Short description|none}}
{{See also|Phosphate mining in Banaba and Nauru}}
{{Infobox economy
| country = [[Nauru]]
| image = The site of secondary mining of Phosphate rock in Nauru, 2007. Photo- Lorrie Graham (10729889683).jpg
| image_size = 300px
| caption = [[Limestone]] pinnacles remain after phosphate mining removed the [[guano]] at one of Nauru's secondary mines
| currency = Australian dollar (A$ or AUD)
| year = 1 July – 30 June
| organs = 
| group = {{plainlist|
*[[Developing country|Developing/Emerging]]<ref>{{cite web |url=https://www.imf.org/external/pubs/ft/weo/2019/01/weodata/weoselco.aspx?g=2200&sg=All+countries+%2f+Emerging+market+and+developing+economies |title=World Economic Outlook Database, April 2019 |publisher=[[International Monetary Fund]] |website=IMF.org |access-date=29 September 2019}}</ref>
*Upper-middle income economy<ref>{{cite web |url=https://datahelpdesk.worldbank.org/knowledgebase/articles/906519-world-bank-country-and-lending-groups |title=World Bank Country and Lending Groups |publisher=[[World Bank]] |website=datahelpdesk.worldbank.org |access-date=29 September 2019}}</ref>}}
| population = {{Growth}} 12,511 (2021)<ref>{{cite web |title=Population, total - Nauru |url=https://data.worldbank.org/indicator/SP.POP.TOTL?locations=NR |website=data.worldbank.org |publisher=[[World Bank]] |access-date=28 December 2022}}</ref>
| gdp rank = [[List of countries by GDP (nominal)|214th]] (nominal) /<br />[[List of countries by GDP (PPP)|223rd]] (PPP)
| gdp = {{plainlist|
*{{increase}} $0.135billion (nominal, 2021)<ref>{{cite web | url=https://data.worldbank.org/indicator/NY.GDP.MKTP.CD?locations=NR | title=GDP (Current US$) - Nauru &#124; Data }}</ref>
*{{increase}} $0.164 billion ([[Purchasing power parity|PPP]], 2021)<ref>{{cite web | url=https://data.worldbank.org/indicator/NY.GDP.MKTP.PP.CD?locations=NR | title=GDP, PPP (Current international $) - Nauru &#124; Data }}</ref>}}
| growth = {{plainlist|
*{{Growth}} 5.7% (2018) {{Growth}} 1% (2019)
*{{Growth}} 0.7% (2020) {{Growth}} 1.6% (2021)
*{{Growth}} 0.9% (2022) {{Growth}} 2% (2023e)<ref>{{cite web|url=https://www.imf.org/external/datamapper/NGDP_RPCH@WEO/NRU?zoom=NRU&highlight=NRU|title=Real GDP growth. Annual percent change|website=IMF|access-date=27 March 2023|year=2023}}</ref> }}
| per capita = {{plainlist|
*{{increase}} $10,648 (nominal, 2021.)<ref>{{cite web | url=https://data.worldbank.org/indicator/NY.GDP.PCAP.CD?locations=NR | title=GDP per capita (Current US$) - Nauru &#124; Data }}</ref>
*{{increase}} $13,125 (PPP, 2021.)<ref>{{cite web | url=https://data.worldbank.org/indicator/NY.GDP.PCAP.PP.CD?locations=NR | title=GDP per capita, PPP (Current international $) - Nauru &#124; Data }}</ref>}}
| sectors = Agriculture: 6.1%, [[Industrial sector|industry]]: 33%, [[Service (economics)|services]]: 60.8% (2009 est.)
| components = 
| inflation = {{increase}}1.7% (2021 est.)<ref name="IMFWEONR">{{cite web |url=https://www.imf.org/external/pubs/ft/weo/2019/02/weodata/weorept.aspx?pr.x=19&pr.y=6&sy=2016&ey=2021&scsm=1&ssd=1&sort=country&ds=.&br=1&c=836&s=NGDP_RPCH%2CNGDPD%2CPPPGDP%2CNGDPDPC%2CPPPPC%2CPCPIPCH&grp=0&a= |title=World Economic Outlook Database, October 2019 |publisher=[[International Monetary Fund]] |website=IMF.org |access-date=20 October 2019}}</ref>
| poverty = 
| gini = 
| labor = 
| occupations = 
| unemployment = 25% (2011)<ref>{{cite web|url=http://www.spc.int/prism/nauru/index.php?option=com_content&view=article&id=79&Itemid=268|title=Pacific Regional Statistics - Secretariat of the Pacific Community|website=www.spc.int}}</ref>
| average gross salary = 
| gross median = 
| average net salary = 
| net median = 
| industries = Phosphate mining, offshore banking, coconut products
| edbr = 
| exports = US$135 million (2015 est.)<ref name="CIA WF"/>
| export-goods = fish, [[calcium phosphates]], [[low-voltage protection equipment]], [[air conditioners]], [[leather apparel]]<ref name="CIA WF"/>
| export-partners = {{ublist|{{flag|Thailand}}(+) 34%| {{flag|Australia}}(-) 16%| {{flag|United States}}(+) 13%| {{flag|South Korea}}(+) 10%| {{flag|Philippines}}(+) 9%| {{flag|Japan}}(+) 7%| 
{{flag|France}}(+) 5%|
{{flag|Spain}}(+) 4%|<ref name="CIA WF"/>}}
| imports = US$64.9 million (2016 est.)<ref name="CIA WF"/>
| import-goods = [[refined petroleum]], [[construction vehicles]], [[tug boats]], [[poultry meats]], [[cars]]<ref name="CIA WF"/>
| import-partners = {{ublist|{{flag|Taiwan}}(+) 52%| {{flag|Australia}}(-) 28%||<ref name="CIA WF"/>}}
| FDI = 
| current account = 
| gross external debt = US$33.3 million (2004 est.)<ref name="CIA WF"/>
| NIIP = 
| debt = 62% of GDP (2017 est.)<ref name="CIA WF"/>
| deficit = 
| revenue = US$103 million (2017 est.)<ref name="CIA WF"/>
| expenses = US$113.4 million (2017 est.)<ref name="CIA WF"/>
| aid = 
| credit = 
| reserves = 
| cianame = Nauru
| spelling = Oxford
}}
[[File:Map of Nauru 2022.png|thumb|Map of Nauru]][[File:Nauru Tree map.png|thumb|Tree map of Nauru]]
The '''economy of Nauru''' is tiny, based on a population in 2019 of only 11,550 people.<ref>2019 Nauru Mini Census https://naurufinance.info/nauru-statistics/</ref> The economy has historically been based on [[phosphate mining]]. With primary phosphate reserves exhausted by the end of the 2010s, [[Nauru]] has sought to diversify its sources of income. In 2020, Nauru's main sources of income were the sale of [[Exclusive economic zone|fishing rights]] in Nauru's territorial waters, and revenue from the [[Nauru Regional Processing Centre|Regional Processing Centre]]<ref name=":0">{{Cite web |title=2022-23 Budget |url=https://naurufinance.info/2020-21-budget/ |access-date=2022-12-28 |website=Department of Finance - Nauru |language=en-AU |archive-date=2021-10-06 |archive-url=https://web.archive.org/web/20211006195227/https://naurufinance.info/2020-21-budget/ |url-status=dead }}</ref> (an offshore Australian immigration detention facility).

Nauru is dependent on foreign aid, chiefly from Australia, [[Taiwan]] and New Zealand.

== Economic performance ==
In the years after independence in 1968, Nauru possessed the highest GDP per capita in the world due to its rich phosphate deposits.{{citation needed|date=May 2025}} In anticipation of the exhaustion of phosphate deposits, a substantial amount of the income from phosphates was invested in trust funds aiming to help cushion the transition and provide for Nauru's economic future. However, because of heavy spending, including poor foreign investment, the government is now{{when|date=September 2024}} facing bankruptcy. To cut costs the government called for a freeze on wages, a reduction in public service staffing, privatization of numerous government agencies, and closure of some of Nauru's overseas consulates.{{citation needed|date=May 2025}} Economic uncertainty caused by financial mismanagement and corruption, combined with shortages of basic goods, resulted in domestic unrest.{{citation needed|date=May 2025}} In 2004, Nauru was faced with chaos amid political strife and the collapse of the island's telecommunications system. Moreover, the deterioration of housing and hospitals has continued.{{citation needed|date=May 2025}}

Few comprehensive statistics on the Nauru economy exist, with estimates of Nauru's GDP varying widely. According to the U.S. State Department, Nauru's GDP volume was US$1 million in 2004.{{request quotation|date=August 2022}} Nauru receives about US$20 million foreign aid a year from Australia.<ref name="autogenerated1">{{Cite web|url=http://www.countrywatch.com/cw_topic.aspx?type=text&vcountry=122&topic=MAOVR|title=Home Page - CountryWatch|website=www.countrywatch.com|access-date=27 March 2023}}</ref>

The nation's economy has grown significantly since 2012, with help from the reopening of the [[Nauru Regional Processing Centre]], funded by Australia.<ref>{{Cite book|last=Asian Development Bank|author-link=Asian Development Bank|url=https://digitalcommons.ilr.cornell.edu/cgi/viewcontent.cgi?article=1428&context=intl|title=Pacific Economic Monitor: Budget Analysis|publisher=[[Cornell University School of Industrial and Labor Relations]]|year=2014|location=[[Manila]]|pages=8}}</ref>

The most recent 2022-23 Nauru Budget recognized expected revenues of $252.5 million and expenditure of $251.9 million (20% increase from Budget 2021–2022) with a $549,000 surplus balance. The surplus will provide cash reserves at the bank and help Nauru manage future economic uncertainties.<ref name=":0" />

== Balance of payments ==
Phosphate is Nauru's only export product, although the government also receives relatively significant foreign exchange income from licensing its rich skipjack tuna fishing grounds to foreign fishing vessels, which land an annual average of 50,000 tonnes of Nauru zone-caught tuna overseas.<ref name="NFMRAplan">{{cite web | last=Nauru Fisheries and Marine Resources Authority| title=NFMRA Corporate Plan| url=https://docs.google.com/viewer?a=v&pid=sites&srcid=ZGVmYXVsdGRvbWFpbnxuYXVydWZpc2hlcmllc3xneDo2NmI1ODczMDQyMzkwNzZi|  publisher=Government of Nauru | access-date=2018-03-13 }}</ref> In 2004 income from phosphate export was US$640,000, with Australia, New Zealand and Japan serving as the country's major export markets. In the same year the Nauru government budget shows that income from licensing foreign fishing vessels was over US$3,000,000.{{citation needed|date=May 2025}}

Nauru needs to import almost all basic and capital goods, including food, water, fuel, and manufactured goods, with Australia and New Zealand as its major import sources. In 2004 Nauru's imports totaled about US$19.8 million.<ref name="autogenerated1" />

==Finance==
Nauru has been a cash economy since at least 2004, after the Bank of Nauru and the Republic of Nauru Finance Corporation went bankrupt and ceased operations in the early 2000s and the licenses of all offshore banks were revoked by the Nauru government in 2004.<ref>{{cite web |url=http://www.commonwealthofnations.org/sectors-nauru/business/banking_and_financial_services/|title=Find Banking and Financial Services expertise in Nauru|website = Nexus Commonwealth Network}}</ref> Nauru uses the Australian dollar for its currency. Most government payments are executed through electronic funds transfer.  Electronic funds transfer at point of sale was introduced in 2020. The government is required to periodically fly in Australian currency to maintain liquidity.

On 2 June 2015, an agency of [[Bendigo and Adelaide Bank]], Australia's fifth largest bank, was established in Nauru by the [[Ministry of Finance of Nauru|Department of Finance]].<ref>{{cite web|url=https://www.smh.com.au/national/uncertainties-lead-to-australian-bank-dumping-plans-for-naurus-only-branch-20140326-35iw8.html|title='Uncertainties' lead to Australian bank dumping plans for Nauru's only branch|first=Daniel|last=Flitton|date=26 March 2014|website=The Sydney Morning Herald}}</ref><ref name="ibtimes" /> Effective from the end of April 2016, [[Westpac]], one of Australia's largest banks, ceased to have any dealings with the Nauru government.<ref>{{cite web|url=http://www.abc.net.au/news/2016-04-14/westpac-set-to-exit-nauru/7326892|title=Westpac bank severs ties to Nauru Government over money laundering concerns|date=14 April 2016 |work = ABC News|first = Liam|last = Fox}}</ref> On 21 April 2016, it was announced that the Bendigo Bank was facing pressure also to close its operation in Nauru.<ref>{{cite web|url=http://www.abc.net.au/pm/content/2016/s4447720.htm|title=Bendigo Bank facing pressure to close its operation in Nauru|date=21 April 2016|first = Liam|last = Fox|publisher = ABC News|work = PM}}</ref>

On 14 November 2023, Bendigo and Adelaide Bank announced its intention to cease operation in Nauru by December 2024.<ref>{{Cite web |date=14 November 2023|title=Joint statement from Bendigo Bank and the Government of Nauru|url=https://www.bendigobank.com.au/media-centre/joint-statement-from-bendigo-bank-and-the-government-of-nauru/|access-date=18 April 2024|website=[[Bendigo and Adelaide Bank]]|language=en}}</ref> On 24 January 2024, Nauru formally re-established diplomatic ties with the People's Republic of China after withdrawing recognition of Taiwan.<ref>{{Cite web |date=2024-01-24 |title=China formally restores diplomatic relations with Nauru after Pacific island nation cut Taiwan ties |url=https://apnews.com/article/china-nauru-taiwan-diplomatic-recognition-23fd9cdd0210a2340b5ae2092d2a85d1 |access-date=2024-01-24 |website=AP News |language=en}}</ref> In early March 2024, the [[Bank of China]] sent a delegation to Nauru to discuss its banking problems. On 18 March, Bendigo and Adelaide Bank announced its intention to delay its exit from Nauru, from December 2024 to July 2025.<ref>{{Cite web |first=Stephen |last=Dziedzic|date=18 March 2024|title=Bendigo Bank delays exit from Nauru as Chinese state-owned bank emerges as replacement|url=https://www.abc.net.au/news/2024-03-19/bendigo-bank-delays-nauru-exit-as-chinese-alternative-emerges/103603912|access-date=18 April 2024|website=[[Australian Broadcasting Corporation]]|language=en}}</ref>

== Taxation ==
On October 1, 2014, an [[income tax]] was imposed in Nauru for the first time, with high income earners paying a flat rate of 10%. The government spending in 2015 was forecast to be under US$92 million.<ref>[http://www.radionz.co.nz/international/pacific-news/246948/income-taxes-coming-in-nauru "Income taxes coming in Nauru"], ''Radio New Zealand International'', 11 June 2014</ref> Taxes include an airport [[departure tax]] and a bed tax at the Meneñ Hotel. The 2007–08 Budget saw the increase of existing excises on cigarettes and duty on imports. A tax on sugary foods was also introduced, chiefly to help combat Nauru's diabetes epidemic.<ref>{{cite web|url=http://www.countrywatch.com/cw_topic.aspx?type=text&vcountry=122&topic=INTAX|archive-url=https://web.archive.org/web/20220109082125/http://www.countrywatch.com/cw_topic.aspx?type=text&vcountry=122&topic=INTAX|url-status=dead|archive-date=January 9, 2022|title=CountryWatch - Login Page<!-- Bot generated title -->}}</ref>

==Tax haven status==
Historically Nauru was regarded as a tax haven due to the operation of its international financial centre, which offered amongst other things offshore banking services.<ref>{{cite web|url = https://www.fas.org/sgp/crs/misc/R40623.pdf|title = Tax Havens: International Tax Avoidance and Evasion|first =Jane G.|last = Gravelle |publisher = Congressional Research Service|date = 15 January 2015}}</ref>  In 2001, Nauru was blacklisted internationally over concerns it had become a haven for [[money laundering]].<ref name="ibtimes">{{cite web|url= http://www.ibtimes.com/tiny-island-nation-nauru-rebuild-its-banking-system-help-australia-1454162|title=Tiny Island Nation Of Nauru To Rebuild Its Banking System With Help From Australia|website=[[International Business Times]] |date=4 November 2013}}</ref>  Amendments made in 2004 abolished Nauru's Offshore Banking sector and, as recognised in Nauru's latest [[anti-money laundering]] and [[combating the financing of terrorism]] (AML/CFT) review, Nauru's offshore sector is now limited to a small [[offshore company]] register.<ref>{{cite web|url=http://www.apgml.org/mutual-evaluations/documents/default.aspx?s=title&pcPage=5|title=Asia / Pacific Group On Money Laundering|website=www.apgml.org}}</ref>

In July 2017 the Organisation for Economic Co-operation and Development (OECD) upgraded its rating of Nauru's standards of tax transparency. Nauru had been listed alongside fourteen other countries that had failed to show that they could comply with international tax transparency standards and regulations. The OECD subsequently put Nauru through a fast-tracked compliance process and the country was given a "largely compliant" rating.<ref>{{cite web|url=http://www.radionz.co.nz/international/pacific-news/334976/nauru-gets-an-oecd-upgrade|title=Nauru gets an OECD upgrade|date=12 July 2017}}</ref>

== Relationship with Australia ==
Currently,{{when|date=September 2024}} Nauru is heavily dependent on Australia as its major source of financial support. In 2001, Nauru signed an agreement with Australia to accommodate [[asylum seeker]]s (mostly from Iraq and Afghanistan) on the island, in return for millions of dollars in aid. This agreement, referred to as the "[[Pacific Solution]]", came to an end in 2007, prompting Nauruan concerns about the future of the island's revenue.<ref>[http://news.theage.com.au/nauru-hit-by-detention-centre-closure/20080207-1qs6.html "Nauru 'hit' by detention centre closure"], ''The Age'', February 7, 2008</ref> Australia has also sent financial experts to Nauru to help the tiny nation overcome its economic problems. However, serious questions remain about the long-term viability of Nauru's economy, with uncertainties about the rehabilitation of mined land and the replacement of income from phosphates.<ref name="autogenerated1" />

In 2008, talks began between Australia and Nauru regarding the future of the former's economic development aid to the latter. Nauruan Foreign and Finance Minister Dr. [[Kieren Keke]] stated that his country did not want aid handouts. One possible solution currently{{when|date=September 2024}} being explored would be for Australia to assist Nauru in setting up a "boat repair industry" for regional fishing vessels.<ref>[http://www.saipantribune.com/newsstory.aspx?newsID=77648&cat=1 "Nauru suggests boat repair industry"] {{webarchive|url=https://web.archive.org/web/20080528090126/http://www.saipantribune.com/newsstory.aspx?newsID=77648&cat=1 |date=2008-05-28 }}, ''Saipan Tribune'', March 4, 2008</ref>

=== Nauru detention centre ===
{{Main|Nauru Regional Processing Centre}}
The [[Nauru detention centre]] was established by the Australian government, with Nauruan agreement, in 2001 to cater for up to 800 refugees and asylum seekers under Australia's [[Pacific solution]]. The centre is seen by Nauruans as an important source of employment opportunities, in addition to the pledge of A$20 million for development activities.{{citation needed|date=December 2023}} The program was gradually scaled back after 14 detainee deaths, multiple suicide attempts and six referrals to the [[International Criminal Court]].<ref>{{Cite news |agency=Agence France-Presse |date=2025-02-26 |title=Nauru sells citizenship to help fund relocations as sea levels rise |url=https://www.theguardian.com/world/2025/feb/26/nauru-climate-citizenship-golden-passport |access-date=2025-03-06 |work=The Guardian |language=en-GB |issn=0261-3077}}</ref>

== Economic statistics ==

* GDP: [[purchasing power parity]] - US$60 million (2001 est.)
* [[GDP per capita]]: [[purchasing power parity]] - US$5,000 (2001 est.)
* Inflation rate (consumer prices): -3.6% (1993)
* Budget: revenues: US$23.4 million; expenditures: US$  million (1995/96)
* [[External debt]]: US$33.3 million
* Economic [[aid]] - receives around US$2.25 million from Australia (1996/97 est.)
* Currency: Australian dollar

The [[fiscal year]] runs from July 1 to June 30.

== Employment ==

* Labour force are mainly employed in mining [[phosphate]]s, [[public administration]] by [[RONPhos]], education and transport
* In 2004, the unemployment rate was close to 90%.<ref name="CIA WF">{{cite web |title=Nauru |url=https://www.cia.gov/the-world-factbook/countries/nauru/ |website=[[CIA World Factbook]] |access-date=8 December 2020 |date=24 November 2020}}</ref> In February 2008, foreign affairs minister Dr. [[Kieren Keke]] stated: "We have got a major unemployment crisis in front of us."<ref>{{cite news| url=http://news.theage.com.au/nauru-hit-by-detention-centre-closure/20080207-1qs6.html | work=The Age | title=Nauru 'hit' by detention centre closure | date=February 7, 2008}}</ref> By 2011, the unemployment rate had decreased to 23%.<ref name="CIA WF"/>
* Main industries are phosphate mining, offshore banking, [[coconut]] products
* Electricity production (fossil fuels) and consumption are around 30 GWh (2000)
* Agriculture is not a major employer, coconuts are the main produce

== Data ==
The following table shows the main economic indicators in 2004–2022 (with IMF staff estimates for 2019–2027). Inflation below 3% is in green.<ref>{{Cite web |date=28 December 2022 |title=International Monetary Fund |url=https://www.imf.org/en/Publications/WEO/weo-database/2022/October/weo-report?c=836,&s=NGDPD,PPPGDP,NGDPDPC,PPPPC,PCPIPCH,LP,GGXWDG_NGDP,&sy=2004&ey=2027&ssm=0&scsm=1&scc=0&ssd=1&ssc=0&sic=0&sort=country&ds=.&br=1 |access-date=2022-12-28 |website=IMF}}</ref>
{| class="wikitable" style="text-align: center;"
!Year
!GDP<br><small>(in mil. US$PPP)</small>
!GDP per capita<br><small>(in US$ PPP)</small>
!GDP<br><small>(in mil. US$<br>nominal)</small>
!GDP per capita<br><small>(in US$ nominal)</small>
!Inflation rate
!Government debt<br><small>(as % of GDP)</small>
|-
|2004
|{{Increase}}35
|{{Increase}}3,174.9
|{{Increase}}32
|{{Increase}}3,504.2
|n/a
|n/a
|-
|2005
|{{Decrease}}36
|{{Decrease}}3,167.6
|{{Decrease}}31
|{{Increase}}3,647.1
|{{IncreaseNegative}}8.6%
|n/a
|-
|2006
|{{Decrease}}40
|{{Increase}}3,200.7
|{{Decrease}}29
|{{Increase}}4,438.1
|{{IncreaseNegative}}19.3%
|n/a
|-
|2007
|{{Increase}}32
|{{Increase}}3,487.7
|{{Decrease}}23
|{{Decrease}}3,487.7
|{{IncreaseNegative}}5.6%
|n/a
|-
|2008
|{{Increase}}40
|{{Increase}}3,965.3
|{{Increase}}37
|{{Increase}}4,207.1
|{{IncreaseNegative}}1.03%
|n/a
|-
|2009
|{{Increase}}43
|{{Increase}}4,587.7
|{{Increase}}44
|{{Increase}}4,541.9
|{{Increase}}3.5%
|{{DecreasePositive}}247.9%
|-
|2010
|{{Increase}}49
|{{Increase}}4,748.1
|{{Increase}}47
|{{Increase}}4,892.8
|{{IncreaseNegative}}-1.9%
|{{DecreasePositive}}243.2%
|-
|2011
|{{Increase}}55
|{{Increase}}6,529.4
|{{Increase}}66
|{{Increase}}5,473.5
|{{IncreaseNegative}}-3.3%
|{{DecreasePositive}}188.1%
|-
|2012
|{{Increase}}62
|{{Increase}}9,382.6
|{{Increase}}97
|{{Increase}}5,980.83
|{{Increase}}0.2%
|{{DecreasePositive}}127.5%
|-
|2013
|{{Increase}}83
|{{Decrease}}9,103.5
|{{Increase}}99
|{{Increase}}7,642.4
|{{IncreaseNegative}}-1.1%
|{{DecreasePositive}}121.6%
|-
|2014
|{{Increase}}107
|{{Decrease}}8,865.6
|{{Increase}}105
|{{Increase}}9,042.8
|{{Increase}}0.2%
|{{DecreasePositive}}105.8%
|-
|2015
|{{Increase}}112
|{{Decrease}}6,994.1
|{{Decrease}}87
|{{Decrease}}8,974.5
|{{IncreaseNegative}}9.7%
|{{DecreasePositive}}80%
|-
|2016
|{{Increase}}116
|{{Increase}}7,674.4
|{{Increase}}100
|{{Decrease}}8,927.4
|{{IncreaseNegative}}8.1%
|{{DecreasePositive}}79.5%
|-
|2017
|{{Decrease}}112
|{{Increase}}8,152.9
|{{Increase}}110
|{{Decrease}}8,341.6
|{{IncreaseNegative}}5.1%
|{{DecreasePositive}}77.5%
|-
|2018
|{{Increase}}121
|{{Increase}}9,398.5
|{{Increase}}124
|{{Increase}}9,197.2
|{{Increase}}0.4%
|{{DecreasePositive}}75.1%
|-
|2019
|{{Increase}}125
|{{Decrease}}9,365.4
|{{Decrease}}119
|{{Increase}}9,856.4
|{{IncreaseNegative}}4.3%
|{{DecreasePositive}}62.8%
|-
|2020
|{{Increase}}127
|{{Decrease}}8,866.8
|{{Decrease}}114
|{{Decrease}}9,852.9
|{{IncreaseNegative}}-6.5%
|{{DecreasePositive}}61.3%
|-
|2021
|{{Increase}}134
|{{Increase}}10,139.1
|{{Increase}}133
|{{Increase}}10,221.4
|{{Increase}}1.2%
|{{DecreasePositive}}27%
|-
|2022
|{{Increase}}145
|{{Decrease}}10,004.7
|{{Increase}}134
|{{Increase}}10,834.3
|{{Increase}}2.0%
|{{IncreaseNegative}}27.3%
|-
|2023
|{{Increase}}154
|{{Increase}}10,096.2
|{{Increase}}138
|{{Increase}}11,228.6
|{{Increase}}2.0%
|{{DecreasePositive}}24.9%
|-
|2024
|{{Increase}}161
|{{Increase}}10,162.8
|{{Increase}}142
|{{Increase}}11,512.8
|{{Increase}}2.0%
|{{DecreasePositive}}22.8%
|-
|2025
|{{Increase}}167
|{{Decrease}}10,156.6
|{{Increase}}144
|{{Increase}}11,733.4
|{{Increase}}2.0%
|{{DecreasePositive}}20.9%
|-
|2026
|{{Increase}}173
|{{Decrease}}10,088.1
|{{Increase}}146
|{{Increase}}11,934.3
|{{Increase}}2.0%
|{{DecreasePositive}}19%
|-
|2027
|{{Increase}}180
|{{Decrease}}10,071.5
|{{Increase}}149
|{{Increase}}12,150.8
|{{Increase}}2.0%
|{{DecreasePositive}}16.5%
|}

== Trade ==
{{Unreferenced section|date=May 2025}}
*Exports - valued at US$30 million (2018). Fish, calcium phosphates, low-voltage protection equipment, air conditioners, leather apparel. Major trading partners include [[Thailand]] 34%, Australia 16%, United States 13%, and [[South Korea]] 10%.
*Imports - valued at US$90 million (2018). Refined petroleum, construction vehicles, tug boats, poultry meats, cars. Major partners are Taiwan 52% and Australia 28%.

== See also ==
* [[Phosphate mining in Nauru]]
* [[Nauru Phosphate Corporation]]
* [[Nauru Phosphate Royalties Trust]]
* [[Ministry of Finance of Nauru]]
* [[Tourism in Nauru]]

== References ==
{{Reflist}}

== External links ==
* [http://news.bbc.co.uk/2/hi/programmes/from_our_own_correspondent/7296832.stm "Nauru seeks to regain lost fortunes"], Nick Squires, [[BBC]], March 15, 2008
* [http://english.aljazeera.net/NR/exeres/E43E4DAD-CB3F-4D05-8D44-0CB757671FB0.htm "Nauru's riches to rags decline"], Dan Nolan, [[Al Jazeera Media Network|Al Jazeera]], March 17, 2008

{{Nauru topics}}
{{Oceania in topic|Economy of}}

{{DEFAULTSORT:Economy Of Nauru}}
[[Category:Economy of Nauru| ]]