List of Oceanian countries by GDP
Source | IMF World Economic Outlook (October-2024) |
Date | 08 Nov 2024 |
Australia is the largest economy in Oceania, followed by New Zealand and Papua New Guinea. These three together hold a huge 99.4% share of the Oceanian economy. Tuvalu has the smallest economy in Oceania.
One economy of Oceania would have a GDP above $1 trillion, and two would have an economy above $100 billion. None of the Oceanian economies are in the top ten largest economies globally, and only one is within the top 50 world GDP rankings.
The nominal GDP of all 14 economies would increase in 2024 compared to 2023. Australia ($61 bn) is the top contributor.
In PPP data, one economy in Oceania would have a GDP above Int. $1 trillion, and two would have an economy above Int. $100 billion. Kiribati will surpass Micronesia in 2024, resp. Only one Oceanian economy, Australia, is in the top 50 world GDP rankings.
None of the Oceanian economies would see a decrease in 2024 compared to 2023. Australia (Int. $67 bn) and New Zealand (Int. $6.7 bn) would be the top gainers.
Eight economies have higher GDP on a PPP basis, and six have higher on a nominal basis. Fiji has the highest ppp to nominal ratio of 2.56, while Vanuatu has the lowest figure of 0.85.
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- Nominal
- Change in Nominal
Country/Economy | GDP (billions of $) | Share (%) | Rank | ||||
---|---|---|---|---|---|---|---|
2024 | 2025 | Change | Oceania | World | Oceania | World | |
Australia | 1,802.006 | 1,881.140 | 79.134 | 85.9 | 1.63 | 1 | 13 |
Fiji | 5.773 | 6.081 | 0.308 | 0.278 | 0.00527 | 4 | 158 |
Kiribati | 0.312 | 0.333 | 0.021 | 0.0152 | 0.00029 | 11 | 191 |
Marshall Islands | 0.279 | 0.294 | 0.015 | 0.0134 | 0.00025 | 12 | 192 |
Micronesia | 0.484 | 0.507 | 0.023 | 0.0232 | 0.00044 | 9 | 189 |
Nauru | 0.160 | 0.179 | 0.019 | 0.00818 | 0.00015 | 13 | 193 |
New Zealand | 252.236 | 262.924 | 10.688 | 12.0 | 0.228 | 2 | 54 |
Palau | 0.316 | 0.353 | 0.037 | 0.0161 | 0.00031 | 10 | 190 |
Papua New Guinea | 31.896 | 32.641 | 0.745 | 1.49 | 0.0283 | 3 | 110 |
Samoa | 1.068 | 1.147 | 0.079 | 0.0524 | 0.00099 | 7 | 185 |
Solomon Islands | 1.730 | 1.835 | 0.105 | 0.0838 | 0.00159 | 5 | 179 |
Tonga | 0.545 | 0.571 | 0.026 | 0.0261 | 0.00049 | 8 | 188 |
Tuvalu | 0.073 | 0.079 | 0.006 | 0.00361 | 0.00007 | 14 | 194 |
Vanuatu | 1.169 | 1.214 | 0.045 | 0.0555 | 0.00105 | 6 | 184 |
Oceania | 2,098.047 | 2,189.298 | 91.251 | 1.99 |
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- PPP
- Change in PPP
Country/Economy | GDP (billions of Int. $) | Share (%) | Rank | PPP/Nom | ||||
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2024 | 2025 | Change | Oceania | World | Oceania | World | ||
Australia | 1,897.885 | 1,973.284 | 75.399 | 84.4 | 0.965 | 1 | 20 | 1.049 |
Fiji | 14.766 | 15.538 | 0.772 | 0.665 | 0.00760 | 4 | 156 | 2.555 |
Kiribati | 0.459 | 0.487 | 0.028 | 0.0208 | 0.00024 | 9 | 189 | 1.462 |
Marshall Islands | 0.272 | 0.287 | 0.015 | 0.0123 | 0.00014 | 12 | 192 | 0.976 |
Micronesia | 0.443 | 0.459 | 0.016 | 0.0196 | 0.00022 | 10 | 190 | 0.905 |
Nauru | 0.141 | 0.146 | 0.005 | 0.00625 | 0.00007 | 13 | 193 | 0.816 |
New Zealand | 283.908 | 294.561 | 10.653 | 12.6 | 0.144 | 2 | 67 | 1.120 |
Palau | 0.303 | 0.334 | 0.031 | 0.0143 | 0.00016 | 11 | 191 | 0.946 |
Papua New Guinea | 44.419 | 46.888 | 2.469 | 2.01 | 0.0229 | 3 | 137 | 1.436 |
Samoa | 1.480 | 1.571 | 0.091 | 0.0672 | 0.00077 | 6 | 184 | 1.370 |
Solomon Islands | 2.057 | 2.147 | 0.090 | 0.0918 | 0.00105 | 5 | 182 | 1.170 |
Tonga | 0.777 | 0.810 | 0.033 | 0.0347 | 0.00040 | 8 | 188 | 1.419 |
Tuvalu | 0.066 | 0.069 | 0.003 | 0.00295 | 0.00003 | 14 | 194 | 0.873 |
Vanuatu | 0.994 | 1.027 | 0.033 | 0.0439 | 0.00050 | 7 | 187 | 0.846 |
Oceania | 2,247.970 | 2,337.608 | 89.638 | 1.2 | 1.068 |