Source: world bank Nominal/PPP
Summary:
Kiribati GDP Per Capita expanded from 1970 to 2024, increasing from $201.02 to $2,288.63 .The compound annual growth rate (CAGR) averaged 4.61% over the period. The economy recorded its peak level in 2024 and its lowest level in 1970. Growth volatility remained high. The maximum drawdown reached 66.24%, indicating the largest cyclical decline from peak levels. The country experienced 13 recession episode(s) during the observed period.
Kiribati Economic Phases (1970 - 2024)
From 1970 to 2024, Kiribati economy moved through multiple cyclical phases marked by alternating periods of rapid expansion and contraction.
- High Growth (1972–1974) indicating robust economic expansion
- Crisis (1975–1976) indicating severe economic downturn
- Contraction (1979–1980) indicating temporary slowdown
- Contraction (1982–1983) indicating temporary slowdown
- High Growth (1987–1988) indicating robust economic expansion
- Contraction (1989–1990) indicating temporary slowdown
- High Growth (1991–1992) indicating robust economic expansion
- Contraction (1997–1998) indicating temporary slowdown
- High Growth (2002–2005) indicating robust economic expansion
- High Growth (2010–2011) indicating robust economic expansion
- Contraction (2013–2015) indicating temporary slowdown
- High Growth (2016–2017) indicating robust economic expansion
- High Growth (2023–2024) indicating robust economic expansion
The most remarkable growth occurred in 1974 with an increase of 168.316%, while the largest decline was in 1975 at -35.433%.